Educated Bookkeeping

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Educated Bookkeeping

Welcome to Educated Bookkeeping! We are professional virtual bookkeepers based out of McKinney, TX.
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We specialize in supporting small service based businesses so they can focus on their passion and optimize their business's financial foundation.

09/03/2026

Once a tax return has been filed, your bookkeeping records for that year should match the numbers reported on the return.

Making changes to prior-year transactions after filing can create differences between your accounting records and your tax return—and may cause problems later when reviewing financial reports, preparing future returns, or responding to tax notices.
If you discover an error in a prior year, don’t delete, recategorize, or adjust the transaction without first talking to your bookkeeper or tax professional.

There is usually a proper way to make the correction while keeping your records accurate. A quick conversation can prevent a much bigger cleanup later.

09/01/2026

If employees use their personal vehicles for business, don’t handle mileage reimbursements casually. Put a clear process in place for employees to submit their mileage to protect both them and you.

Require employees to provide:
• The date of the trip
• The business purpose
• The address of the starting point and destination
• The number of business miles driven
• Any supporting documentation your company requires
• The request by a set deadline each week or month

Consider using a mileage tracking app like MileIQ, reimbursement form, or payroll system so requests are submitted the same way every time.
A consistent process helps keep reimbursements accurate, gives your business better records, and makes bookkeeping much easier.
Don’t rely on employees to remember their mileage months later. Track it as it happens.

08/27/2026

Being available to your clients is important—but being available all the time can quickly become overwhelming.

Set clear communication boundaries from the beginning so clients know what to expect.

You can do this by:
• Establishing your normal business hours
• Choosing which communication methods you use—email, phone, client portal, etc.
• Letting clients know your typical response time
• Avoiding business conversations through personal texts or social media messages
• Setting expectations for after-hours, weekend, or urgent requests
• Using automated replies when you are unavailable
• Including communication expectations in your onboarding documents or service agreement

Clear boundaries don’t mean poor customer service. They create a more professional relationship and help make sure your time is spent serving clients—not constantly reacting to messages.

Your clients can’t follow boundaries they don’t know exist. Set the expectations early and stick to them.

08/25/2026

Bringing on a new vendor or contractor? Have a standard vendor packet ready before they start work.

Your packet can include:
• A request for a completed W-9
• A current Certificate of Insurance, when applicable
• Your company’s billing instructions
• Where invoices should be sent
• Required information to include on invoices
• Your company’s payment terms and payment schedule
• Any other forms or documentation you require

Collecting this information upfront helps avoid chasing paperwork later, keeps your records organized, and makes year-end 1099 preparation much easier.

A simple vendor onboarding process can save your business a lot of time—and prevent payment and paperwork issues down the road.

08/20/2026

Some business owners pay employees by simply writing them a check for their gross wages instead of processing payroll. While it may seem easier, this can create serious problems.

When employees are not paid through payroll:

Payroll taxes may not be withheld or paid correctly.
Required payroll tax forms may not be filed.
Wages may not be reported correctly on the employee's W-2.
Your business could face penalties, interest, and additional tax liabilities.

If someone is your employee, they should be paid through a payroll system—not by writing a regular check.

Not sure if you're handling payroll correctly? We're here to help. Reach out today to make sure your payroll process is set up the right way.

08/18/2026

Marketing should be treated as an investment—not simply a monthly expense.
Business owners should regularly compare the cost of each advertising method with the results it produces. This may include social media ads, direct mail, sponsorships, networking groups, paid search, referral programs, or other marketing efforts.
To determine which option performs best, track more than clicks, views, or inquiries. Ask every new customer how they found your business and measure:
• The amount spent on each advertising source
• The number of qualified leads it produced
• How many leads became paying customers
• The revenue and profit generated from those customers
• The cost to acquire each new customer
The advertising source that brings in the most leads is not always the most profitable. One campaign may produce fewer customers but attract larger, repeat, or more profitable clients.
Avoid judging a new marketing effort too quickly. As a general guideline, give it enough time to move through your normal sales cycle and produce reliable data. For many businesses, this may mean reviewing initial results after 60 to 90 days. Businesses with longer sales cycles may need more time.
Set a budget, define what success should look like, and choose a review date before launching the campaign. Good bookkeeping and consistent tracking can help you identify which marketing efforts deserve more investment—and which ones may be wasting your money.

08/13/2026

Every time a customer pays by credit card, your business pays a processing fee. Those fees may seem small, but they can add up to a significant expense over the course of a year.
Merchant processing fees should be recorded separately and clearly visible on your Profit and Loss report. This allows you to see exactly how much your business is spending to accept payments. If you cannot easily find this expense, have a conversation with your bookkeeper about how the fees are being recorded.
Once you know the total cost, review the rates you are currently paying. Compare processors, ask about lower-rate plans, and consider whether different payment options could reduce your expenses.
You should never choose a payment processor based only on the advertised rate. Review transaction fees, monthly charges, equipment costs, contracts, and any additional fees before making a change.
Knowing what you are paying is the first step toward deciding whether merchant fees are an area where your business can cut costs.

08/11/2026

If you filed an extension for your partnership or S corporation tax return in March, your extended filing deadline is September 15, 2026.

If your 2025 bookkeeping is still not complete, now is the time to get caught up. Your tax preparer will need your completed financial reports and supporting documents well before the deadline to prepare and file your return.

If you need help getting your 2025 books caught up, give us a call. We currently have availability for two bookkeeping clean-up projects before the September 15 deadline.

08/06/2026

A strong sales month does not always mean your business has extra money to spend.
Seasonal businesses must use their busiest months to prepare for the slower ones. Start by reviewing your average monthly operating expenses and estimating how much cash you will need to cover payroll, rent, loan payments, taxes, and other bills during your off-season.
Set aside part of your busy-season income in a separate business savings account. Treat that savings like money reserved for a future expense—not available cash. A cash flow forecast can also help you see when income may decline and when you will need to use those reserves.
Planning ahead allows your business to stay cash positive, pay its bills on time, and avoid relying on credit during slower months.
Busy-season income should support the business all year—not just while sales are high.
Does your business have the financial reports needed to plan ahead? If not, reach out and we’d love to help.

08/04/2026

Materials and subcontractor costs matter, but labor is often one of the largest expenses tied to a job. Without tracking the hours and labor costs for each project, a job may look more profitable than it really is. Accurate job costing helps you set better prices, spot jobs that are going over budget, and understand which types of work are truly making your business money.
Many softwares used for CRM offer the option of employee time tracking by project. This can help streamline the information gathering process and allow for the accounting entry for payroll to be accounted for per project. Check and see if the CRM you are using offers this feature. If you need help, we’re just a call away.

Address

McKinney, TX
75071

Telephone

+18177983883

Website

https://educatedbookkeeping.com/contact/

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