067 - The #1 QuickBooks Setting Most Business Owners Overlook

Today we're diving into one tiny QuickBooks setting that can make a BIG difference for whether your books make sense, and most people don't even know it's there! Did you know there are two accounting methods: Cash basis and Accrual basis? Cash basis: Income and expenses show up when money moves (you get paid or you pay). Accrual basis: Income and expenses are recorded when they're invoiced, not necessarily paid. Choosing the right method and using it consistently will ensure that your books for calendar months and years are accurate, which is of course always our goal! Also though, using the right method will enable you to compare your months from one year to the next and watch for seasonal patterns.   Reach me here https://erikamillard.com/contact so that I can talk this out with you and help you choose the right method for your business.    I'm so excited to share my new freebie that will help you keep making smart decisions in your business : https://erikamillard.com/qbhealthcheck    Here are the ways we can connect: SIGN UP FOR EMAILS: https://erikamillard.myflodesk.com/podcast   Learn: www.erikamillard.com Email: [email protected] Instagram: @erika_millard   New Tool: Take Home Target erikamillard.com/takehometarget     Mini Course- Get Comfy with Budgeting https://erikamillard.com/budget   Get Comfy with QuickBooks https://erikamillard.com/get-comfy-with-quickbooks   Don't forget to download the free Monthly Bookkeeping Checklist: https://erikamillard.com/bookkeeping-checklist      Happy Bookkeeping!