QuickBooks makes bookkeeping so easy anyone can do it, right? Kind of.
Many years ago, my ex and I wanted to design our own home. We purchased a program called 3D Architect Deluxe and got to work. We spent hours placing windows, pocket doors, electrical outlets, and appliances. Once finished we proudly handed our design to our contractor for pricing. He wasn’t all that impressed, and our pride quickly dissipated.
It turned out that the program made it easy to choose the size and location of the rooms. It even told us when we didn’t have enough space to install a pocket door or bathtub. What it couldn’t tell us was why we couldn’t put an electrical outlet in a specific place or why we didn’t want the roof pitch we picked.
The same problem is found within QuickBooks and every other accounting software. You can put the data in and code it as you see fit. It will tell you that you have already issued a check number. Most of the time you probably get it right. However, do you know when or how to make adjusting entries for customer deposits. Do you when items purchased are expenses or cost of goods sold? Neither does QuickBooks.
The point is QuickBooks is only as good as the data put in it. Accurate bookkeeping is vital to your success. After all, poor financial management is among the top five reasons businesses fail.
You are great at what you do, but are you great at bookkeeping? If you answered no, perhaps you should consult a professional bookkeeper. Most offer monthly or quarterly accuracy checks that are reasonably priced and worth the peace of mind.