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AccountingWEB.com - NewsSmall business and QuickBooks: Did you reconcile?
Love it or hate it, most small business owners are using QuickBooks to track their company’s finances. I’ve found that many people, while using QuickBooks to enter transactions, fail to follow through to ensure they are are getting everything entered. If you get to the end of the year with a bunch of missing transactions, it is going to be that much harder to track down the reason why your checking balance and your QuickBooks balance are worlds apart.
Before I give the basic how-to of reconciling in QuickBooks, let’s establish some ground rules:
Tools for virtual accountants: portals, applications, and file space
By Joanie C. Mann
There are three primary tools that every accountant or bookkeeper needs in order to work most efficiently with clients online. Using the Internet as the network, business professionals everywhere are realizing that the issues of time and distance no longer impact their ability to get work done. In order to make the most of your virtualized working model, consider the value of the following three elements you should have in your online toolkit.
QuickBooks at tax time: Cleaning up your client's QuickBooks data
Selling services: It?s not about the money
By Michael Di Lauro
Banking payroll hours: The ATM approach for QuickBooks
By Peter G. Budreski
To accommodate the needs of good employees, employers will occasionally allow employees to bank hours worked and will then pay the banked hours when it is mutually convenient for the employer and employee. The task of tracking the banked hours could be a time-consuming exercise in maintaining separate paper documentation or additional Excel spreadsheets. Using paper documentation or Excel spreadsheets to track hours can create another problem – unrecorded liabilities – and this is not a good practice in accounting or record keeping.
