Year-end is closing in fast, and if your QuickBooks Online file has been running on autopilot all year, this is the month it catches up with you. Getting your books reconciled and tax-ready now saves you money later, since a clean file usually means fewer billable hours for your accountant to sort things out come tax season.
Start with reconciliation, not just reviewA lot of Frisco business owners assume that downloading their bank transactions into QuickBooks counts as being reconciled. It doesn't. As Clean Books Magic puts it, "reconciliation is the only process that verifies every transaction matches your bank statement." Bank feeds can miss or duplicate entries, so every account needs an actual reconciliation pass before you call the year closed.
The three things most owners forget Contractors and 1099s. If you paid any contractor this year, confirm you have a current W-9 on file and that their payments are…