Catching Up From a Previous Tax Year (Or Two)

All too often, I have taken over bookkeeping for a client whose books are in complete disarray for the current and previous tax years.  The issue is further compounded due to tax returns having been filed for the same previous tax years that are in disarray. There can be a multitude of reasons that the

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Which Financial Reports Are Relevant to You?

If you track your business or personal financial data (or both), you should be analyzing this data in relevant financial reports regularly, even if it’s just for 30 minutes per month. In my bookkeeping world, I witness clients who fall into the extreme ends of the spectrum of actually reviewing financial reports. I see some

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In-House Payroll Recommendations

Handling payroll in-house is a responsibility that should be handled with the utmost care.  Among all of your bookkeeping tasks, payroll has the potential to produce some of the most negative repercussions for your business.  The main reasons for this increased risk are: 1) you are submitting payments to your employees whom are a part

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When Do You Need to Employ a Full-Time Bookkeeper Instead of Outsourcing?

AccuraBooks serves typical small businesses that gross approximately $5m or less in annual revenues. Most typical small businesses within this income range can get by with specialized outsourced (contracted) bookkeeping services to handle recurrent tasks.  The most common among these tasks include bank/credit reconciliations, payroll, sales tax filings, and inventory controls.  Some additional tasks at

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Dealing with Uncategorized Transactions

Almost every time I work at monthly or quarterly cash and credit reconciliations, there are inevitably transactions that I will have questions on and therefore need to obtain further clarification before booking to the appropriate account in the client’s financial database. I always like to book transactions to relevant accounts that have a useful purpose;

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Fixing Deposit Issues in Quickbooks

After processing your bank reconciliation, you may sometimes find that you have deposit issues such as: Undeposited Funds account still has customer payments in it. The reconciled bank account still has uncleared deposits in it. Some of your customer receivables balances look too high or have a negative balance. The revenues on your income statements

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What Do You Value in a Bookkeeper?

A good bookkeeper is one of the best partners a business owner can have.  A bookkeeper who is experienced, efficient, and organized will offer business owners the information they need to accurately track business financials and make well-informed decisions to grow their businesses.  Let’s face it: if there is no money, the business cannot go

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Experienced or “Team Player” Candidates

Some small businesses may find themselves these days on having to choose between hiring an experienced person, perhaps for more money, and hiring someone to be primarily a team player. Both of these philosophies have their benefits, so it is just a matter of choosing which skill set your business needs right now. A candidate

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The Importance of Constant Bookkeeping

I recently had two clients fold their businesses. One of them had been a client of mine since the very inception of my business back in 2009. The common problem, shared by both of these clients, is that although I maintained their books on a monthly or quarterly basis (based on the client preferences), the

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Payroll Retirement Plans for Your Employees: Is It Worth It?

Every once in a while, one of my clients will ask me advice regarding offering retirement benefits to their current employees. The client is really wanting to know if they should go through with this type of compensatory perk in order to attract a more quality and talented pool of potential employees in the future.

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