Arizona Bookkeeping

Quick Answer Some of the most common small business bookkeeping mistakes include mixing personal and business expenses, putting transactions in the wrong categories, recording transactions twice, forgetting to record expenses, and not regularly checking QuickBooks against bank and credit card statements. Most bookkeeping mistakes can be fixed. The important part is finding them before they…

Quick Answer Your QuickBooks balance may not match your bank account because a transaction is missing, duplicated, entered incorrectly, or still processing at the bank. A difference does not always mean something is wrong, but if the balances consistently do not match, your bookkeeping should be reviewed. AZ Easy CPA provides bookkeeping in Chandler, AZ…

Quick Answer QuickBooks may be too messy to ignore when you no longer trust the numbers, your accounts do not match your bank statements, transactions are duplicated or missing, or you cannot tell whether your financial reports are accurate. A few mistakes are usually easy to fix, but problems that have been building for months…

Quick Answer If you are several months behind on bookkeeping, the best way to catch up is to work through your financial records in order, usually one month at a time. You will need to review your bank and credit card transactions, organize income and expenses, fix any mistakes, and make sure your bookkeeping matches…

Quick Answer If you fall behind on your bookkeeping, your business does not suddenly fall apart, but it can become harder to understand what is happening with your money. Transactions pile up, accounts may stop matching, and the information in QuickBooks may no longer give you a clear picture of your business. The good news…

Quick Answer Your bookkeeping is probably in good shape if your bank and credit card accounts match your records, your transactions are properly organized, and your financial reports make sense. If the numbers don’t match, you have transactions you can’t explain, or you aren’t confident that QuickBooks is right, your bookkeeping may need to be…

Quick Answer A balance sheet is a financial report that gives you a snapshot of what your business owns, what it owes, and what is left over at a specific point in time. It is one of the main reports small business owners and their CPA can use to understand the financial position of a…

Quick Answer A profit and loss statement is a financial report that shows how much money your business brought in, how much it spent, and what was left after those expenses. You may also hear it called a P&L or an income statement. A P&L is one of the easiest ways to get a basic…

Quick Answer A bookkeeping reconciliation is simply checking your financial records against your actual bank or credit card statements to make sure they match. It helps find missing transactions, duplicates, mistakes, or other differences that need to be fixed. Reconciliation is an important part of keeping your bookkeeping accurate. AZ Easy CPA provides bookkeeping and…