We are done with the third quarter. With all the craziness going on this year, have you gotten behind on your bookkeeping?
Now is the perfect time to catch up and get organized to save yourself the hassle when the year ends. Here are three steps you can take to catch up on your books!
Step 1: Categorize! If using QuickBooks or another accounting software program, start by having all transactions uploaded or if you don’t use a software program, enter into a spreadsheet sorted by income or expenses and category. Review to make sure you have categorized them all into their correct expense accounts.
Step 2: Bank Reconciliation time! Reconcile each one of your bank and credit card statements to make sure you have everything accounted for and that you don’t have any duplicates.
Step 3: Review, review review! A few other things to consider is to check any loan payments you have made throughout the year and make sure you have accounted for interest paid or make sure you are keeping track of mileage.
Start with January and take one step at a time to start chipping away at all those transactions and you will be caught up before you know it. By taking the time to catch up on your bookkeeping now, you will save yourself and your accountant the hassle later on.
Feeling overwhelmed about trying to catch up on all of your bookkeeping? No worries – we are here to help. Whether you want us to take care of all your bookkeeping needs so you don’t have to worry about any of it, or want help or training with QuickBooks. Finish the year strong and call us with any questions you may have!