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Avoid These Costly, Yet Common Small Business Bookkeeping Mistakes

Remote Quality Bookkeeping

But running a small business is no small feat. And while it may feel manageable at first, handling small business bookkeeping without the right system or experience can quickly lead to costly missteps. Even small bookkeeping mistakes can snowball into inaccurate reporting, compliance issues, and cash flow problems.

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Bookkeeping Basics for Small Business: What Every Owner Should Know

Remote Quality Bookkeeping

Even though a basic understanding of financial management may bring an entrepreneur through the first stages of business development, a comprehensive understanding is eventually required. In the content below, we seek to provide a helpful small business bookkeeping guide for startups looking to pave the way to long-term success.

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How to Avoid the Pitfalls of Messy Bookkeeping

Stephanie Peterson

Is your bookkeeping disorganized? Typically this occurs due to having insufficient time, an amateur bookkeeper, or failed efforts. By maintaining your books regularly, reviewing reports, and reconciling your accounts at the end of each month, you can avoid bookkeeping disasters.

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What Does a Bookkeeper Do?

Billah and Associates

The job of a bookkeeper is to track your business earnings and expenses. In simple words, bookkeepers ensure that all of your business income, expenses and transactions are recorded in your book and they reconcile your company’s financial accounts every month. They also pay bills on time without any delay.

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My scariest QuickBooks cleanup horror stories

5 Minute Bookkeeping

We ended up having to do a giant data migration project to combine the activity from all the various QuickBooks files into one QuickBooks file and then meticulously reconcile all the transactions and identify all the fraudulent transactions. The bookkeeper is now in prison and serving time for her crime.

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Controller's Code: The Secret Formula to a Successful Career in Finance

Cloud Accounting Podcast

If you're if you're doing bookkeeping, or accounting for SMBs, you're not you're unnecessarily tying out the entire trial balance. You're really focused on cash and making sure cash, and credit cards are gonna be reconciled. That requires preparing a reconciliation to support each of those balances. So, it's a really strange dynamic.