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Bookkeeping Checklist

Bookkeeping Checklist

By Accounting, Blog, Bookkeeping, Business, Cash Management, IRS, Payroll, Profit First, Responsibility, Tax Strategy, Taxes, Value No Comments

 A checklist for bookkeeping. What does that look like?   First of all, we recommend that you update your books no more than once a week. More than once a week is just a lot of unnecessary effort. We follow the Profit First system, so a lot of our clients and a lot of our recommendations also will fall into biweekly, every two weeks.   …

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Bookkeeping Red Flags

Bookkeeping Red Flags

By Accounting, Blog, Bookkeeping, Business, Cash Management, IRS, Profit First, Tax Strategy, Taxes No Comments

 Bookkeeping Red Flags | John Briggs – Incite Tax   What are some bookkeeping red flags to watch out for? The first red flag is you want to run a profit and loss statement by month. When you’re looking at the statement, it’ll show January, February, March, April, however many months you’re looking at in separate columns. You wanna notice trends, mainly inconsistent trends. If…

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Tax Tips To Clean Up Your Books

By Accounting, Bookkeeping, Cash Management, Tax Strategy, Taxes No Comments

Tax Tips to Clean Up Your Books   The first thing you want to do is make sure that you actually have all of your transactions in your accounts. Accounting software has a reconciliation function. Reconciliation is an accounting word that basically means you go in and look at your books. You can see the transactions inside of your book software and compare those transactions…

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You Missed the Tax Deadline. What Now?

By Accounting, Taxes No Comments

The dreaded tax season is over. Tax Day has come and gone and the deadline to file and pay is now passed. But what the heck happens now if you missed the tax deadline? We’re talking specifically about federal income tax penalties here. You’ll need to look up your own state penalties as each state will be different.   Minor Tangent We’re not getting into…

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