Accounts payable is one of the most important task to every small or mid-sized business, it is not only a data entry transaction, I believe that every expense must be tracked, categorized and reported accurately.

Financial statements are vital for making crucial business decisions, the importance of accurate financial statements are essential and cannot be underestimated . Financial statements will give you a clear and accurate visual of how your business is currently performing.

Bank reconciliation ensure payments have been processed and cash collections have been deposited, this is very important because helps you identify any unusual transactions that might be caused by fraud or accounting errors.

The purpose of a trust account is to hold monies for a client whether on a settlement, a real estate matter, fee retainer, or costs. Reconciliations every month is a must and not only for the bank trust statements but also for the client ledger and check register to ensure that all the balances match exactly.

Cash flow is one of the most critical components of success for a small  business. That’s why is important to keep monitoring, analyzing, and optimizing the net amount of cash receipts minus cash expenses at least quarterly.

QuickBooks helps you keep track of the money coming in and out of your business, all in one easy-to-use place. So you always know where you stand, and you’re always ready for tax time, you can connect your bank accounts and credit cards and get paid online with bank transfers or credit cards.