Hello all, I recently started a bookkeeping business on the side of my full time accounting job. One thing I am wondering how to do however, is how to accrue prepaid tax with a connected bank account. The standard entry for this would be: Dr. Accrued Tax/Prepaid Tax Expense/whatever accrued tax account you want to call it Cr. Cash But I am struggling to see how to do this if my bank balance is connected through quickbooks. Any advice is appreciated! submitted by /u/brewmer [visit reddit] [comments ..read more

The main issues I have seen are clients not getting information quick enough or their lack of trust to give complete access to their software. What are other problems that are really common, and how do you currently manage them? Is there a solution you wish existed that could help streamline or eliminate them entirely? submitted by /u/byZenithOW [visit reddit] [comments ..read more

How do you all find clients that don’t need more than simple monthly bookkeeping services? I’m looking to only do simple services like categorization, bank reconciliations, and P&L reporting for now. Anyone have any insight on finding the ideal client for something like this? Thanks in advance! submitted by /u/frankthony [visit reddit] [comments ..read more

Hi there, I'm a student accountancy and I am researching how simple bookkeeping apps like Dexxter or cashaca compare to actual bookkeepers. For this project I ask a few questions: 1) Are there any bookkeepers that use these kinds of apps themselves, and if so: Is it your main program, is it to better understand the problems a client might have or is there another reason for you using these apps? 2) As an entrepreneur (little or big) have you tried using these apps to start out and did it work out or did you have to switch to consulting a real bookkeeper? 3) As a bookkeeper, have you seen tren ..read more

My client had Square transactions going to his personal account (Chase) instead of his business account (BoA) for a few months. As a bookkeeper/accountant, how do I account for this in his records so he doesn't get in trouble? I'm using Wise accounting software. I feel like I need to make a journal entry but I don't want to mess it up. Also, does he need to 'pay' back to money into his BoA account? Or can it all be accounted for in the J.E.? submitted by /u/Crooked-Pinky [visit reddit] [comments ..read more

I saw the post about someone using Excel for their bookkeeping and the general advice from everyone was not to have this person as a client due to the hassle of not using something like Quickbooks. The point of sale software we use (small industry specific software that no one here will have heard of, only a few hundred users), has a full general ledger built into it. When cashing out at the end of the day, sales/cogs/inventory accounts get updated automatically. There is an AR module that is also integrated with the POS. Receiving new product automatically posts journal entries for inventory ..read more

What do you think about 25 years junior accountant have only a bachelor in Accounting & Finance (the department name is Finance & investment) the name cause a misunderstands to employers an recruiters, he told me he want to get, FA1, FA2, MA1 & MA2 (on ACCA-x with edx.org) | think, then IFRS certificate & IFRS diploma, as he said to me he want to start like what mentioned above because he work as bookkeeper, he never did a financial statements • finance & investment graduates can work in accounting and big 4? submitted by /u/Remote_Professor_568 [visit reddit] [comments ..read more

Hello! How do I resolve this error that appeared in Syncromsp when syncing with QBO ( I was receiving a purchase order)? "Actual QuickBooks Error: A business validation error has occurred while processing your request: Business Validation Error: Select an account for this transaction." submitted by /u/Background-Drag6915 [visit reddit] [comments ..read more

I have a “client” (sigh he’s my nephew) that owns a construction business and a freight business and is years behind on his taxes and bookkeeping. He has boxes and boxes of receipts. Everything is downloaded in QBO. But classifying the transactions is a nightmare. The main business is his construction work. He has four bank accounts, 6 credit cards and uses his business account for personal expenses (I’m so tired of seeing Little Ceasars for his kids in the bank feed!?) and money is spent for the freight business from the construction company and back and forth. I need to actually look at 90 ..read more

No doubt this has been asked many times buuuttt...I just finished up my education and am ready to start appplying for positions. Any advice on how to land that first bookkeeping job? Also, what are some good websites to use? I only half trust Indeed as I noticed there have been an increasing amount of scam posts on there over the last year. I do have an upwork and Roberhalf account, though I am still getting a feel for them. Are these good websites, and for what sort of employment are they ideal? Anyway, I am super nervous that I will fail and forget everything, so any words of advice/ encour ..read more