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Signs Your QuickBooks Has Mistakes – Ep. 111
Did you know your QuickBooks might be hiding crucial mistakes that could impact your business? Today, we’re diving into the signs that your QuickBooks might need a closer look. Let’s dive in!
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Podcast Key Points:
0:00 – Episode Overview
1:40 – Why Do Mistakes Happen With QuickBooks
3:49 – What To Look For In Mistakes On QuickBooks
7:04 – The Problem With Knowing What To Do
Frustrated that you aren’t making the progress that you should within your finances? Create an unshakable money mindset with the Money Mindset Mastery Checklist
Signs Your QuickBooks Has Mistakes
Let’s talk about the signs that mean your QuickBooks might have mistakes in them. Okay? Before we dive into this though, I want to like set the Preface. There is like knowing what to do and having time to do it.
And we’re going to talk about like how to handle all of those things. But in most importantly as we start this episode, I want you to remember not to be hard on yourself, okay? Because most people don’t know this. All right. So, with that in mind, let’s get to it.
This is the Your Money Your Life podcast. I’m your host, Aimee Cerka, a money confidence coach for female entrepreneurs on the path to six figures.
After over 10 years in the personal finance industry and multiple personal financial and medical crisis. I was fed up with the lies that are being shouted from the rooftops by the gurus and the media said. I help you simplify, solidify and scale your money. By blending tactile money strategies with mindset work, you can create unstoppable finances together, you’ll finally figure out the money thing. So, you can make more money in less time without living off of beans and rice, or sacrificing your lifestyle.
Episodes here on the podcast are short and sweet. Being married, having four kids at home, homeschooling being the CEO running the household, I’m kind of busy. And I know you are too. So, let’s keep it simple and get to the point. Welcome. I’m so glad you’re here!
Signs Your QuickBooks Might Have Mistakes
Welcome back to the Your Money, Your Life podcast. I’m your host, Aimee Cerka. We are talking today about signs that your QuickBooks has mistakes in it. Alright. So, like I was talking about when we open.
There is like a preface here is like knowing what to do and having time to do it. And I’ll mention more at the end. But my current sale special that I’m having right now is on my Money Makeover QuickBooks audit.
So, what I do is I go through in itemized, like, show you step-by-step where these things actually are, so you’re not trying to just do it yourself. And then from there, you know what you actually need to do, and then you can make time to do it. And that just worked. So, I’ll share more info at that at the end.
Reasons for QuickBooks Mistakes
So, let’s just like set the stage. Okay. So, first thing we need to know is like, do you have mistakes because most people don’t know that they have mistakes? And there’s four reasons that mistakes in QuickBooks happen. Okay?
So, the first one is not knowing how to enter transactions properly. This can be like, categorizing things wrong, you can end up with duplicate transactions, if you’re not doing the proper steps, all these different things, okay.
The second one is not knowing how to properly enter your income. This happens all the time, especially if you have bank import set up. Well, bank import is amazing. totally love it, I use it. You can’t just import your income that causes errors within your QuickBooks.
Then the third thing that causes mistakes, errors within your QuickBooks is ignoring the issue. Okay? So maybe your bank account balance there in QuickBooks and what’s actually in your bank account are totally different. And month after month, like you just kind of ignore it. That causes more mistakes, right.
And then the fourth thing is like not knowing how to even fix it. And let’s be transparent. This is where I was at when I had mistakes in my QuickBooks. It was like, I don’t even know, there’s so much information out there.
What to Look For
I don’t even know where to begin to fix it. So, if that’s you, don’t worry, I’ve got you covered. But that’s how the mistakes happen. But what do you actually need to look for? If you have mistakes in your QuickBooks? Okay, we’re gonna run through a quick list.
I’m working on a workshop that’s going to like walk you through this. Honestly, right now the audit is 50% off I would just do that but I guess you technically have an option for the workshop to is not even available yet. Just I guess you could send me a message if you want to learn more.
The first thing we need to look at is like your vendors your bills of vendors are people who you pay money. Okay, now if you’re an online business, you probably don’t have these set up and maybe if you do is incorrect, like if you’re an online service-based business. So the people that you owe money to this will be unpaid vendors or bills.
You also need to check and see if there’s any customers that you have invoices out to that haven’t paid and then you also like maybe they actually paid but it didn’t get marked as paid with showing overdue but that’s not actually overdue. That’s like a to a spot to check as well because that could happen if you’re not in Ensuring how people pay the invoices correctly.
The next thing is looking at your profit and loss. Now maybe you’re somebody who like never looks at your profit and loss. It’s like speaking another language. But there’s a couple things to look for inside the profit and loss.
So you shouldn’t have negatives and your profit and loss, and then take a look at your balance sheet. Those things need to make sense as well. Then reconciliations that is like the big one, I guess they’re all big. But the reconciliation is the one where I get like, people freak out on me that if you haven’t been reconciling, there’s no way to know if you have mistakes.
Handling QuickBooks Mistakes
And then if you’re ignoring like stuff that’s happened, again, those bank balances mismatch. Some of you’re just reconciling like the transactions from last month that was never set up correctly, but still causing mistakes and errors within your QuickBooks, and that is still fixable. Within like IRS regulations, we can totally do that. Okay.
And then hopefully, you’re using undeposited funds. That’s a one, two, I’ve got my checklist pulled up here from what I check when we do the QuickBooks audit, okay. 12345.
So, the sixth thing, if you are using undeposited funds, which I hope that you are, it’s a feature within QuickBooks, if you don’t know what I’m talking about. If it’s done incorrectly, it can lead to duplicate income. And especially if you have bank import, again, these are all things that we have to do.
Bank import is when like it syncs your transactions from your bank account directly into QuickBooks, and it’s a great feature. But bank import alone is not enough to get you where you need to be within your QuickBooks, okay, there can be a lot of errors in there, and it doesn’t have to be overwhelming.
Okay. So that’s a quick run through of like, the areas that you need to check in the causes of what causes you the sources, sources, yeah, there we go. What causes you to have errors in your QuickBooks. So, there’s two problems, though, you have to know what to do, I gave you that quick rundown list.
You might like you’re taking notes, great. And then you can get through and you feel confident in it. But then you also have to have the time to do it. That can be a harder thing.
And then I also know when it comes to money, like pulling things up. And even if you know what to do, like actually doing, it can be a whole another step. So regardless what you choose to do, I don’t want you to be hard on yourself, but I would love to support you with a Money Makeover QuickBooks audit.
There are regularly 297. Right now, they’re on sale for 147. So, if you want me to look at your QuickBooks for you, you’re gonna get like the step-by-step walkthrough of all these things with an itemized checklist, I’m gonna give you additional support options, so that you don’t feel alone, like on this journey while you’re working on it.
The links gonna be in the show notes, aimeecerka.com/qbaudit, will take you there. The discounts already applied your all set, would love to support you in that manner. Because these things when you fix this, you make more money. Because we feel like the money stuff is mostly as a byproduct, like, okay, yeah, we had to do that because we make money.
But when you take care of this, and you’re able to have a clear head, and not worried about money in the back of your head, when we take care of the emotions around money, you can show up like you need to make the income. So, when you take care of the money, then you go make more money, because you’re not worried about it. Like it’s salt, it doesn’t matter.
And that’s what I would love to support you through the QuickBooks audit. Okay?
Recap of QuickBooks Mistakes Causes
Let’s recap the causes of your QuickBooks, mistakes, okay? The first one was not knowing how to enter your transactions properly. The second one was not entering your income properly, especially if you have bank import, and you’re just hitting accept. That’s not the best way to do it. Okay.
The third one is ignoring the issue. You know, we’re just kind of like working through it, right? Like it’s always been there. It’s, that’s the way it has to be totally not true. And then the fourth thing was just not even knowing how to fix it. And hopefully our quick run through of the what did we say six areas that I checked within the QuickBooks audit was helpful.
And then of course, I’m inviting you to grab that Money Makeover QuickBooks Audit as well 50% off. It’s really a no brainer, but it’s up to you. No matter what you choose. Don’t be hard on yourself, because so many people have mistakes that they don’t even realize it. And that’s it for now. We’ll see you next time.
Thank you so much for listening to the Your Money Your Life podcast. Wondering what’s next? When you’re ready. There are different levels of support that you can use on the path to creating unstoppable finances and your unstoppable life.
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