05/19/2026
Chart of Accounts - are you using them correctly?
They are critical when it comes time to file your taxes, determine how your financial statements present and if setup incorrectly can cost you money!
Here are some common transactions to pay extra attention to: when making a loan payment are you breaking out the interest and principal? Are you capitalizing equipment/assets over your threshold? Are you depreciating those assets correctly? Are you tracking payroll liability accounts and remitting timely?
Reach out if you’d like help with your accounting and want someone who you can rely on for guidance!