QuickBook Tips You Need to Know

All through July, I’ve written and talked about QuickBooks, especially for those of you who manage your own books. DIY Bookkeeping doesn’t have to be tricky, but there is a learning curve.

Let’s review my tips from my Wednesdays with Wendy segments on Facebook! Following these tips will help you optimize your business throughout the entire year. 

• Categorize your transactions in QuickBooks every day. Yes, daily. That way, you’ll be caught up at the end of the year. 

• Reconcile your bank and credit card accounts monthly. Use the transactions tab and the reconcile option. Find your bank and credit card statements, and you should be able to reconcile easily and quickly if you’ve been keeping up with your books throughout the month. 

• Worried about owing taxes because you have income from self-employment? Use the IRS’s tax estimator to figure out how much you will owe for at least your current income year to date. 

• Never pay your business expenses out of your personal accounts or vice versa! This keeps your bookkeeping clean and easy to do. 

Do you want to have more time and energy to run your business or to, say, go on vacation? Visit my website to schedule an appointment to discuss your needs!