When your QuickBooks bank balance doesn’t match what your bank shows, it doesn’t automatically mean your books are wrong. Outstanding checks, deposits in transit, unreviewed bank-feed transactions, and duplicate entries can all create differences. What matters isn’t whether the two numbers match. It’s whether you can explain why they don’t. First, Make Sure You’re Comparing…
Your business may be ready for a fractional CFO when the financial decisions you’re making have become more complicated than the reports you’re using to make them. You don’t need a magic revenue threshold, dozens of employees, or a full-time finance department. You need reliable financial information, meaningful decisions to make, and guidance that helps…
How much revenue does my business need? Start with your financial destination, then work backward. Project Lighthouse · Lesson 014 How much revenue does my business need? It starts with the profit your business must produce. More sales won’t necessarily give you the business—or the life—you want. Here’s how to work backward from your financial…
Answer Desk · QuickBooks & Bookkeeping Systems How Often Should You Reconcile QuickBooks? How often should you reconcile QuickBooks? For most small businesses, reconcile bank accounts and credit cards at least once a month, using the actual statement. High-volume businesses may benefit from more frequent reconciliations or weekly transaction reviews. A connected bank feed does…
PROJECT LIGHTHOUSE | LESSON 013 Your business may be profitable. But is it compensating you fairly for the work you do, the risks you take, and the money you’ve invested? Business owner compensation is about more than how much money you take home. It’s about understanding what your business pays you for your work, what…
Executive Brief Don’t build your 2027 business budget by copying 2026 and changing the numbers. A useful budget starts with what this year actually taught you about revenue, margins, expenses, capacity and cash. In this edition of Project Lighthouse, we follow one $2 million business and turn those lessons into a practical 2027 financial plan….
THE PROBLEM A Q3 financial review should tell you whether the business is actually performing better than last year—and what needs attention before year-end. THE SHIFT Stop judging the year by revenue and bank balance. Review profitability, margins, cash, customers and jobs together. THE PAYOFF Three months remain to correct problems, protect cash and finish…
Quick answer: If you’re deciding between a bookkeeper or QuickBooks alone, remember that QuickBooks is a tool; a bookkeeper makes sure it’s used correctly. A simple business with an owner who knows basic bookkeeping can often manage alone. As payroll, loans, job costing, or inventory get added, the real question becomes whether you have the…
Quick answer: Before hiring a bookkeeper, don’t just ask what they charge. Find out who will actually work on your books, how often accounts are reconciled, what you’ll receive each month, how questions and errors are handled, how your financial information is protected, and whether they understand your type of business. The right questions to…
You open QuickBooks. The Profit & Loss looks reasonable. Sales are where you expected them to be. There’s money in the bank. QuickBooks isn’t flashing any giant red warning lights. So the books must be right. Right? Maybe. QuickBooks is very good at doing math. Give it two numbers to add together, and it will…