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QuickBooks CPA discusses how Sloppy Bookkeeping impedes Managerial Decisions

QuickBooks CPA discusses small business bookkeeping

Proper QuickBooks setup and consistent bookkeeping turns your financial data into a powerful managerial tool. Need a free consult on your QuickBooks business? (910) 399-2705.

QuickBooks CPAs see every way a company can mess up its books. While it isn’t a problem for us (we can fix almost everything in QuickBooks), it sometimes loses the Client opportunities to use its own bookkeeping for managerial purposes. This is one of my Dad’s (Gary Bode, CPA) pet peeves. And not without reason either! For once (wink).

Now, I’m not talking about mis-recording infrequent transactions, like say the purchase of a new vehicle with concomitant trade-in. I’m talking about mundane transactions like monthly phone bills and rent payments (if applicable).

I’m also not really talking about the IRS in this post, but they have to be mentioned. On the tax return, the IRS demands certain expenses be segregated out and reported separately. Like rent and advertising for example, even though they are both fully deductible, both for the company’s tax return, and the QuickBooks bookkeeping. Maybe so the IRS can better profile your return to find red flags. Nice. So we routinely look at the number of checks written for the year in these mandated categories, to ensure all of them are actually there, and not buried somewhere else, or, in the wrong year even. Meal expense is another IRS segregated category, probably for two reasons: it’s abused and only half of the actual expense is deductible.

“Sloppy small business bookkeeping impedes budgeting and cash flow management: essential processes during a Recession!”
Gary Bode, QuickBooks CPA and tax accountant

Here, finally, is what I am talking about. Let’s look at cell phone expense. It irritates me personally that I have to pay for all my cell carrier’s wasteful advertising. Am I on the fastest network, the most reliable one? Why is Hollywood on my bill? Rein it in, Sarah. The point is cell phones are generally a material expense, especially since most small businesses have multiple cell lines. And costs can be controlled, sort of, by modifying your plan or even switching companies. We look at your expenses aggregated over time. So if they’re not all in one QuickBooks account, what is an egregious expense can look OK, or at least as good as gets. You probably look at cell phone cost on a bill by bill basis. But, if it strikes you as high, it is hard to look back and compare previous bills if sloppy bookkeeping exists. So the business may lose opportunities to evaluate a controllable expense. And while we generate fees correcting sloppy bookkeeping, consistent bookkeeping is easy to do. My Dad says 95% of the QuickBooks bookkeeping for a business uses maybe 10 types of transactions, and he’s available to help with the other 5%.

So, sloppy QuickBooks bookkeeping can affect:

  • Your CPA fees.
  • Company cost control opportunities.
  • Increases IRS audit risk.
  • Impede budgeting and cash flow management.

How can we offer QuickBooks CPA services nationally?

As Client contacts from this website expanded into other areas of NC and then nationally, my Dad developed a digital toolbox to handle long distance bookkeeping and tax return preparation. We call this set of tools our virtual office. One tool is Cisco meetings. This allows my Dad and the Client to view QuickBooks simultaneously on his computer screen during a phone call. What a great teaching aid for QuickBooks setup and problem solving! It also circumvents some of QuickBooks marketing issues by allowing a non supported QuickBooks edition to remain useful.

How is Gary Bode, CPA qualified to help you with QuickBooks bookkeeping?

  • He’s taught QuickBooks online for Baker College. Also accounting and healthcare management.
  • He’s very patient with Clients. Why? He remembers how overwhelming QuickBooks can be.
  • He uses QuickBooks every day.
  • He’s worked with QuickBooks for 20 years.
  • He’s worked with every QuickBooks version; Basic, Premium and Enterprise.
  • He’s worked with many types of Companies using QuickBooks.

What types of QuickBooks CPA services do we offer?

We’re a boutique QuickBooks CPA firm that offers personalized QuickBooks services.

  • Help with deciding if QuickBooks is best for your business.
  • Helping the Client, with a new Company, to look ahead to see what QuickBooks issues need to be in place for future optimization.
  • Helping decide which edition of QuickBooks is best.
  • QuickBooks setup. Dad says it’s better to setup QuickBooks to show how the Owner, Member, Shareholders, Partners etc., intuitively think the Company’s finances. Usually that’s in terms of cash flow. Forcing accounting conventions on a Client who isn’t trained in them just seems wrong.
  • QuickBooks tutoring. If you have the time and patience to take a general QuickBooks course, that’s great. But you’ll spend time on issues your business doesn’t use. Our tutoring is specific for your Company. There’s less frustration and a lower learning curve.
  • QuickBooks support.
  • Dad says that any QuickBooks CPA eventually sees every way to mess it up. So they get lots of practice fixing QuickBooks issues.
  • Helping the Client use and develop managerial tools from QuickBooks data.

Please call us for a gratis initial consult on your QuickBooks based Company. (910) 399-2705.

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