
Let me start by saying that Quickbooks Software is a great accounting tool for small businesses to use to handle their accounting transactions. However, it can also be deceivingly easy. Some of the common mistakes that I find people making are miscategorizing the outflow of cash. For example, they record certain things as expenses when they should be categorizing them as assets. For example, pre-paid expenses, inventory, and other such items that should be placed on your books as an asset as an expense over a period of time.
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