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
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