Small Business Accounting Advice
Not sure how to handle your small business bookkeeping and accounting? Find the answers here! Accounting for your small business. Save money for your small…
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When you're just getting started with your business, you may be tempted to just use the account names and chart of accounts already provided to you in QuickBooks. However, with a few clicks you can create your own chart of accounts that will provide financial information to you that is actually helpful. Check out this post to learn how.
Every year, Amazon sellers need to reconcile their business bookkeeping to their Amazon 1099-K. Don’t worry, this isn’t difficult. In this post, I’ll walk you through how to tie out your Amazon 1099-K to the Profit & Loss report that you generate from Quickbooks Online so that you’re ready to file your taxes.
When I started doing eBay bookkeeping, I discovered that eBay reports were extremely difficult to use. As an accountant, I’m pretty good at using eCommerce platform reports and pulling out the numbers I need to make sure everything reconciles. But when the eBay reports proved to be a nightmare, I decided to look into some integrations for eBay bookkeeping.
When you first begin using QuickBooks, you'll discover that the default chart of accounts won't meet your needs as an Etsy shop owner. I'd suggest taking a few minutes in QuickBooks to customize your chart of accounts. Be sure to download the free chart of accounts file I share in this post so that you can set up your books set up in a snap.
As I’ve worked with Etsy shop owners, I’ve developed several different bookkeeping methods to meet their needs. Over time, I’ve had to adapt these as Etsy and QuickBooks have changed. Through this process, I’ve identified 3 main options for Etsy bookkeeping (with a bonus fourth option!). In this post, I’ll walk you through them so you can determine which option is the best for your business.
In this post, I’ll share my process for doing a bookkeeping review so I can see where things stand and quickly identify errors that may have occurred. This is certainly not the only way to go about reviewing. You could certainly go more in-depth, looking at every single transaction and how it was categorized, but my method is a high-level review that allows you to move quickly but also catch any major mistakes.
Each year, Amazon sellers need to go through the process of reconciling their business bookkeeping to their Amazon 1099-K. Don’t worry, this isn’t as difficult as it sounds! In this post, I’ll walk you through how to tie out your Amazon 1099-K to the Profit & Loss report that you generate from Quickbooks Online so that you’re ready to file your taxes.
There are many online accounting programs available today, but QuickBooks is what I recommend. QuickBooks is perfect for very small businesses all the way up to very large and sophisticated businesses. It’s easy to use, but it can grow with you as your business expands. In this post, I'll show you how easy it is to get started with QuickBooks.
Many of the default accounts in your QuickBooks Online chart of accounts aren't relevant for online businesses while other important accounts are missing. That's why it's important to take care of setting up your chart of accounts at the outset. I'll show you how you can customize your chart of accounts so that it has the categories you need as a Shopify store owner. You can get a free copy of the csv file to upload to QuickBooks online.
This question has come up many times with bookkeeping clients! How do you connect a new financial account to QuickBooks once your bookkeeping has already been established? It can be easy to mess up this process and accidentally assign your new financial account to an account already in QuickBooks. In this video, I'll show you how to connect a new financial account without messing up your bookkeeping that is already established.
“How do I pay myself from my small business?” is one of the most common questions people ask me. Another related question is, "How much can I pay myself?" If you are sole-proprietor or a single-member LLC (not filing as an S-Corp), the answer is shockingly simple.