Mastering Your Small Business Finances ~ Money Management, Bookkeeping, Entrepreneurship, Side Hustle, Accounting, Cash Flow, Solopreneur, Strategy, Tax, Virtual Assistant Marketing Mindset QuickBooks

135: Adjusting Journal Entries In QuickBooks Whether You Are Starting A Business Or Side Hustle, A Solopreneur, Entrepreneur, Mompreneur, Freelancer, Bookkeeper, Virtual Assistant Owner Self-Employed

05.03.2023 - By Chris Panek - CPA, Business Strategist & Business Coach For Entrepreneurs Growing Their BusinessPlay

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Now that the tax deadline is behind us unless you filed an extension, it’s time for you to make sure that your books match your tax return.  Most of my listeners on this podcast do their own bookkeeping for their business, and this is one of the steps that business owners are normally a little hesitant or unsure about how to handle.  By being proactive and learning the right way to take care of this situation, you’ll be able to rely on your financial statements and utilize them in future planning for your business.  In today’s podcast episode, I’m digging into how you should be recording any adjusting journal entries that should be made in your bookkeeping software so that your books match your tax return.  Whether you are starting a business or side hustle, you’re a self-employed individual, a solopreneur, entrepreneur, mompreneur, freelancer, small business owner, a remote, virtual, online, or in-house bookkeeper, or a virtual assistant or VA; taking the initiative to ensure your books match your tax return is another way to Master Your Small Business Finances.  These tips are essential whether you are using a computerized software system like QuickBooks, Xero, Wave, FreshBooks, or HoneyBooks for your business finances; or doing your bookkeeping manually with an Excel spreadsheet or even a Google Document…

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