Finance

Why Bad Bookkeeping Is Costing Home Service Businesses Thousands

This article examines the hidden risks of poor bookkeeping practices in home service businesses, particularly when software integrations (such as between QuickBooks and field service management tools) create duplicate entries, phantom income, and inaccurate accounts receivable. The financial and operational dangers include paying taxes on profits never received, making misguided business decisions, damaging customer relationships with incorrect billing, and increased audit risk. The article outlines best practices for preventing these issues, including regular reconciliations, matching payments to invoices, reviewing reports, integrating systems carefully, and considering professional bookkeeping help as the business grows.

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