You hear it everywhere.

The cost of living is rising and wages aren’t keeping up.

So in today’s economy, saving money never hurts, right?

In our personal budgets, this may mean having to watch that one show with ads for the next 3 months.

But to all the business owners reading this, BEWARE.

This narrative does not apply to your bookkeeping.

Here’s why using one QuickBooks file for multiple businesses is actually more expensive than just paying up for multiple QuickBooks files.

• Combining multiple businesses voids your limited liability.
• With everything jumbled together, having tax returns filed is impossible.
• QuickBooks is like a car! It’s meant to make your life easier, but if you put the wrong type of fuel in, it suddenly becomes a massive liability.

REMEMBER! If your businesses are LLC’s or Corporations, they are separate from you, but also from each other. They NEED their own QuickBooks file, bank accounts, etc. If you need help setting this up or fixing the mistake, get in touch with us on our website! We’d love to hear from you and help however we can.

Taking action NOW is the best thing you can do to regain confidence in the financial standing of your businesses.

This is post #4. New post every Monday. Comment below or visit our website to connect!