QuickBooks expenses input etc

[Doug Phillips]

Hi all, while I'm not proud at all that I've waited this long, tomorrow I will be inputting all expenses for 2018 for our LLC. I did the same thing last year and am vowing this is the last year I wait until the last possible moment and input all data on a monthly basis from here on

With that said, are there any tips or anything I should know about that might make inputting expenses and anything else I need to input easier?  Also, will I need to go back and reconcile each month for '18?  Thanks, and this is the last time I'll be doing this, promise!

[Daniel Hyman]

Here are some tips. 

Hopefully once or two of them will be useful:

• Review bank reconciliations to make sure it reconciles, agrees to bank statements, and that the uncleared items are valid
• Run a "Transaction Detail by Account" report to make sure the classifications are correct
• Review the "Transaction List by Vendor" report to check for consistency
• Make sure  the transactions in 'Ask My Accountant', 'Misc Expense', 'Uncategorized Expense', 'Misc Income', 'Uncategorized Income' or any other similar account are classified correctly
• Review the P&L to see if it makes sense
• Review the Balance Sheet to see if it makes sense