09/04/2026
đ¨ BOOKKEEPING MISTAKE THAT CAN MAKE YOU THINK YOUâRE MORE PROFITABLE THAN YOU ARE
Hereâs one I see more often than youâd think:
Credit card payments being recorded as expenses.
Letâs say your business puts $5,000 of legitimate expenses on a credit card.
Those expenses should be recorded when the purchases happen.
Then you pay the $5,000 credit card bill.
đŤ That payment is not another $5,000 expense.
Itâs a payment toward a liability you already recorded.
If both the purchases and the credit card payment are recorded as expenses, your books could show $10,000 of expenses when you actually spent $5,000.
That can completely distort your Profit & Loss.
This is one reason simply connecting your bank and credit cards to QuickBooks doesnât automatically mean your books are correct.
Your software can import the transactions.
Someone still needs to understand what they are. đ
â Professional Books
Making your numbers make sense.