Should You Enter Transactions as Journal Entries in QuickBooks?

Ask the Accountant… Question: I had some accounting in college. Can I enter transactions in QuickBooks as Journal Entries instead of learning the software? Answer: QuickBooks is designed to follow their designated flow so that your entries are recorded correctly. By doing this, the debits and credits are recorded automatically in the background of the…

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Why You Need Business-Only Bank and Credit Card Accounts

Ask the Accountant… Question: I have been using my personal checking account and credit card for my business transactions. Are there any problems with doing that? Answer: Yes! You are creating myriad problems by using personal accounts for both personal and business use. The term for this is “commingling of funds.” The first problem is…

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