Posts Tagged ‘asheville nc’

Auditing Quickbooks – A How To for Small Business

April 25, 2011

quickbooks financial software Understanding Quickbooks – Bookkeeping Basics

Many small businesses struggle to keep up with the books without even thinking of how much time it will take to  review, evaluate and confirm their bookkeeper or accountants’s work. That is why there are a few basic things any small business owner can review and know in order to be sure their books are accurate and sound. Auditing your Quickbooks file can seem like a daunting task, but if you understand the power of Quickbooks as a tool you can learn to use it to empower and strengthen your business.

NerdEnterprises.com Tutorial on How to Audit Your Quickbooks File Simply and Easily

A great site for anyone looking to learn how to manage their own bookkeeping is NerdEnterprises.com. There are many blogs written about various bookkeeping and accounting topics, as well as video tutorials for various Quickbooks actions and features. The blog titled:

How To Audit Your QuickBooks File – 5 Things EVERY BUSINESS OWNER SHOULD KNOW how to do in QuickBooks is an excellent source of information when it comes to auditing the basic information in your Quickbooks file. According to NerdEnterprises.com when it comes to small businesses “there are 5 things you should know how to do in QuickBooks to be sure your bookkeeper(s) are doing their jobs properly.” NerdEnterprises lists these 5 things as follows:

  1. Run key reports including: detailed Balance Sheets, Accounts Receivable, and Accounts Payable Reports
  2. Drill into a transaction from a report.
  3. Drill around a transaction to see related transactions.
  4. Run the audit trail report
  5. On any transaction detail report, show “Last Entered/Edited (and by whom).

Watch the video included in the blog and find out how to do this in a practical way. The goal according to NerdEnterprises.com is to “protect yourself against costly mistakes as well as dis-honest employees. In smaller companies the management, particularly the ownership ARE the internal control of the company. This means they are the ones who protect the assets of the company.”

Learn how to maintain quality control when it comes to your bookkeeping and accounting. Be able to have a clear conversation with anyone helping you maintain  your financial data and expect them to speak openly, honestly and in detail to you about their work.

To find out more tips and tricks about accounting and bookkeeping for small business visit our website www.WNCSnap.biz.

To find out more great tips from NerdEnterprises.com visit their website and blog.

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Quickbooks Tips for Small Business

December 15, 2010

Small businesses are often dealing with budget issues and yet, they have many of the same financial tracking needs as any medium or large company. It is essential for any business owner be aware of some basic financial information. Up to date financial tracking and reports allow business owners and operators to make successful decisions based on accurate and real data.

Quickbooks – The Best Tool for Small Business Financial Tracking & Bookkeeping

Small businesses can follow some basic rules when using Quickbooks to help make financial tracking simple and affordable.

1. Set up your Quickbooks accounts fully. Your Quickbooks file should track all relevant accounts related to your business including checking, savings, credit cad and Paypal accounts. This will allow you the highest level of accuracy.

2. Create custom categories when necessary. Instead of using the preset categories create any specific custom categories your business needs. Also be sure and ask your accountant or bookkeeper what categories various transactions are best placed in. If you are not certain of how to get the highest tax advantages, the best thing to do is ask a tax expert.

3. Regularly review your Quickbooks reports in order to maintain a clear perspective on your business’s financial performance. Quickbooks can provide a variety of reports based on the complexity of your business and the QB tools you have chosen to use.

In addition to these 3 simple tips, researching Quickbooks online may also be helpful for any small business planning to manage the financial tracking in house. You may also consider hiring a QB expert to provide affordable Quickbooks set up and QB training services. With just a little bit of expert advice many small business owners can learn the basics of Quickbooks and accurately and affordable manage the bookkeeping. Proper bookkeeping is what will allow your business to grow into a strong and secure enterprise.

Image: Pixomar / FreeDigitalPhotos.net