The most important part of bookkeeping

Are you wondering why your online account balances aren’t matching your Quickbooks account balances? Maybe your Profit & Loss figures simply aren’t adding up. The solution is RECONCILE!⁠
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Prior to hiring us, so many clients have skipped this essential step in their bookkeeping. They’re intimidated by the process and assume simply matching their synced transactions should be enough. Unfortunately, it’s not, and without reconciling you run the risk of duplicate transactions, missed transactions, and ongoing miscategorized entries.⁠
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Translation: You could be paying too much in taxes if you’re accidentally over-reporting your income or missing expenses that can be written off.⁠
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So, how do you do this? The easiest way is to hire a bookkeeper. Our job is not complete each month until we reconcile every one of your banking and credit card accounts. If you’re not quite ready to hire a professional, make sure you have a business level Quickbooks account (not self-employed), and go to the Reconcile feature every month after your prior month’s bank statement is available.⁠
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The process includes cross referencing every entry in Quickbooks with the transactions listed on your statement, ultimately ensuring the ending balances match and there aren’t any lingering duplicates or missing income or expenses.⁠
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Have questions or need a QB pro to help with your bookkeeping? Schedule a free bookkeeping consultation with us today!