McAfee's Bookkeeping

10/30/2026

The first 90 days of a new business set the pattern for everything that follows — and your bookkeeping habits are no exception.

Whether you're just starting out or your first quarter has already come and gone, today's blog post breaks down why that early window matters so much, and what to prioritize if you're still in it.

New on the blog: Why Your First 90 Days of Bookkeeping Matter More Than You Think. Link below. 👇

https://mcafeesbookkeeping.com/blog/why-your-first-90-days-of-bookkeeping-matter-more-than-you-think

The first 90 days of a new business set your bookkeeping habits for good. Learn what to prioritize early to build a foundation that lasts.

10/28/2026

Quick QuickBooks tip for Maine landlords: only the interest on your mortgage is an expense. Principal reduces your loan balance, and escrow covers taxes and insurance. Here's how to split a payment correctly.

1. Go to Gear → Chart of accounts → New and create a Long-term liabilities account for the loan (for example, “Mortgage – 123 Main St”), if you don't have one.

2. Open the payment in Transactions → Bank transactions and choose to split it across categories.

3. Put the interest on your Mortgage Interest expense account, the principal on the loan account from step 1, and any escrow portion on Property Taxes and Insurance.

4. Use your lender's statement for the exact amounts, and make sure the lines add up to the payment.

5. Save it. For future months, open the saved expense and use Make recurring so the same split repeats, (if the split changes a little you can update the amounts).

Booked this way, your profit isn't understated by principal payments, and your loan balance stays accurate on the balance sheet.

Want help getting this set up correctly? Let's talk.

10/26/2026

If you started your business this year, you're closing in on your first quarter — and the habits you've built so far (or haven't) tend to be the ones that stick.

This coming Friday's blog post will dig into why those first 90 days matter so much for your bookkeeping, and what's worth prioritizing if you're still inside that window.

If your first quarter has already come and gone without much attention to your books, it's genuinely not too late to build the foundation now. Last Friday's blog post talked about the chart of accounts all Maine business owners need. Check it out below if you missed it.

https://mcafeesbookkeeping.com/blog/the-chart-of-accounts-setup-every-new-maine-business-owner-needs

10/23/2026

Starting a new business — a trades company, a short-term rental, or a rental property? One thing is true no matter your niche: the chart of accounts you build in month one is the foundation for every decision after that.

Today's blog post rounds up the five things every new Maine business owner should get right from the very beginning.

New on the blog: The Chart of Accounts Setup Every New Maine Business Owner Needs. Link below. 👇

Starting a new business in Maine? Learn the chart of accounts essentials every new contractor, STR host, or landlord needs to get right from day one.

10/21/2026

Quick QuickBooks tip for Maine STR hosts: the payout that lands in your bank is already net of fees. Here's how to record the full picture so it matches your platform's payout report.

1. Pull the payout report from Airbnb or Vrbo for that deposit.

2. In QuickBooks, click + New → Bank deposit and choose the bank account that received the payout.

3. Add one line per income type from the report — for example, Nightly Rental Income and Cleaning Fee Income — at the gross amounts.

4. Add a line for Platform Fees to your fees expense account, entered as a negative amount.

5. Check that the deposit total equals the exact amount your bank received, then save. Under Bank transactions, match it to the deposit in your feed.

Now your income, cleaning fees, and platform fees each land where they belong, and reconciling takes minutes instead of detective work.

Want help getting this set up correctly? Schedule a consult and let's talk.

https://calendly.com/mcafeesbookkeeping/bookkeeping-consultation

10/19/2026

Quick one for Maine landlords: if a tenant's security deposit is showing up as income in your books, that's worth fixing.

Until it's applied to damages or returned at move-out, it's not yours yet — it belongs in a liability account, not your Rental Income.
Friday's blog post covered this along with the rest of a clean chart of accounts setup for a first rental. Link below if you missed it:

https://mcafeesbookkeeping.com/blog/just-bought-your-first-rental-build-your-chart-of-accounts-before-your-first-tenant-moves-in

Worth a two-minute check if you're not sure how yours is currently categorized.

10/16/2026

Just bought your first rental property? Before you hand over the keys, it's worth spending an hour setting up your books the right way.

A clean chart of accounts from the start means knowing the difference between a repair and an improvement, tracking security deposits correctly, and a stress-free tax season down the road.

New on the blog: Just Bought Your First Rental? Build Your Chart of Accounts Before Your First Tenant Moves In.

Link below. 👇

https://mcafeesbookkeeping.com/blog/just-bought-your-first-rental-build-your-chart-of-accounts-before-your-first-tenant-moves-in

Just bought your first rental property? Learn how to set up your QuickBooks chart of accounts correctly before your first tenant moves in.

10/14/2026

Quick QuickBooks tip for Maine contractors: if you categorize the same supply-house charge over and over, a bank rule does it for you — and keeps “Miscellaneous” from creeping back in.

1. Go to Accounting → Rules, → New Rule. Or the Gear icon → Rules → New Rule.

2. Name it (for example, “Home Depot – Materials”) and set it to apply to Money out.

3. Add a condition: Bank text contains “Home Depot” (or your supplier's name as it shows on your bank feed).

4. Set the category to your Materials & Supplies account, then choose whether QuickBooks should auto-add or just suggest and let you review. Start with review until you trust it.

5. Save. Next time that vendor shows up in your feed, it's already sorted — you just assign the customer/job.

Set up one rule for each vendor you use every week and most of your bank feed sorts itself. Check your rules every few months so they keep matching how you work.

Want help getting this set up correctly? Let's talk.

10/12/2026

Here's something that trips up a lot of new STR hosts: the number that lands in your bank account isn't the full story.

That deposit is already net of cleaning fees, platform commissions, and any guest refunds — so if you're only matching your books to your bank balance, you're missing where the money actually went.

Friday's blog post covered how to set up income accounts that mirror your platform payout reports from day one. This is the habit that makes that setup actually pay off every month. If you missed it check it out at the link below!

https://mcafeesbookkeeping.com/blog/new-to-hosting-heres-how-to-start-your-str-bookkeeping-off-right

10/09/2026

New to short-term rental hosting? Between furnishing the space and setting your pricing, bookkeeping is probably last on your list — but STR money moves in more directions than almost any other small business.

Getting your chart of accounts set up to match your platform payouts from the start makes reconciling a monthly task that takes minutes, not hours.

New on the blog: New to Hosting? Here's How to Start Your STR Bookkeeping Off Right. Link below. 👇

New to short-term rental hosting? Learn how to set up your QuickBooks chart of accounts from day one to track payouts, fees, and expenses correctly.