The biggest mistake small business owners make with their bookkeeping

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How to fix Uncategorized Income and Expenses in QuickBooks Online

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One faithful day, Jeff opened his QuickBooks Online company file to view his Profit & Loss report. He hadn’t looked through his QBO company in a while, but with tax time approaching, he wanted to make sure that nothing unusual stood out. But as Jeff looked through the Profit & Loss report, he saw two strange accounts: Uncategorized Income and Uncategorized Expense . He couldn’t remember how these accounts even got there. He thought he was doing everything right, but now he wasn’t so sure. Jeff shuddered with disbelief – his tax accountant was not going to like this. Jeff knew that he had to take action, but he didn’t know where to begin. If you’re like Jeff, and you have uncategorized income and uncategorized expenses on your books, then stick around as I show you how to fix uncategorized income and expenses in QuickBooks Online. FAQ: Why do we see uncategorized income and expenses in QuickBooks Online? One of the most common problems that I see on the Profit & Loss re...
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Why Do People Become Freelancers? [Infographic]

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Here’s a question that may often cross a professional’s mind: Why do people become freelancers? Whether you’re considering being your own boss or you already are, self-employment numbers are on the rise. But why are people choosing freelance over full-time employment? The primary motivating factor is control. FreshBooks recently published their third-annual Self-Employment Report. We […] The post Why Do People Become Freelancers? [Infographic] appeared first on FreshBooks Blog - Resources & Advice for Small Business Owners .
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Using a cleanup checklist for successful QBO cleanups

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QuickBooks cleanup projects can easily become overwhelming and time-consuming, especially if you’re not sure where to start. That’s why I always recommend using a cleanup checklist for successful QBO cleanups. It will help you stay on track, make sure nothing is missed, and give you confidence in the end result. Watch the video below or keep reading to see what a cleanup checklist can do for you. Click on the video link below to watch: Using a cleanup checklist for successful QBO cleanups First things first, what is a cleanup? What is a QuickBooks Online cleanup? Let’s define what I’m talking about just to make sure that we’re all on the same page. A cleanup starts with your client’s messy or incomplete books and follows a process – which includes reviewing the books, catching them up, fixing problems, and reconciling – and ends with books that are complete, accurate, and tax-ready. The cleanup process is full of challenges. When facing a cleanup, you may be wondering: Where...
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