Jennifer, Here Are Your Articles for Wednesday, May 10, 2017
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Caring for a Sick QuickBooks File


Imagine running a marathon after you’ve had a bad case of the flu. You wouldn’t get very far, the run would be painful at best, and it would take a long time to even finish - you might need an extension to get to the end.

Well, if your QuickBooks file isn’t healthy, trying to finish the marathon tax season can be very similar. And many of you reading this article may have just gone through that.

Out Of The Box Technology has a solution. It’s called a QuickBooks Checkup. You meet with one of our consultants and at the appointment you provide your tax return, two months of credit card statements, two months of bank statements and two months of loan statements. Armed with that information, our consultant will go over:

  • Your chart of accounts
  • Operational Reporting
  • Undeposited Funds
  • Your bank account and if it’s being reconciled correctly
  • Account Receivable and Accounts Payable – Any unapplied balances or negative amounts
  • Depreciation
  • Items List & Inventory
  • The closing date and password in your QuickBooks file and if they are set correctly
  • The appropriateness of transactions in Sales, Cost of Sales and Payroll accounts
  • Your balance sheet for negative assets or liabilities
  • Your equity accounts and balances for appropriateness based on the type of entity
  • And lots more!

All businesses using QuickBooks should have a Checkup because it gives a baseline of financials. Business owners can see what’s working and what needs a little help. When financials are running smoothly, business owners can concentrate on doing what they do best – running and growing the business.

Interested? Contact and she can discuss pricing and scheduling.

A small investment today will yield less stress going forward and especially at tax time next year.

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7150 SW Hampton Suite 200
Tigard, OR 97223
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Our firm provides the information in this e-newsletter for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.
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