Keeping your Accounts Receivable balances clean, low and accurate is important to your bottom line. It is critical to know how much money your customers owe at any given time. With your help, your accountant will identify outstanding balances that are not collectible that should either be written-off as bad debt or cleared due to manual data entry errors. When you have outstanding customer invoices where sales tax was charged, there is a different accounting process to follow for editing or writing off such account balances. This is especially relevant to businesses using the accrual accounting method, as they pay sales tax when a sale occurs and may be entitled to a sales tax credit for paying sales tax for an invoice that is being written off to bad debt as no longer collectible. Our firm specializes in Accounts Receivable clean-up that includes sales tax.
Your Accountant will Perform Contra-Accounting if Necessary
For this service, you will provide your accountant with a list of outstanding customer invoice balances that will not be paid with reasons. Your accountant may also need to perform Contra-Accounting with this service. This type of accounting is performed when a customer is also a vendor that is owed money by your company. Note that contra-accounting work is included with this service. Your accountant will send you a notification requesting the list of customer invoices to be edited or written off to bad debt that will show up on your client dashboard. You can email or upload your list into a folder within your secure document upload portal. Once the accountant receives this information, they will clean-up your Accounts Receivable create an updated Accounts Receivable Aging detail report that you can access and review directly within your QuickBooks Online books.
Your Personal Guide to Seamless Accounting: Advanced QuickBooks ProAdvisor at Your Service
Hey there! I’m Gina, and I’m the proud co-founder of Lend A Hand Accounting. Why did I start this? Well, I believe that everyone should have access to affordable, efficient, and flexible accounting and bookkeeping services. It’s all about making sure these essential services fit snugly into your budget without any fuss.
We’ve ditched the traditional hourly rate system and adopted a flat fee pricing. You might be wondering, “Why does this matter?” Well, this way, you know exactly what you’re paying for upfront and there are no unexpected surprises. You get to pick and choose the accounting services you need, like a customized menu. And the best part? You’re in complete control of when you start or stop using our services. We’re essentially just a call or a text away, no need for endless phone calls or draining trips to the accountant’s office.
I’m not just any accountant though. I’m an Advanced QuickBooks Online ProAdvisor. That means I’m equipped with advanced expertise and resources to help you leverage QuickBooks Online to its full potential. My goal is to make your accounting process smooth and efficient so you can focus on what you do best – running your business.
Ready to get started? Reach out to me directly at 360-637-4799. We can even kick things off immediately if you’re ready. Simply create a free account, and I can instantly take a look at your books and let you know where you stand.
At the end of the day, we’re here to serve you. We really appreciate the trust you place in us and we’re eager to meet all of your accounting and bookkeeping needs. Looking forward to being part of your team!
Take care,
Gina
The Content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.
