Reconcile.
The best way to know that all transactions and account balances are correct is to reconcile ALL accounts when you receive the statements. This will help you catch any mistakes and keep you from over/understating your income and expenses.
Separate your business account and personal account
Pay yourself regularly. Either with Owner’s Draw, Shareholder’s Distribution or a Paycheck.
Spend the money in your personal account ONLY for personal use.
Spend the money in your business account ONLY for business use.
If you invest money in the business, transfer money from personal account to business account.
It helps you keep track of how your business is doing as well as prepare for your tax returns and the end of the year.
We are so excited to be settled in at our new location. Please update your contact information as our address and number has changed.
October 22-27, 2016, I journeyed once again to San Jose, CA for the annual QuickBooks Connect Conference.
It’s always a pleasure to join my friends and colleagues and 5000+ other QuickBooks experts to learn more and serve you better!
Before you file your tax return, remember to:
RECONCILE, RECONCILE, RECONCILE
The Bank Statements
The Credit Card Statements
The Loan Statements
The Accounts Receivable
The Accounts Payable
The Sales Tax
The Payroll Tax
The Undeposited Funds
Leave no “Widows and Orphans” on your Books.
Contact me if you need help.
~ because Efficiency Counts!
If you are too far for me to come to you, you can always TeamView with me. Click to download TeamViewer Free here.
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