Ask and Answer Questions - American Institute of Professional Bookkeepers Forum

How are professionals improving bookkeeping efficiency for small businesses?

chickpeafilae — Wed, 22 Apr 2026 13:04:49 +0000

I’ve been exploring different approaches to improving bookkeeping efficiency, especially for small businesses and freelancers who don’t always have dedicated accounting teams. While tools and automation help, it seems that consistency in processes and structured workflows make a bigger difference over time.

I’m curious how professionals here handle this in real-world scenarios. Do you rely more on standardized systems, certifications, or practical experience to maintain accuracy and efficiency as workload increases? It would be interesting to hear what methods work best in long-term bookkeeping management.

After the Fact transactions?

hbquikcomjamesl — Wed, 17 Sep 2025 00:38:35 +0000

Understand that I'm neither an accountant nor a bookkeeper, and I've had only one class on the subject, nearly four decades ago. But I've been told that at least some accounting software allows after-the-fact transactions, that might have happened a week or more before they were entered, to be entered with the date on which they occurred, rather than the date of entry. How can this work without either driving the software insane, or breaking GAAP, or both?

e_Commerce to Quickbooks OnLine Integration

Gonzalo — Tue, 03 Jun 2025 17:25:05 +0000

How do you integrate e-Commerce to QBO?

business expenses paid with personal funds

Ellen — Fri, 01 Nov 2024 20:13:58 +0000

Hello, How should I book transactions by my client who has paid for business expenses with personal funds

Volunteers at non profits

Wendy Chase — Thu, 29 Aug 2024 19:53:47 +0000

I have a new payroll client that is a non-profit youth soccer club. They are wondering if a parent wants to volunteer as a coach, in exchange for a reduction in their child's fees, is that allowed? All the reading I've done seems to indicate that would be considered compensation and change them from a volunteer to an employee. Thoughts?

Opening of a Branch in Massachusetts and the Head Office is in Florida

cassiano Oliveira — Wed, 07 Aug 2024 14:37:39 +0000

Is there someone that can help with that challenge for me

Commissions

Megan — Fri, 26 Apr 2024 07:18:14 +0000

I have a client who makes a product and sells said product to local stores at wholesale. When recording income, there is gross sales minus commissions to get what was collected. I am wondering what type of account those commissions should be recorded as. Contra income account, COGS, expense account?

"Credit" from Lender for Final Loan Payment - How to book?

Shelly — Thu, 11 Apr 2024 16:13:10 +0000

I have a client that just paid off an equipment loan. They did not actually "pay" the last payment, the Lender gave them a credit for the final amount. How do I enter that in the books to zero out the liability?

Recommendations for Accounting and Payroll Software (bundle) Alternative to QuickBooks?

Sally — Wed, 03 Jan 2024 19:36:05 +0000

Hello,

We are a small business with three company files. We use both the Bookkeeping and Payroll functions in QuickBooks. We have been continually experiencing technical issues with QB and it is a nightmare trying to work with their customer support team. We'll spend countless hours on the phone, in chat or screensharing with their agents, only to either not get the problem fixed or another issue comes up. We are currently using Desktop and want to upgrade to Online but are hesitant because we've been told our 1,000's of attached files won't transfer with our company files and that the payroll conversion is very complicated. We realize Online is probably a better product, but we would still be dealing with their terrible customer service. Really frustrated and thinking there has to be a better solution and open to converting to another accounting software company. Curious what others have experienced and appreciate any recommendations.

Year End Tax Return Reconciliation procedure

Nickey — Tue, 21 Nov 2023 14:47:07 +0000

How does everyone handle year end reconciliations to balance to the tax returns? Typically, tax preparers provide us adjusting entries when the tax returns are completed (anytime from February - October). Our procedure has always been to make the adjusting entries in December of the same tax year as tax return is for, rerun December financial statements, and then carry forward the correct beginning balances. Of course, that is becoming increasingly difficult to provide timely financial statements for the current year because of how many clients are late tax return filers. How do you handle recording the adjusting entries to balance to tax returns without having to rerun months of general ledgers & financials due to change in beginning balances and possible depreciation expense changes? Thanks for your recommendations!