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Salt Lake City Bookkeeping Blog

Seven Fatal Bookkeeping Mistakes You Can't Afford

Posted by Matt Roberge on Jan 28, 2020 12:00:00 PM

As a small business, there are many bookkeeping mistakes you just can't afford to make. 

A small mistake can mean a minor setback in your operations. Some larger ones can have you overpay taxes. There is not a company anywhere that wants to pay more tax than they legally have to. 

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Topics: Bookkeeping Errors, Efficient Bookkeeping, Do It Yourself Bookkeeping, QuickBooks advice, Tax Compliance, Outsourced Bookkeeping

Choosing a Payroll Solution: What You Need to Know if You Do It In-House

Posted by Leanne Armstrong on Dec 20, 2017 9:00:00 AM

Like most accounting processes, payroll can be a complicated affair. Whether your responsibilities lead you to an online provider, or a software program you can run from the office, you should be prepared to invest a certain amount of time and money into your payroll solution. Dealing with employee deductions and tax implications effectively is an important consideration after all - especially since payroll errors often lead to penalties for almost one in three business owners.

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Topics: Do It Yourself Bookkeeping, Outsourced Payroll

Small Business Bookkeeping Is Not A Drag

Posted by Matt Roberge on Aug 4, 2015 7:30:00 AM

Small business bookkeeping should not be a drag, but for many business owners that is what it is. Go and mention the word bookkeeping to any small business owner to see what reaction you get. Typically, it will be some sort of grunting sound effect and some head shaking from side to side. Many small business owners struggle with bookkeeping for one reason or another. Some people don't have the time or don't see the value in making time for bookkeeping. Others just don't understand bookkeeping or just really don't enjoy it. Here are a few ways to turn your bookkeeping from a burden into a pleasure. 

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Topics: Do It Yourself Bookkeeping, Small Business Bookkeeping, Small Business Growth, Grow Your Business, Outsourced Bookkeeping

Danger! Beware Of Do It Yourself Bookkeeping

Posted by Matt Roberge on Sep 2, 2013 7:00:00 AM

I'm always a bit concerned with the business owner taking the do it yourself bookkeeping approach.  It is not that I think handling your own business bookkeeping is a bad idea, but not seeking help is.  If a business owner wants to handle their own bookkeeping I always highly recommend that they at least consider our QuickBooks and bookkeeping training services.  With general guidance we can teach you how to handle your bookkeeping on your own.  It is much easier to set up and train someone on handling their business bookkeeping than it is to fix the mistakes they most likely will make on their own.  I do recommend that owners learn some bookkeeping basics as it helps them understand financial statements as they grow.  However, I very rarely advise someone to attempt their bookkeeping without some professional assistance.  Here are a few things to consider before you attempt your bookkeeping on your own.  

Opportunity Cost

Unless you are a bookkeeper by trade then you are not a bookkeeper.  If you went to school for business you most likely took a few general accounting classes, but are you really ready to handle your own bookkeeping? As a small business owner your focus should be on growing your small business.  You need to consider the opportunity cost of attempting to handle your own bookkeeping.  Are you actually going to save money by handling your own bookkeeping? Is your time better spent handling other growth oriented tasks? Are you really willing to make mistakes from decisions off of inaccurate financial reports?  

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Topics: QuickBooks Training, Do It Yourself Bookkeeping, QuickBooks Consultant, Small Business Bookkeeping, Outsourced Bookkeeping

3 Options To Finally Get Your Bookkeeping Done

Posted by Matt Roberge on Aug 21, 2013 7:00:00 AM

I see small businesses struggle every day with getting their bookkeeping done.  Common reasons include lack of time, lack of motivation, lack or experience and lack of desire.  For one reason or another small business bookkeeping gets the back burner.  I have found that the real reasons business owners let their bookkeeping slide is because they are intimidated by it, they don't have the knowledge to do it themselves or they don't want to spend money.  Somehow the bookkeeping always gets done or at least the taxes do.  When a small business owner is shown how a good bookkeeping system can help grow their business, their attitude totally changes.  Here are three options to finally get your bookkeeping done correctly and keep it updated regularly.  

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Topics: QuickBooks Training, Do It Yourself Bookkeeping, QuickBooks Consultant, Small Business Bookkeeping, Outsourced Bookkeeping

5 Financial Obsessions That Are Actually Healthy

Posted by Matt Roberge on Dec 14, 2012 8:18:00 AM

Typically in life obsessing about anything is bad.  However, I do believe that there are some financial obsessions that are healthy both for you personally and your small business.  Many individuals, families and small businesses are just plain bad at managing their finances.  Some people just don't understand accounting or bookkeeping so their finances tend to get the back burner.  Avoiding managing your finances is a huge mistake and will always come back to haunt you.  Here are five financial obsessions that you really should keep in mind and try to follow.

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Topics: Bookkeeping Errors, Do It Yourself Bookkeeping, Bookkeeping Services, QuickBooks Reconciliation, Personal Bookkeeping, Bookkeeping Help, Financial Forecasting, Outsourced Bookkeeping, Year End Bookkeeping

5 Major Bookkeeping Blunders And How to Avoid Them

Posted by Matt Roberge on May 31, 2012 7:45:00 AM

New clients are usually bitter sweet for us.  New clients are always great because it means more income for our business.  However, new bookkeeping clients typically also come with a significant amount of bookkeeping clean up and detective work.  It's no fault of theirs; they just don't handle everything cleanly and properly.  Here are 5 major bookkeeping blunders that we often see and how to avoid them.

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Topics: QuickBooks Tips, Efficient Bookkeeping, Do It Yourself Bookkeeping, QuickBooks Reconciliation, Bookkeeping Tips

It's January and You Have Done No Bookkeeping for Last Year

Posted by Matt Roberge on Jan 26, 2012 11:42:00 AM

If you haven't done any bookkeeping for last year is it time to panic?  Not necessarily, but you do have to act now.  You have an entire year of bookkeeping to do in order to file taxes on time, which is no easy task.  Here is a guide on getting your bookkeeping done in an efficient manner.

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Topics: Efficient Bookkeeping, Do It Yourself Bookkeeping, Year End Accounting, Year End Bookkeeping

Do You Have a Bad Bookkeeper?

Posted by Matt Roberge on Jan 24, 2012 10:32:00 AM

There are a lot of great bookkeepers out there, but there are also a lot of really bad bookkeepers.  We have a lot of different sources of obtaining new bookkeeping clients.  One of them is through bad bookkeepers.  More often than not when a new prospect contacts us it is because they are not happy with their current bookkeeper or bookkeeping service.  Is your bookkeeper good at what they do?  Here is how to find out.

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Topics: Bookkeeping Errors, Do It Yourself Bookkeeping, Business Ideas, Outsourced Bookkeeping

Is Your Current Bookkeeping System a Waste of Time and Money?

Posted by Matt Roberge on Oct 20, 2011 9:12:00 AM

This is a valid question; is your bookkeeping a waste of time and money?  Why do you maintain a bookkeeping system?  Is it because Uncle Sam says you need to?  Is it because you want to?  Is it because your bookkeeping system helps you run your business more efficiently?  Here are some good questions to ask yourself and your current bookkeeper to see if your bookkeeping system needs an overhaul.

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Topics: Efficient Bookkeeping, Do It Yourself Bookkeeping, Business Efficiency, Outsourced Bookkeeping