Tag Archives: bookkeeping

Bookkeeping for Loan Refinance

My client, Sophia, has recently obtained mortgage refinancing for two of her properties and has asked AccuraBooks (her current bookkeeping service provider) to make these entries into the bookkeeping platform. In particular, Sophia was able to close out (pay off) the old loan and obtain a much higher loan as part of the terms for

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E-Commerce Revenues Entries

Manually booking your Amazon sales begins with logging into your Amazon Seller account and downloading those bi-weekly PDF revenues settlement statements. These are the statements notifying you of your detailed split out summarized revenues activities for the period of time and when to expect a bank transfer payment from Amazon. These statements outline the following

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Liability Catch-up

Recently I was hired on by my client, Maria, to take over the bookkeeping for her home design and remodeling company. There was an enormous amount of bookkeeping catchup and cleanup needed for her company because Maria had not had a bookkeeper nor maintained most of the bookkeeping for the past four months. After catching

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Monthly Job-Costing Tasks

Job-Costing is way of allocating certain income and expenses to particular customer jobs that your company has performed work for. So, instead of allocating income and expenses ONLY to your business-wide profit & loss statement, your income/expense data can ALSO be allocated to specific customer jobs. You do this extra step in your bookkeeping to

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Bookkeeping for Investments in QuickBooks

My client Donna wants all of her paper investments, such as certificates of deposits, mutual funds and IRA’s, tracked in her QuickBooks financial software. Normally people use more specialized personal bookkeeping software, such as Quicken, to track all of their investment activities, simply because Quicken can normally be tapped in to automatically update your investment

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Factoring Bookkeeping

My client, Emma, has recently sold all of her accounts receivables to a lending institution in lieu of a business loan. Basically all of my client’s customers will now have to send in payment to this lending institution and, in turn, the lending institution will disburse these discounted funds to my client. Emma has hired

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Bookkeeping Cleanup Advice

All too often, I have taken over bookkeeping for clients 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 those same previous tax years that are in current disarray. There can be a multitude of reasons that the

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How to Catch Bookkeeping Issues & Fix Examples

My client, Amy, uses the QuickBooks Online platform for her basic bookkeeping needs, including sending invoices to her customers and processing payroll for her employees. I log into the client’s QuickBooks Online company file monthly to reconcile her bank and credit accounts and review important reports such as current Accounts Receivable Aging, Income Statement and

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Employee or Outsourced Bookkeeping?

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 outsourced (contracted) bookkeeping services to handle recurring tasks.  The most common among these tasks include bank/credit reconciliations, payroll, sales tax filings, and job-costing.  Some additional tasks at this level

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Tracking Paper Investments in Quickbooks

Paper investments, such as stocks, bonds, mutual funds, money market accounts, etc., are probably best tracked in a personal financial software such as Quicken because the auto-feeds capability of Quicken can handle and book these sophisticated entries to recognize events such as reinvested dividends, capital gains and interest income. However, not all of us are

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