Provoking thought for the day!
Seeing that tax time is right around the corner I thought it would be a good time for this reminder.
Why do business owners who have to or choose to do their on bookkeeping deem it not necessary to reconcile bank and credit card accounts regularly? How can you ensure that all transactions have been captured?
The more transactions you have it’s recommended to reconcile monthly. But at the very least quarterly. In the past month I have seen 4 separate set of books that shows accounts have never been reconciled. And I’m not talking about reconciliation for last year I’m talking multiple years.
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Comments (1-6)
Some business owners don't know what they don't know! And that's why there's experts like you who can teach us, guide us so that we can do and be better!!! 😉
We switched to a professional bookkeeper about three years ago and now the books are always ready for the CPA early. Saves us a lot of time throughout the year. She works on our books once/month and it has worked out well and saves us a lot of time and unnecessary hassles.
They need education. The majority think that whatever software they use (QuickBooks) does this for them or they don't even realize that reconciling is a thing!
That's why they need you, Darrick!
Use of a Professional Bookkeeper
Use of Professional Bookkeeper