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30 Reasons Why It’s Better to Have Professional Help with Your QuickBooks® Software

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If you own a small business, you probably chose QuickBooks® as your company’s accounting software. After all, it’s the market leader in small business accounting software. While it’s intuitive in some places, there is a learning curve that everyone must go through in order to use the software properly.  There are also places where you need to know some accounting in order for transactions to be booked correctly. 

The good news is there are plenty of accounting professionals that know QuickBooks that can help you through the learning curve and answer questions that come up in the normal course of business. As a small business owner in these chaotic times, you must choose which learning curves to tackle and which ones to delegate or hire for. You can’t learn everything you need to know as an entrepreneur all by yourself; there’s just not enough time. It makes sense to focus on the core of your business with the limited time you have. 

The worst thing you can do is to try to learn QuickBooks by yourself. If it’s used incorrectly, the mistakes multiply, and suddenly you have a year’s worth of inaccurate transactions that need to be fixed, one by one. This gets expensive.  Here are 30 places where untrained QuickBooks users can get themselves in trouble.   

1. Broken bank feeds

The integrated automation between your bank and QuickBooks software is called a bank feed.  When these feeds break or become disconnected, they need to be restarted. If they are restarted incorrectly, transactions could double up or be missing completely.  This causes the bank balance to be wrong as well as other parts of your accounts, such as expenses or sales. 

2. Loan payments

Almost every loan payment consists of principal and interest. It’s common for loan payments to be coded to an expense account or the loan balance without being broken out accurately. This misstates the loan balance as well as expenses. 

3. Undeposited funds

Often, untrained QuickBooks users leave a balance in the clearing account called Undeposited Funds. This understates the bank account balance.

4. Owner’s draws and distributions

When owners take money out of the business, it’s called a draw or distribution. This transaction needs to be properly reflected in the Equity accounts. It’s not an expense. It’s common for your QuickBooks beginning balances and your Equity accounts to be wrong if they were not set up correctly from the beginning.  This requires knowledge of accounting, your type of entity, and the software.

5. Bank reconciliation

Because of the automated bank feeds, you might think that you don’t need to do a bank reconciliation any more.  But that’s simply not true. Transactions can be duplicated, go missing, or be coded wrong, which all can cause an incorrect balance. 

6. Write-offs

Most businesses need to write off a customer’s receivable that is no longer collectible or inventory that has lost value. This transaction requires special accounting knowledge to get it booked right in QuickBooks. 

7. Chart of Accounts setup

If the Chart of Accounts in QuickBooks was not originally customized to your business, you probably don’t have the accounts you need. You may also be using some accounts wrong. And if there are a lot of accounts you don’t use, then they need to be removed to save you time from scrolling through them all the time. 

8. Vendor setup

When you first pay a new vendor, it’s important to take the time to add them to the software completely, including asking for a W-9, sales tax exemption certificate, certificates of insurance, and other relevant documents. You may also want to track information that is not included in the standard QuickBooks setup. Setting up custom fields for vendors will help you track additional information.

9. Cash versus accrual adjustments

Your books can be reported in two different bases: cash and accrual. For tax purposes, you might need cash basis. For reporting purposes, you might prefer accrual basis. A professional can help you make adjusting entries when required, generate reports using the correct basis, and help you understand when you need each one. 

10. Sales tax

If you collect and pay sales tax and rely upon your accounting system to provide you with accurate sales numbers, your invoice transactions must be booked correctly. Your sales tax rates must also be set up accurately, and you must keep up with which items are taxable and which are not.

Once you remit sales tax, it must be booked to the correct liability account, and any discrepancy must be adjusted. 

11. Bill payment and check writing

Users new to QuickBooks can easily confuse the bill payment function with the check writing function.  If you enter a bill, you must pay it instead of writing a check.  Or you can simply write a check without entering a bill.  When used incorrectly, it can double up expenses and leave a balance in Accounts Payable that should have been cleared. 

12. Adjusting journal entries

It can be necessary at times to make journal entries to adjust account balances in QuickBooks. However, most of the time, a transaction function should be used instead, as when adjusting Accounts Receivable, Accounts Payable, Payroll, and many other accounts and functions.  Making the right adjustment requires a good knowledge of accounting as well as the software. 

13. Short cuts

Accounting professionals knowledgeable in QuickBooks can save you hours on your accounting by teaching you shortcuts, tips, and tricks that you can use when working with the software.

14. Classes

QuickBooks includes the capability of categorization, and you can customize this feature based on the needs of your business. An accounting professional can help you strategically think about how best to customize this feature based on their experience working with other businesses. 

15. Custom reports

Do you spend a lot of time exporting data from QuickBooks into spreadsheets and then manipulating the data to a format you need?  If so, you might be able to save time by getting help from a pro who can customize a report for you right in QuickBooks. 

16. Job costing

Job costing is not easy to set up, but once it is set up correctly, you’ll love the information you can get from the reports. You’ll be able to see your profitability, get larger draws sooner, and manage your business better. 

17. Items

In QuickBooks, items are things you sell. They can be goods, services, parts, or many other things. When items are incorrectly set up or used, it can mangle your account balances as well as cost a small fortune to fix. Items differ substantially from business to business. Some businesses are trickier than others to set up: restaurants, construction, attorneys, to name a few. Do NOT get advice from another business owner when setting up your items. It’s critical to get an accounting professional with expertise in QuickBooks to help you with this part of the software. 

18. Payroll

Payroll has gotten so much more complex over the years. Especially if you are switching systems mid-year, get an accountant to help you set up payroll when you first get started. 

19. Additional features you might not know about

QuickBooks software has been around since the 1990s. That makes it a very mature, robust application. There are many features you might not know about that could save you a great deal of time on your accounting chores. Learning from a professional can be very cost-effective and a good investment for your business.

20. Deleting anything

It’s a good idea to clean up unused accounts, items, vendors, customers, and other entities in your QuickBooks file, but doing so could cause huge problems.  It’s best to get help if you need to delete a transaction or a master file item. 

21. Coding errors

Sometimes, mistakes in coding are made. Correcting them can be harder than it looks. If you have a large number of transactions to correct, there are shortcuts you can learn to save yourself a lot of time.

22. Credit card reconciliations

Hopefully, any business credit card transactions that you have are automatically input into QuickBooks by using bank feeds. Just like the bank account, they need to be reconciled every month. 

23. User permissions

It’s good practice to tighten up any user permissions so that workers see only what they need to do their job.  A professional can help you customize user permissions to strengthen your internal control and reduce risk of fraud.

24. Known bugs

An expert in QuickBooks will know where some of the bugs are because they work with it all day long, every day, on multiple client accounts.  They can help you save time by knowing where things might cause you trouble and alert you ahead of time to the problem and any potential fixes. 

25. Unknown bugs

While an accounting professional might not know where every software bug is, they will know when you experience a bug that needs to be reported to the QuickBooks support team. They can help reduce the amount of time spent on such things and perhaps even suggest a workaround. 

26. Inventory reconciliation

If you sell physical goods in your business, you probably have an inventory. Periodically, the physical inventory needs to be reconciled with the inventory in QuickBooks. Professional help is advised when making adjustments to reconcile the books. 

27. Prior period transactions

Once a tax accountant has received your account balances for year-end reporting, nothing should be changed that is dated in a prior year. There is a way to lock these transactions so ending balances will still match beginning balances for next year’s reporting. 

28. Software licenses

Intuit, the company that makes QuickBooks, requires that each QuickBooks user hold a software license that is paid for. A professional experienced with QuickBooks licensing can help you stay compliant based on the number of users you need to access the account. 

29. Passwords

Good password management is essential to keep hackers away from your private data. Use strong passwords that are long, contain no dictionary words, include special characters, numbers, and upper- and lower-case letters. And if you lose a password, a professional can help you recover it. 

30. Settings

QuickBooks allows for customization, and much of this can be accomplished in the settings or preferences.  These includes features such as whether you want to number your accounts, turn off classes, and activate a number of other features. These decisions should be made proactively and strategically, and are best made with the advice of an accounting professional.

QuickBooks ProAdvisor Certifications

There are two certifications that an accounting professional can achieve for QuickBooks Online:

  • Certified QuickBooks Online ProAdvisor
  • Advanced Certified QuickBooks Online ProAdvisor

These certifications are offered by Intuit and require the accounting professional to complete training and an exam. The Advanced exam is quite difficult.

For QuickBooks Desktop and other products, these certifications are available:

  • Certified QuickBooks Desktop ProAdvisor
  • Advanced Certified QuickBooks Desktop ProAdvisor
  • Certified QuickBooks Point-of-Sale ProAdvisor
  • Certified QuickBooks Enterprise Solutions ProAdvisor

Getting Professional Help with Your QuickBooks® Software

If you’re ready to get professional help with your QuickBooks software, please contact us. We will evaluate the health of your books, make a plan to stay on track, and provide a quote for consulting or training in QuickBooks based on your specific needs. 

A 39-Item Tax and Accounting Year-End Checklist for Your Small Business

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Keeping your accounting records up to date all year long is essential for any business so you can see exactly where your business stands and be able to make thoughtful decisions based on clean numbers. 

At year-end, there are a few extra accounting tasks to finish so that your books are ready for the tax professional when tax time comes around. Plus, anything that wasn’t performed monthly or more often should now be completed at year-end. 

Here’s our list of items we feel every small business owner should consider doing or delegating at year-end.  Every company may not need to do every task – just the ones that apply to their business and their situation.

  1. Bank Statement Reconciliation

All bank account balances on a company’s balance sheet should be reconciled to their corresponding bank statements. Hopefully, your main checking account is being reconciled monthly, but perhaps your savings or investment accounts are not reconciled as often. 

Don’t forget bitcoin if you’re into digital currency.

  1. PayPal Reconciliation

 It’s easy to forget your PayPal account in the list of reconciliations to complete. It is effectively another cash account like your bank, and we list it here separately for emphasis.  If you’re using your PayPal account for both business and personal, get two accounts and your accounting will be less expensive and more straightforward.

  1. Petty Cash Reconciliation

Does your business have a petty cash account? If so, complete the reconciliation on the last day of your fiscal year. That will allow you to record all outstanding expenditures and replenish the account to its balance sheet amount. 

  1. Credit Card Reconciliation

If you have credit card debt in your business, each credit card statement balance should be reconciled to the amount on your balance sheet report.

If you are using your credit card for both personal and business, get another credit card and use one card for personal and another for business. This will greatly cut down on your accounting expense and keep things easier to track.

  1. Loan Reconciliation

If your company has any loans, the loan balance on your balance sheet should match the loan balance on the bank or lender statement. When payments are made, they include both principal and interest which need to go into separate accounts.  Often, this is not recorded correctly and can be corrected at year end.

  1. Interest Income and Expense

It’s a good idea to reconcile the balances in your interest income and expense accounts with the interest you received and paid from your financial institution reports.

  1. Accounts Receivable

If you invoice clients and have unpaid invoices, then you will have a balance in Accounts Receivable. The total of this account should add up to all the unpaid customer invoices you have.

You may need to make adjustments so that the balance is accurate. For example, some invoices may need to be voided or adjusted if the amount is incorrect.

  1. Uncollectible Invoices

If any of the unpaid invoices in your Accounts Receivable account are old and might not be collectible, they can be written off or sent to a collection agency.

  1. Inventory

If your business stores inventory or items for sale, then the cost of these items need to be reflected on your balance sheet. The reconciliation is a counting of physical inventory and matching that to the inventory balance on your books. 

Your inventory may be a lot more involved if you manufacture goods for sale. You will have components such as raw materials and work-in-process in addition to finished goods.

The cost of each item is determined by the accounting method your business has adopted.  Once the physical count is complete, an adjusting entry can be made to adjust the book balance.

  1. Inventory Write-Offs

If some of your inventory is no longer salable, it may need to be written off or sold for scrap. Your books should be adjusted for these changes at year-end or as soon as the items are determined unsalable.

  1. Accounts Payable

If you owe vendors money for work performed or items acquired, then you will have a balance in Accounts Payable. The total of this account should add up to all of the unpaid bills you have.

You may need to adjust the balance for accuracy. For example, some bills may need to be voided or adjusted if the amount is incorrect.

  1. Sales Tax Liability

If you collect sales tax when you sell your products or services and some of it is unpaid to the state or local agency, you should have an amount recorded in your sales tax liability account. It should be adjusted to the exact amount due. The amount will be determined by your payment schedule.  It could be a year’s worth, a quarter’s worth, a month’s worth, or some other amount.

  1. Meals and Entertainment

One of many things your tax accountant will be asking you for is the amount you spent on meals and entertainment.  It’s helpful to have those items in separate accounts with no other expenses so the amounts can be determined quickly. 

  1. Documentation for Invoices, Bills, and Receipts

If you are ever audited, you’ll need proof of what you spent in your business. Year-end is a good time to make sure your paperwork is in order and either filed in a safe place or scanned in and saved in the cloud. 

  1. Fixed Assets

Your balance sheet should reflect the long-term assets your company owns, such as vehicles, buildings, land, machinery, furniture, equipment, computers, and the like. Each of these items should be listed on your fixed assets schedule and the balance should reflect the correct value of these items.

  1. Depreciation

Certain fixed assets can be depreciated which means a portion of the cost is expensed each year. A company should have a current depreciation schedule and that should be updated each year or more often.

An adjusting entry should be made to reflect depreciation for the current year or period if it’s recorded more often.

A schedule should also be kept of differences between book and tax records so that it’s easier to complete the corporate tax return.

  1. Wages Reconciliation

Expense accounts that are payroll-related should be reconciled with the sum of the payroll reported on the IRS Form 941s in all four quarters. These accounts include wages and payroll taxes paid by the employer.

  1. Officers’ Salaries

Your tax professional may need the breakout in wages between officer’s salaries and all other wages if your business is incorporated. Your accountant can create a separate account and make a journal entry to break it out or you can track it outside of your accounting system.

  1. Bonuses

If you award bonuses at year-end, ‘tis the season to run that special payroll cycle.

  1. W-2s

Hopefully your payroll system automatically generates W-2s for your employees and the W-3 submittal, but it’s a good idea to check them to make sure they are accurate. You may also have state and local reporting requirements at year-end. 

The totals on the W-3 should reconcile to the corresponding payroll expense accounts.

  1. W-4s

Year-end is a good time to see if you have copies of W-4s in hand from your employees. 

  1. Vacation and PTO

If your company does not roll over vacation time for employees, there may be an adjustment to make in your payroll system to update the earned and unused hours.

This might need to be done on the employee’s anniversary date versus year-end.

  1. State Unemployment Insurance Rate

At the beginning of each year, each unemployment insurance agency in the states where you have employees working will notify you of your company’s new SUI rates. These should be entered into your payroll system so that the numbers can be accrued correctly.

  1. Workers Compensation Insurance Updates

Your workers compensation policy should always be kept up to date with new hires, new or changed work codes, employee terminations, and work location changes, but year-end provides a good time to double-check it. This year, your employees may very well be working from a new location, so be sure to update your policy if you haven’t already.

  1. Posters

If you have workers in a state that is a stickler for labor law posters, then make sure you send up-to-date posters to each work location in your business and instruct employees to display the employment posters prominently.

  1. W-9s

If you pay contractors, each one will need to furnish you with their W-9. It’s best to collect this before you issue the first check to them. But year-end is a good time to audit your records to see if you have what you need. 

You may also want to collect their insurance certificates at this time. If you don’t have them, you may be subject to paying more in workers compensation.

  1. 1099s

Your company may need to generate and send 1099s to any contractor you paid over $600 for the year that was not paid through credit cards or a payment vendor like PayPal.

  1. Other Account Balances

If you have other accounts not listed above on your balance sheet, they should be reviewed or reconciled. These accounts are less common: goodwill and other intangible assets, deposits, prepayments, escrow, and others.

It will depend on the nature of the account as to how the amount can be validated.

  1. Other Accruals

There may be other accrual entries not mentioned here that apply to your situation and that need to be made by your accountant.

  1. Barter Transactions

If you performed any barter agreements this year, you’ll need to make a manual journal entry to properly record the transaction.

  1. Other Adjustments and General Cleanup

Other adjustments you need to make to clean up your transactions can include things like transactions that got booked without a class; entries that were made to an account when a subaccount should have been used, entries that were booked net that need to be grossed up, and entries that were booked into the wrong income or expense account or category. 

You could also have accounts, customers, vendors, or other entities that were created incorrectly and that now need to be merged or deleted after the transactions are restated.

Your data will be more meaningful and consistent when you take the time to clean it up a little.

  1. Tax Documents

As you receive these at the beginning of the year, keep them in a safe place and all together for easy delivery to your tax professional. Better yet, scan them in as you get them and upload them to your client portal.

  1. Cash vs. Accrual Adjustments

Many small businesses use the accrual method of accounting to keep track of unpaid invoices and bills but use the cash basis to pay taxes. In this case, reversing entries need to be made so the books are right for tax but then are reversed on January 1 back to accrual.

  1. Backup Your Data

Hopefully, you’re taking a backup far more often than once a year. Year-end is simply a good time to take an extra backup or even test your current backups to make sure your disaster recovery plan is sound.

  1. Password Change

If your accounting, payroll, bank, PayPal, and other financial accounts do not force a password change periodically, now is a good time to reset all of them.  Use a different, strong password for each account.  Hacking and especially phishing are way up in volume this year, so your chances of having something bad happen are significantly increased.

  1. CPA Review

Now is a good time to allow your CPA to review your books to see if anything else should be done.  Or maybe you’ve delegated all of the above tasks to them and they’ve been with you every step of the way!

If you haven’t gotten your CPA involved yet, now is the time to do it.

  1. Close or Lock the Books

Now that everything is tied with a bow, no more entries should be recorded that have a date of last year or your balances will change and no longer reconcile with all the hard work you’ve done so far. Some accounting systems allow you to close the books by preventing new entries; this is called locking or closing, so use this feature if you have it. 

  1. Budget for Next Year

How close did you come this year to meeting your budget? An analysis of the year can be made at this time, along with the creation of a new budget for next year based on what you learned and your upcoming goals.

  1. Tax Projections and Plan

It’s a really good idea to set up a tax projection or planning meeting with your tax professional well ahead of December 31 in case there are any moves you can make to save on taxes. This should include determining if you have deposited enough of your tax liability so that you won’t owe a large amount come tax time.

You can also get a schedule of tax payments that need to be made in the coming year for the following year’s taxes. 

Conclusion

Of course, we can explain as well as help you complete all these items so that your books and taxes stay current, accurate and organized.  Reach out to us anytime so we can help you with all your accounting and tax needs!

5 Signs You Need to Upgrade Your Accounting System

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To maximize profits in your business, all of your business functions need to run smoothly, including your accounting department. Your accounting system is at the core of your accounting function. If it is old or lacks the features you need, your business may suffer.  Here are five warning signs you can look for to determine if it’s time to upgrade or replace your current accounting system with something more cost-effective.

1. Not enough users

If your current system limits the number of users you can have in the system at any one time, this could be a major enough reason in itself to switch to a larger option. Luckily, most accounting software companies include an accountant user for free, so at least this type of user doesn’t have to count toward your total requirements.

If you’re not sure how many users you currently have a license for, we can help you check on that. It might be as easy as buying more licenses if you’re not at the maximum capacity.  But if you are at maximum, it may be time to look for a better accounting system with room for you and your business to grow.

2. Outdated

If your accounting system runs on desktop-based software that’s upgraded every year and you have not paid for or installed the upgrades, then your system is outdated.  If it’s been sunsetted, that means the software vendor no longer supports the software. You are at major risk for the software crashing, getting buggy, getting hacked, or worse, permanently breaking.

The cost of getting the system current may be better spent looking for a new alternative, or moving to a cloud-based system where updates occur automatically.

3. Lack of functionality or scale

It is commonly the case that your business has grown so much that it’s outgrown your original accounting solution. That’s good news!  It’s time to find a solution that will scale better for your business.

You might be missing important features that are costing you more time and money than if you were on a system that offered those features. Common time-wasting activities in accounting include too much time spent on data entry and/or Excel spreadsheets to make up for what the accounting system can’t do.

4. Lack of reporting and analytics

If you’re unable to receive the reports and analytics you want to run your business better from your current accounting system, it may be time to switch. With better data comes better decision-making and if lack of data is costing you money, then it’s time to find a more robust system.

5. Lack of integrations

Thousands of apps exist to expand accounting systems’ core functionality. If your current accounting system lacks integration capabilities or does not have apps that are built to integrate with it, you may be missing out on additional functionality.  This include mobile apps; it’s quite common now to do much of your accounting work from your mobile phone.

Does your current accounting system have any of these red flags?  If so, please reach out. We can help you find a best fit for your accounting needs.

Mobile Accounting? It’s Here, Now

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That’s right: The future is here! Now that it’s officially 2020, it may be time to jump on that accounting app bandwagon if you haven’t already done so. The exciting news is you can actually do a lot of your accounting tasks from your phone instead of your computer.

Here are just a few examples of accounting things you can do on your phone.

Banking

Are you still trudging to the bank to make your deposits?  If so, there is a better way! Simply download your bank’s mobile app, login, and look for the Make Deposit function. Get the check you want to deposit, write “For Electronic Deposit Only” on the back and endorse it. On your phone, enter the amount, then take a picture of the check. Presto! Hit Deposit and the money will be in your account in no time.

Receipts

Shoeboxes of receipts are a thing of the past. (Thank goodness, we say, as we wipe our forehead!) Send your receipts to your accountant simply by taking a picture of them and sending them via email or through a document entry system like Receipt Bank or AutoEntry.  You’ll need to set this up to connect with your accounting system, but once it’s set up, it’s a real time-saver.

Accounting

Wondering how much income you made last month? Download your accounting app on your phone and login to get many of the features that you have on your computer onto your phone. You’ll need to be on a cloud system like QuickBooks Online or Xero, or possibly have a hosted desktop solution in order to have this functionality.

Payroll

There’s no need to be tied to your desk on payroll day if you can submit or approve payroll from your phone.  Many payroll systems have apps you can download so you can be free of your computer.

Add-ons

There’s a mobile app for almost any add-on you might need, such as TSheets for time tracking or Square for taking payments.

Artificial Intelligence

There are even some apps where you can talk in plain English and get a plain English answer back. These apps are using artificial intelligence which is exploding in the accounting space.  You can ask questions about your cash flow or check a metric that you like to follow.

Feel free to reach out to us if you’d like to find out more or get help moving some of your accounting functions to your mobile phone.

If you find yourself on the go more often than not, having constant access to your business accounts and these features will be beneficial.

Accounting Tasks at Year-End

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You might wonder why there are so many extra tasks at year-end. While the government requires much of the work, there is clean-up work and adjustments that need to be done to make the books accurate. It’s not always cost-effective to perform all of these updates monthly, so you’re actually saving money by doing some of them at year-end.

Here are just some of the items that are performed at year-end.

Tax-related:

  • If you have payroll, employees need to be sent their W-2s, and the federal and state government need a copy of the W-2s with a W-3 transmittal.
  • For employees, you must also have an up-to-date W-4 signed by them.
  • For employers, your federal unemployment 940 return is due.
  • If you have contractors, they need to be sent their 1099s, and the IRS needs the 1099s and the 1096 transmittal.
  • For contractors, you must also have an up-to-date W-9 form from them. You may also need to request an insurance certificate, or you may get a surprise at your workers compensation audit.
  • For vendors that claim exemption from sales tax, you’ll need to be sure you have an exemption certificate in your files from them.
  • If you pay sales tax annually, your return and payment are due.
  • Your personal federal, state, and local income tax and returns are due in the spring, and they can be extended until later in the year.
  • Depending on the type of entity your business is organized as, you may have franchise, federal and state tax returns to file. This deadline comes up sooner than the individual tax return due date.

Books-related:

  • Just about every asset on your balance sheet needs to be verified in some way or other:
    • Petty cash accounts need to be reconciled and reimbursed as of year-end
    • Bank accounts need to be reconciled with the bank statements. This includes PayPal.
    • Accounts receivable balances and all other receivables need to be tied to each customer and any amounts determined to be uncollectible need to be written off.
    • A physical inventory count needs to be taken and the inventory account should be adjusted accordingly.
    • Fixed assets need to be reconciled to their fixed assets ledger and depreciation should be properly recorded.
    • Goodwill accounts need to be checked and amortization adjusted.
    • Accruals, deposits, deferred accounts and all other asset accounts need to be adjusted if necessary.
  • Liabilities and equity need to be adjusted too:
    • Accounts payable balances and all other payables need to be tied to each vendor.
    • Liabilities that haven’t been recorded need to be added to the books.
    • Loans need to tie to lender statements, and interest paid on loans needs to be properly expensed.
    • The Equity accounts need to be checked and tied out to prior year balances.
  • Corrections and adjustments need to be made:
    • Any misclassifications and corrections need to be made on the books with adjusting journal entries or other classification tools.
    • If the client is a cash-basis taxpayer, a reversing journal entry needs to be made to get the correct tax numbers.
  • A clean set of reports can now be run and used.

Documents-related:

  • This is a good time to file and store your receipts in case you are ever asked for them. For long-term storage, thermal receipts should be copied or scanned in before the ink fades.

If you’re wondering why we’re so busy this time of year, it’s all of the extra work we have to do over and above the normal monthly load. If you have questions about any of this, just ask anytime!

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