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7 Common Accounting Mistakes That Are Very Important To Avoid

Accounting errors occasionally occur, but you can mitigate many common mistakes with proper preparation and planning. Remember, it usually takes more time to correct an error than it does to get it right initially.

Interestingly, it’s also cheaper to recognize and correct errors early instead of waiting to correct the issue later. While some accounting errors are minor and insignificant, others can be more serious and could significantly affect your business’s economic health.

Over time, clumsy practices could distort the reality of your business’s fiscal health. In severe instances, repeated accounting errors and a lack of best practices could drive your company towards insolvency. Here is a list of common accounting mistakes you need to avoid.

QuickBooks Desktop 2018 Discontinuation

QuickBooks 2018 Discontinuation May 31st – How This Affects You

The QuickBooks 2018 Discontinuation is near! For many seasoned users, we know it is that time of the year. For those of you who have just started using QuickBooks Desktop, you may be wondering what this means to you, especially if you are using version 18 or earlier. Put simply: anyone who is still using version 18 or earlier will lose access to important add-ons, or “connection-required” features, at the end of May 2021. Also, any live support for any inquiries or troubleshooting involving QuickBooks Desktop 2018 or earlier will no longer be available. What does this entail exactly? Read on to learn precisely what services and apps are affected; and how the discontinuation itself affects your support experience. Update* QuickBooks Desktop 2019 Discontinuation.

Top 10 New Features In QuickBooks Desktop 2021

QuickBooks 2021 is all about automation to save time and boost productivity, it will be full of new automation features such as – improvements to bank feeds, creating categorized receipt expense entries using the QuickBooks Desktop Mobile App, automatically sending statements, and more. This article is a compilation of just a few of the awesome new features we wanted to share with you. If you would like a more in-depth demonstration of these features, or if you are more of a visual learner, you can check out our recent webinar recording “What’s new in QuickBooks 2021

small-business-accounting

7 Tips for Keeping Your Small Business Accounting Organized

 

The lifeblood of any business whether small or large is financial integrity. Therefore, the efficient management of your small business accounting can help establish your success.

Keeping your accounting and finances in order should be an achievable goal. You’ll not only save time but also money. Bear in mind that organizing your accounting takes effort and time. Furthermore, you require a solid plan. Nevertheless, these invaluable tips will help you maintain efficiency.

business-budgeting

6 Signs Your Small Business Budget Might Be Out Of Control

A business that lacks a budget sets itself up for various financial issues in the future. This applies to businesses of all sizes and ages.

On the other hand, a business that creates long and short-term business goals by developing a comprehensive business plan can develop a roadmap for economic success and expansion opportunities.

Here’s a list of signs that you need to re-examine your business budget.

 

5 Common Payroll Mistakes And How To Avoid Them

payroll-accountingEvery business knows that payroll is vital to its operation. However, any problems, however minor, could affect virtually every business level. In fact, payroll mistakes are costing businesses thousands annually to rectify.

That’s why it’s imperative you develop a solid tax compliance and payroll processing plan to prevent possible payroll fees and errors. Here are 5 payroll mistakes to avoid.

we cover data migrations, this technology tuesday. we even go into why you might consider migrating your data - even when going from QuickBooks version to another.

Virtual Bookkeeping Services | The Future Of Accounting

With technological advancement, more businesses are considering virtual bookkeeping services. For some, the concept of a virtual bookkeeper is scary, while for others, it simply won’t work. For those that entertain this idea, they soon appreciate the benefits of using remote bookkeeping. Virtual bookkeeping permits a bookkeeper or accountant to offer services remotely....

Could Your Books Withstand A Tax Audit?

Tax audits can be time-consuming, taxing, and possibly expensive. Small business proprietors who might be navigating complex tax policies for the first time or who work in businesses such as restaurants where errors are easy to make are particularly likely to draw unnecessary attention for the IRS.

An audit doesn’t need to be a painful, endless, and invasive process if you follow these tips.

Why Hiring A Virtual Bookkeeper Can Maximize Your Productivity

These days, more businesses are turning to remote bookkeeping services due to technological advancement. For some businesses however, the concept of hiring a virtual bookkeeper is new and terrifying, while for others it simply won’t work. Over the past decade, a shift has occurred within the accounting and bookkeeping industries and the terms “virtual” and...

Tech Tuesday Recap: Payment Reminders in QuickBooks® 2020

Our recent Technology Tuesday on the new QuickBooks features for version 2020 highlighted multiple features. We did a deep dive, not too long ago, on a key feature: Find a Company File option in the “No Company Open” window. Another key feature – Customer Payment Reminders – aids your business’ accounts receivable workflows in QuickBooks.

quickbooks desktop 2017, for both windows and macOS is set to be discontinued on May 31, 2020. Here's what you should know regarding your QuickBooks company file, if you stick with QuickBooks 2017, after discontinuation

Support for QuickBooks Desktop 2017 in 2020: What You Should Know

It’s getting near the End of Life for QuickBooks 2017. For many longtime users, it’s that time of the year. For those of you who have just started using QuickBooks Desktop, you may be wondering what that means. Put simply: anyone still using 2017 will lose access to important add-ons, at the end of May 2020. Also, any live assistance for any inquiry or troubleshooting measure revolving around Desktop 2017 you currently utilize will not be available come May 31. What does this entail? Keep reading to learn exactly what services and apps are affected; and how discontinuation affects your support experience.

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