– BY MADDIE CRAIG | 2024
Managing your business finances isn’t always easy, and sometimes things get a little chaotic. One minute your books seem under control, and the next, you’re dealing with uncategorized expenses and mismatched balances. If that sounds familiar, you might be riding the "Hot Mess Bookkeeping Express" straight to a stressful tax season. 🚂 But don’t worry—we’re here to help you spot the warning signs early and steer clear of the chaos.
Signs You’re On the "Hot Mess Bookkeeping Express" 🚨
If your financials are feeling a little out of control, here are some key warning signs that your books need some serious TLC before tax time:
Unreconciled Accounts: If you’re not reconciling your accounts regularly, you’re flying blind. When transactions don’t match, it can throw your entire financial picture off, leaving you with inaccurate reports. You don’t want to discover this mess when you’re filing taxes!
Uncategorized Expenses: When you let too many expenses pile up without properly categorizing them, you create chaos in your books. These expenses can add up fast and leave you with a tangled mess of numbers that makes it hard to see where your money is going.
Big “Misc Expense” Balance: Sure, it’s easy to lump things into a “miscellaneous” category, but if this balance is large, it’s a clear sign you’re not keeping track of specific details. The bigger this balance, the more questions you’ll have later when it’s time to explain where that money went.
Negative Liabilities: Negative liabilities on your balance sheet are a huge red flag that something’s gone wrong in your accounting process. This can happen when entries are made incorrectly, and it’s an indicator that your books need a thorough review.
Loan Balances That Don’t Match Statements: If your loan balances aren’t matching your lender’s records, that’s another clear sign you need to investigate. Loan accounts should always match to the penny. If they don’t, you’re asking for trouble come tax season.
Feeling Like Your Books Are a Hot Mess?
Does any of this sound familiar? If you’re feeling like your books are a disaster waiting to happen, you’re not alone! This is something we hear from clients all the time. Luckily, there’s a solution that doesn’t involve waiting for things to spiral out of control.
Here’s How We Can Help
You don’t have to ride the "Hot Mess Bookkeeping Express". If you caught yourself feeling personally attacked by any of the signs above, it’s time to take action. Our team is here to help you get off this ride and straighten out your books, so tax time is smooth and stress-free.
We specialize in cleaning up messy books, reconciling accounts, and making sure every transaction is categorized properly. Let us take the stress off your shoulders and give you peace of mind knowing your financials are in good hands.
If you’re ready to get your books in order, contact us today, and let’s make tax time a breeze! ✨
Meet The Author
Maddie Craig is the founder of Blue Cypher Bookkeeping, a detail-oriented bookkeeper, and definitely a “numbers nerd”! She is passionate about helping organizations understand the full story of their financials and using it to make more confident decisions and grow strategically. She has experience working with a wide array of clients, including small businesses and non-profit organizations. When not crunching numbers, she and her husband enjoy traveling, being active in the community, and sharing their love for good food with friends and family.
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