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Your chart of accounts is the foundation of your financial reports, but if it’s messy, overcomplicated, or outdated, it can cause more confusion than clarity.  The good news? A little cleanup can make your numbers easier to understand, use, and trust.  1. Too Many Accounts = Too Much Noise   A common issue in early childhood education businesses is having a separate account for every expense. This makes reports longer (and harder to read) without adding real insight.   Pro Ti

The new year is the perfect time to give your bookkeeping records a fresh start. Whether your QuickBooks Online account feels neat and tidy, or has a “holiday hangover”, these simple steps can help you set the tone for a more organized, stress-free year.  1. Revisit Opening Balances on Your Balance Sheet   January is your reset button. Confirm your bank and credit card accounts match your December ending balances. If there’s a mismatch, this is the moment to fix it (before th

As you wrap up payroll for 2025, there’s one important task that often gets overlooked, but skipping it could lead to reporting issues with the IRS. If you’re an S-Corp owner with 2% or more ownership and you (or your family) are enrolled in your company’s health plan, this blog is for you. Here’s how to make sure that employer-paid health insurance is correctly reported by your final paycheck of the year: 1. Does This Apply to You? If your company doesn’t offer health insura

The end of the year brings glitter, chaos, and the occasional cookie-fueled meltdown (from kids and adults). But tucked between the classroom parties and PTO meetings is a golden opportunity; giving yourself the gift of clean, accurate books.  Why? Because January you will thank December you.    1. Say Goodbye to Lingering Tasks   Have uncategorized transactions or unreconciled accounts hanging around? Now’s the time to tie up loose ends before the calendar flips.  Pro Tip :

November might seem early to think about preparing your accounting records for your tax return filing, but that’s exactly why it’s the best time to start! You still have time to make adjustments and catch mistakes in your accounting system, while avoiding the January rush.     Here are steps you can take to prepare, without the stress:     1. Review Your Transactions for Accuracy    Small errors now can cause big headaches later. Take the time to check that transactions are p

Not all bookkeeping problems are obvious. Sometimes, the warning signs are subtle, and if you catch them early, you can avoid costly mistakes later.  Here are three financial red flags to keep an eye out for as you move into the final stretch of the year.  1. Frequent “Uncategorized” Transactions  If you see a growing number of transactions sitting in “Uncategorized Income” or “Uncategorized Expense,” it’s a sign something’s slipping through the cracks.  Pro Tip : Review thes

Back-to-school season is a whirlwind for early childhood programs; new students, updated schedules, and a rush of supply orders. In the middle of all that, it’s easy for your bookkeeping to get pushed aside. But a little financial organization now can make the whole school year run more smoothly. Here’s how to keep things simple (and your books clean) during this busy season.   1. Organize Your Expense Tracking Back-to-school often means a spike in supply and staffing costs.