39 – So, You’re Behind in QuickBooks….



39 – So, you’re behind in QuickBooks

June 7, 2019 

Introduction Sponsored by: This episode is brought to you by my bookkeeping strategy sessions. If you’re stuck and don’t know how to tackle your massive bookkeeping problem that’s keeping you up at night, I can help. We can create an actionable, manageable plan for you to catch up with your books and how to not fall behind again. To book one of these limited sessions, email me at lydia@dacbalance.com to be sure we are a good fit to work together. Now, on with the show.

So….You’re behind in QuickBooks.

If you have been running a business, you may have setup a QuickBooks Online account because you’ve heard that’s what you’re supposed to do to keep up with your bookkeeping for taxes.

The more that you started looking at QuickBooks, the more you may have realized that it’s not as straightforward as you thought it would be and there are no step by step instructions on what you’re supposed to be doing each month. This probably has led to the feeling of being behind because, well, you don’t know what to do to catch up.

Anytime that I have felt behind in something, I’ve also felt embarrassed, especially the long that I’ve had a business and not known how to do something, I’ve felt a lot of shame because you’d think by now I’d know how to do this, but I don’t.

Maybe you’re a perfectionist and you’re in QuickBooks all the time and it never looks good enough for you or finished. You’re always trying something new and never feeling like you have it together.


In today’s episode I first want to talk about how do you know if you’re behind and most importantly how to get caught up.


How do you know if you’re behind.

The most important thing you can do in QuickBooks to stay on track for your monthly financial statements and taxes is to reconcile your bank account. If you grew up with a checkbook then you probably did this each month where you balanced your checkbook to make sure everything was recorded. Well, it’s the same idea. If you’re not familiar with this, reconciling is simply taking your bank statement, and in the reconcile feature in QuickBooks, making sure that all of the income and expense line items are recorded and everything should balance to zero. Once you’ve done this, you can easily find if there is a duplicate income or expense that needs to be voided or if you forgot something altogether.

You are behind if you have never reconciled your bank statements before if you haven’t in several months.


For your income, if you’ve been producing invoices for your clients in excel or another program besides QuickBooks and not going back and entering the data or just clumping it into general ‘revenue’ then I would say you’re behind. Having your revenue broken down specifically to what a customer bought is extremely important when looking at profitability. If you don’t have good data in the first place, you’ll never be able to make good decisions. To get caught up, you do need to go back as far as you can or want to and enter in those details. This may mean you go back to January 1 of this year and start from there or you may start from June 1 of this year.


For your expenses as well as income, if you have never double checked your work, then I would say you’re behind. When all of your transactions are dumped into QuickBooks Online from your bank, it doesn’t know why you purchased things. If you’ve only ‘accepted’ the transactions to reconcile and never gone back to make sure that all of your expenses are categorized correctly, then you’re behind and you really don’t have accurate financial statements to look at because it’s all jumbled up. To get caught up, you need to comb through and verify that everything is in it’s correct category in your chart of accounts.


Those are just a few ways that you could be behind in QuickBooks and some solutions on what to do to get caught up.

If someone were to go through my website and tell me all the things that I’m behind on, I would be overwhelmed and honestly, would probably avoid dealing with it. I get it. But the longer you let QuickBooks stay a mess, the harder it is to catch up. I want to help you. At the beginning of the episode, I talked about my one hour strategy sessions. If something in this episode made you wonder if you’re doing something correctly or you just don’t know how to navigate the program, I can help you get caught up and know what to do. During the hour long call, we’ll walk through the specific problems you’re having and I’ll show you the solution. You’ll get to ask questions and I’ll send you a video of your session so you have the training whenever you need to refer back to it. These hours are very tactical and my goal is for you to walk away knowing exactly what to do and with the confidence that you can do them. If you know that you’re behind and you just want to outsource this to someone else, feel free to contact me. I have a plethora of virtual bookkeeper contacts that I can refer you to who would be happy to do the work for you. Once you have your numbers, we can get together again to talk about what it all means, your profit margins and how you can make better decisions in your business once you know your numbers.

I’d be honored to work with you. To get started, email me at lydia@dacbalance.com with the problem you’re having and we can discuss the best way to get to a solution.

Next week, I’ll be sharing an episode titled ‘What to do when you’re done reconciling.’ If you are ready to use your numbers to help your business, please subscribe so you will be notified when the episode drops.

I would love to connect with you. You can find me on Instagram @lydia.miller.mba and always by email lydia@dacbalance.com.

So until next time, go, make it happen.


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