[fname], last week I emailed you and talked about Quickbooks Mistake #6: Forgetting to Separate Principal & Interest on Loans.

 

Today I want to explain our last...

 

Quickbooks Mistake #7 - Missing Reconciling to Bank Statements Monthly

Often we find business owners (or their bookkeepers) are NOT going in each month and RECONCILING all the bank statements they receive with their Quickbooks. Or one or more of the mistakes we just covered is preventing them from ACCURATELY reconciling their statements.

Although it is obvious, not doing this consistently (throwing the paper bank statements in a drawer each month and trying to reconcile weeks or months later) OR not reconciling at all does not give you the ability to see whether your business is profitable (or how profitable it is) or what expenses or revenues need to be looked at closer.

If this is a challenge in any form or fashion, we can help you with one of our Quickbooks solutions.

As you read the rest of the report, remember each of the mistakes just remember that making one or more of these mistakes can cause you to under or over pay your state and federal taxes.

Not to mention over or understating your expenses and profits on your statements and to your bank if you submit statements to them for loans or other reasons.

That is why at the end of the report you will see I offer a Free Quickbooks Accuracy Scorecard where I or my Quickbooks expert here in our office will perform a Free Quickbooks Evaluation on your Quickbooks program company file.



Enjoy the report and if you have any questions or want to schedule your Free Quickbooks Evaluation just call my office at 313-388-0300.
 


Regards, Phil

Philip Schreiber, CPA

Schreiber Advisors, PC

Certified Public Accountants
14801 Southfield Rd

Allen Park, MI 48101

313-388-0300

phil@cpatechs.com

www.detroit-cpa.com