Love Counts Bookkeeping

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Love Counts Bookkeeping Bookkeeping service in Salado specializing in cleanup & catch-up, financial reporting, and more for businesses and individuals 📚

Love Counts Bookkeeping helps individuals and small to mid-size businesses take control of their finances with ease and confidence. We handle the details—from day-to-day bookkeeping and payroll management to clear, accurate financial reporting—so you can focus on growth. With over 15 years of experience, we bring reliable, organized, and stress-free solutions to keep your books balanced and your mind at ease. Partner with Love Counts Bookkeeping and experience bookkeeping that truly makes every dollar count.

Gift Cards Are Not Revenue YetAccuracy check: QuickBooks’ current guidance treats gift-certificate payments as a liabili...
10/15/2026

Gift Cards Are Not Revenue Yet

Accuracy check: QuickBooks’ current guidance treats gift-certificate payments as a liability until the business fulfills the future obligation.

Gift cards feel like instant sales.

Your books need one more step.

When a customer purchases a $100 gift card, the business receives the cash—but still owes $100 in future products or services.

The clean bookkeeping flow is generally:

- Gift card sold: increase cash and the gift-card liability
- Gift card redeemed: reduce the liability and recognize revenue for the amount used
- Gift card refunded: reduce the liability and cash appropriately

A common mistake is posting the original gift-card sale directly to income. If the POS also records revenue when the card is redeemed, the same $100 may be counted twice.

Before holiday sales pick up, reconcile gift cards sold, redeemed, refunded and still outstanding to both the POS report and the Balance Sheet liability.

Unused balances can follow different accounting and unclaimed-property rules, so review those with your CPA.

Are your gift cards mapped correctly?

Ready for the answer? It’s false!Taxes are a big deal a few times a year for any business, but bookkeeping is a year-rou...
10/12/2026

Ready for the answer? It’s false!

Taxes are a big deal a few times a year for any business, but bookkeeping is a year-round job. Waiting until your tax deadline to deal with your books is an easy way to miss deductions, make errors, and cause unnecessary stress. With Love Counts Bookkeeping’s bookkeeping services in Salado helping you all year long, you’ll maintain clean, accurate, and organized books so you’re always ready for when taxes hit. Contact us to learn more!

A Refund Is Not New IncomeGetting money back feels like income.In the books, it usually isn’t.If your business paid $300...
10/08/2026

A Refund Is Not New Income

Getting money back feels like income.

In the books, it usually isn’t.

If your business paid $300 for software or supplies and the vendor later returned $300, the refund should generally reduce the same expense or asset account used for the original purchase.

The clean result:
- Original purchase: $300 expense
- Vendor refund: $300 reduction to that expense
- Net cost: $0

The refund may appear in the bank feed as a deposit—or on a credit card as a statement credit—but the transaction type does not determine its bookkeeping category.

Avoid posting the refund to sales or miscellaneous income. That leaves the original expense overstated and creates income the business did not earn.
For a partial refund, reduce the original category by the amount returned and record any restocking or processing fee separately.

If the original purchase occurred in a closed prior year, check with your CPA before changing it.

What refund is still sitting in your bank feed waiting to be categorized?

Quiet Time Shouldn’t Become Collection TimeLinkedIn, Facebook & InstagramQuiet time should not become collection time.Wh...
10/06/2026

Quiet Time Shouldn’t Become Collection Time

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Quiet time should not become collection time.

When you run a business and raise a child, the quietest part of the day often becomes the catch-up window—emails, client work, paperwork and reheated coffee.

That time should not be spent figuring out which invoices are late.

A 10-minute receivables check once a week can reduce the scramble:

* Review invoices due within the next seven days.
* Follow up on anything already overdue.
* Record each customer’s promised payment date.
* Note customers who are repeatedly late.

If the same customer keeps paying late, consider requiring a deposit, offering autopay or shortening their payment terms before accepting more work.

Your Accounts Receivable Aging report should help you act before cash gets tight—not simply confirm who still owes you.

What business task always seems to find its way into your quiet time?

What do you actually get from monthly bookkeeping services? With Love Counts Bookkeeping, here’s what a typical month wi...
10/05/2026

What do you actually get from monthly bookkeeping services? With Love Counts Bookkeeping, here’s what a typical month will look like:

✅Categorize transactions
✅Bank and credit card reconciliations
✅Financial reporting
✅A/R and A/P tracking

If you’re ready for books that are always current, accurate, and ready when you need them, trust our bookkeeping services in Salado!

That vendor bill can look unpaid even though the money already left your bank account.When a bill is entered into the bo...
10/01/2026

That vendor bill can look unpaid even though the money already left your bank account.

When a bill is entered into the books, the expense or asset is recorded and Accounts Payable increases.

When the bill is paid:
- The bank balance decreases.
- Accounts Payable decreases.
- No second expense should be created.

The mistake happens when the bank-feed withdrawal is categorized as another expense instead of matched to the existing bill payment.

Now the expense has been recorded twice, the original bill still appears unpaid, and the Accounts Payable aging report is incorrect.

The clean process:
- Enter the vendor bill once.
- Record the payment against that bill.
- Match the bank-feed withdrawal to the bill payment.
- Review the A/P aging report for vendors showing unpaid balances that may have already been paid.

If a vendor appears overdue but the bank shows a payment, investigate the connection before recording anything new.
Is your bank feed clearing paid bills—or creating a second expense?

09/29/2026

Paying your business credit card does not create a new expense.

The expenses were already recorded when the purchases were made on the card. Those purchases increase the credit-card liability on the Balance Sheet.

When the checking account pays the credit card, the payment should be recorded against that liability:

- The checking-account balance decreases.
- The credit-card liability decreases.
- No additional expense is recorded.

The mistake happens when the individual credit-card purchases are categorized as expenses and the payment from checking is also categorized as an expense. That records the same spending twice, overstates expenses and understates profit.

At month-end, record the payment as a transfer to the credit-card account, reconcile the card to its statement and record any interest or late fees separately.

The purchase creates the expense. The payment pays down the liability.

Are your credit-card payments reducing the liability—or duplicating your expenses?

What’s your best guess? Leave your answer in the comments!The answer is…CASH FLOW 💸 Cash flow is the money that moves in...
09/28/2026

What’s your best guess? Leave your answer in the comments!

The answer is…CASH FLOW 💸 Cash flow is the money that moves in and out of your business. Tracking this closely is one of the most important things you can do to keep your business’s finances healthy, and Love Counts Bookkeeping is here to help. With our bookkeeping services in Salado, you can keep a close eye on your cash flow to ensure your business thrives ⭐

09/24/2026

Tips Aren’t Restaurant Sales

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That $1,250 credit-card deposit may not be $1,250 of restaurant sales.

For example, one settlement could include:

* $1,000 in sales
* $82.50 in sales tax
* $200 in employee tips
* Minus $32.50 in processing fees
* $1,250 deposited into the bank

If the full deposit is posted to sales, revenue is overstated while the sales-tax liability, tips owed to employees, and merchant fees disappear from the books.

Clean bookkeeping separates every part of the settlement. Voluntary customer tips owed to employees generally belong in a tips-payable liability—not sales. When those tips are paid out, the liability should be reduced using the way the money actually left the business, such as cash or payroll.

Mandatory service charges may follow different accounting and payroll rules, so they should not automatically be treated like voluntary tips.

The bank deposit is only the ending number. The POS and processor reports explain what is inside it.

Does your bookkeeping separate employee tips from restaurant sales?

09/22/2026

The junk drawer usually gets attention when it stops closing.

Until then, old chargers, mystery keys, half-used batteries, and pens that may or may not work keep collecting.

Business subscriptions can pile up the same way. It is easy to overlook $12 here and $39 there—especially when each charge renews automatically on a different card.

Once a quarter, review the last 90 days of bank and credit-card activity. For every recurring charge, note:

What it is

Who uses it

How often it renews

Whether another tool does the same job

Whether it should stay in the budget

Cancel unused services through the vendor, then check the next statement to make sure the charge actually stopped.

One forgotten subscription may not change much. Ten of them can quietly take a noticeable bite out of cash every month.

What subscription have you paid for longer than you would like to admit?

Address

820 N Main Street, #24
Salado, TX
76571

Opening Hours

Monday 7am - 4pm
Tuesday 7am - 4pm
Wednesday 7am - 4pm
Thursday 7am - 4pm
Friday 7am - 12pm

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