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.

Depreciation is an important part of keeping your books accurate, but it can easily be missed.Some tax preparers will re...
10/08/2026

Depreciation is an important part of keeping your books accurate, but it can easily be missed.

Some tax preparers will record depreciation directly in QuickBooks if they have access to your file. Others will calculate depreciation for the tax return but will not make the entry in your books.

That means your tax return may include depreciation while your QuickBooks file does not.

Once your business tax return is finalized, make sure to send a copy to your bookkeeper. Your bookkeeper can review the return, update depreciation, and make sure your fixed asset balances match the information used for your taxes.

Keeping your books and tax return in sync gives you more accurate financial reports throughout the year.

Don't waste time looking for $10 savings.Instead, review your biggest business expenses every quarter. Ask yourself if e...
10/06/2026

Don't waste time looking for $10 savings.

Instead, review your biggest business expenses every quarter. Ask yourself if each one is still helping your business grow and whether you're getting your money's worth.

Even a small reduction in a large expense can improve your bottom line.

The biggest savings usually come from your biggest expenses.

How much does your business need to earn each month just to cover its bills? That's your break-even number. If you don't...
10/01/2026

How much does your business need to earn each month just to cover its bills? That's your break-even number. If you don't know it, you're making decisions without knowing your baseline.

Your break-even number should include:
• Payroll
• Rent
• Loan payments
• Insurance
• Utilities
• Software subscriptions
• Other fixed expenses

Knowing this number helps you set sales goals, manage cash flow, and plan for slower months. You can’t plan without a clear goal in mind.

Receipts are much easier to keep track of when you save them right away and help to make your bookkeeping audit proof.Ma...
09/29/2026

Receipts are much easier to keep track of when you save them right away and help to make your bookkeeping audit proof.
Make it a habit to snap a photo or upload the receipt as soon as you make a business purchase. Waiting until the end of the month — or worse, tax time — can lead to missing receipts and unanswered questions.
A simple receipt routine can save time, keep your records organized, and make bookkeeping much easier.

Your business’s operation shouldn’t be dependent on a single individual. If only one person knows how something is done,...
09/24/2026

Your business’s operation shouldn’t be dependent on a single individual. If only one person knows how something is done, your business is at risk.

Create written procedures for tasks like:
• Sending invoices
• Collecting payments
• Depositing checks
• Ordering supplies
• Paying bills
• Responding to customers

Documenting your processes saves time, makes training easier, and keeps your business running when you're away.

Good systems create stronger businesses.

It happens—you accidentally use the business card for a personal purchase.The important part is how you record it.That t...
09/22/2026

It happens—you accidentally use the business card for a personal purchase.
The important part is how you record it.

That transaction still needs to stay in your bookkeeping because the money really left the business account. Instead of deleting it or calling it a business expense, it should usually be recorded as an owner draw or distribution.

This keeps your bank account reconciled without overstating your business expenses.
A small bookkeeping habit like this can make a big difference at tax time.

Hiring a new employee is more than just paying a salary.Before hiring, make sure you've considered: ✅ Payroll taxes ✅ Wo...
09/17/2026

Hiring a new employee is more than just paying a salary.

Before hiring, make sure you've considered:
✅ Payroll taxes
✅ Workers' compensation
✅ Benefits
✅ Equipment and training
✅ Uniforms or tools
✅ Ongoing payroll costs

A new employee can help your business grow—but only if your cash flow can support the full cost.

Run the numbers before you make the hire.

Opened a new bank account, credit card, loan, or payment app for your business? Give your bookkeeper a heads-up. If they...
09/15/2026

Opened a new bank account, credit card, loan, or payment app for your business? Give your bookkeeper a heads-up. If they don’t know it exists, those transactions may be missing from your books making reports inaccurate.
A quick update helps keep your records complete, your balances accurate, and your financial reports telling the whole story. Your bookkeeper will thank you for your proactive communication.

They can all help with taxes, but their credentials and areas of expertise are different.A tax preparer is a broad term ...
09/10/2026

They can all help with taxes, but their credentials and areas of expertise are different.

A tax preparer is a broad term for someone who prepares tax returns. Paid federal tax preparers are required to have an IRS-issued PTIN, but their education, training, and credentials can vary.

An Enrolled Agent (EA) is licensed by the IRS and specializes in federal taxation. EAs must meet IRS requirements and have unlimited rights to represent taxpayers before the IRS.

A Certified Public Accountant (CPA) is licensed by a state board of accountancy and has extensive education and testing in accounting and related financial topics. Some CPAs specialize heavily in tax, while others focus on areas such as accounting, financial reporting, consulting, or auditing.

The similarity? All three may prepare tax returns. The difference is in their credentials, training, areas of expertise, and ability to represent you before the IRS.
The best choice isn’t always about the letters after someone’s name—it’s about finding a professional whose experience matches what your business needs. Do you know what type of professional you are using or need?

Too many businesses lose money because employees can make purchases without clear guidelines.Create an approval process ...
09/08/2026

Too many businesses lose money because employees can make purchases without clear guidelines.

Create an approval process that answers questions like:
Who can make purchases?
How much can they spend without approval?
Who approves larger expenses?
What documentation is required?

A simple process helps control spending, prevents unauthorized purchases, and keeps everyone accountable.

The best part? It also makes bookkeeping easier. When purchases are approved and properly documented, categorizing expenses is faster, receipts are easier to track, and there are fewer questions at month-end.

Address

McKinney, TX
75071

Telephone

+18177983883

Website

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