10 Bookkeeping Errors that Could be Hurting Your Bottom Line

10 Bookkeeping Errors that Could be Hurting Your Bottom Line

Managing your business’s financials can be a challenge, especially when it comes to keeping the books clean and accurate. But here’s the thing—bookkeeping mistakes, even the small ones, can seriously hurt your bottom line over time. From tax issues to cash flow nightmares, these errors can slowly chip away at the financial health of your business, and often, you don’t even realize it until it’s too late. Let’s dive into 10 common bookkeeping mistakes that could be costing you, and how to avoid them.

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What Is Canadian Sales Tax? A Comprehensive Guide to Managing, Calculating, and Complying with Federal and Provincial Regulations in QuickBooks Online®

What Is Canadian Sales Tax? A Comprehensive Guide to Managing, Calculating, and Complying with Federal and Provincial Regulations in QuickBooks Online®

Managing sales tax can be one of the trickiest parts of running a service-based business in Canada. Whether you're a coach, consultant, designer, or any other kind of service provider, understanding and handling sales tax is crucial to keeping your business compliant and efficient. By the end of this guide, you'll have a clear, step-by-step approach that helps you stay compliant, simplify your bookkeeping, and ensure you're charging the correct tax rates. Let's dive in and make sales tax one less thing to worry about.

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What Are Undeposited Funds in QuickBooks Online®? A Guide to Understanding and Managing Them
QuickBooks Online Katie Caplan QuickBooks Online Katie Caplan

What Are Undeposited Funds in QuickBooks Online®? A Guide to Understanding and Managing Them

In this guide, we’ll demystify undeposited funds in QBO. We'll break down what they are, dive into scenarios you might encounter, spotlight typical errors, and walk you through step-by-step fixes. By the end, you’ll have a handle on managing these funds seamlessly, keeping your books accurate without the stress.

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What Is the Chart of Accounts in QuickBooks Online? A Guide to Setting It Up Correctly
QuickBooks Online Katie Caplan QuickBooks Online Katie Caplan

What Is the Chart of Accounts in QuickBooks Online? A Guide to Setting It Up Correctly

The Chart of Accounts is essentially the backbone of your financial system in QuickBooks Online. It's designed to help you categorize all your financial transactions, ensuring that every dollar spent or earned is tracked and recorded in the right place. This organization tool not only simplifies the process of bookkeeping but also powers up your financial reporting and analysis capabilities.

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What Is the QuickBooks Online® Dashboard? A Guide to Mastering Your Financial Hub
QuickBooks Online Katie Caplan QuickBooks Online Katie Caplan

What Is the QuickBooks Online® Dashboard? A Guide to Mastering Your Financial Hub

Think of the QBO Dashboard as your financial control room within QuickBooks Online. It's designed to not only simplify your bookkeeping tasks but also enhance your ability to oversee your business finances and provide you with instant, actionable insights. This tool is the beating heart of your financial data, accessible at a glance to make informed decisions quickly.

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