Open Books Accounting & Tax Services

Open Books Accounting & Tax Services We offer short and long term bookkeeping solutions for small businesses and non-profits.

QuickBooks has been rolling out AI updates, and you may notice a few changes. Here are a few things to know:- Transactio...
09/02/2026

QuickBooks has been rolling out AI updates, and you may notice a few changes. Here are a few things to know:

- Transactions don't post automatically. You decide what gets added to your books.

- Match means the transaction already exists in QuickBooks. You're simply matching it to the bank transaction.

- Categorize means the transaction is new, and you're telling QuickBooks where it belongs.

- AI suggestions can save time, but always review them before accepting.

Think of bank feeds like a helpful assistant. They can save you a lot of time, but you're still the one making the final decisions.

Always review transactions before accepting them into your books.

Ready to spend less time on bookkeeping and more time growing your business?

Book a call using the link in our profile, or comment "books" below to learn more about how we can help.


The best investment depends on where your business is now and what will help you reach your next goal.What would you do ...
09/02/2026

The best investment depends on where your business is now and what will help you reach your next goal.

What would you do with an extra $10K?

Don't forget these important tax deadlines due September 15, 2026:- Third quarter estimated tax payment due for self emp...
09/01/2026

Don't forget these important tax deadlines due September 15, 2026:

- Third quarter estimated tax payment due for self employed individuals and business owners who make quarterly estimated tax payments.

- Extended tax return deadline for Partnerships (Form 1065) and S Corporations (Form 1120-S) that filed an extension.

Now is a great time to review your books, make sure your records are up to date, and prepare for the September 15 deadline.

Need help getting your books organized? Book a call using the link in our profile or comment "books" below to learn more about our bookkeeping services.


We’re almost through Q3 and heading into the final months of 2026, so now is the time to focus on your year end goals an...
09/01/2026

We’re almost through Q3 and heading into the final months of 2026, so now is the time to focus on your year end goals and prepare for upcoming deadlines.

This month, take time to:

- Review your August numbers
- Get your books up to date
- Review your year end revenue and profit goals
- Check your cash flow
- Start looking for a bookkeeper and tax accountant now
- Plan for year-end deadlines

What’s one business goal you’re working toward this September?

How do I qualify for a business loan?Lenders typically look at your credit history, time in business, revenue, cash flow...
08/31/2026

How do I qualify for a business loan?

Lenders typically look at your credit history, time in business, revenue, cash flow, and financial records to determine if you qualify.

How much can I borrow for my business?

The amount depends on your business's income, cash flow, existing debt, creditworthiness, and the lender's requirements.

What documents do I need to apply?

Most lenders will ask for:
- Financial statements
- Business tax returns
- Bank statements
- Profit and Loss Statement
- Balance Sheet
- Business plan (for some loans)

Having accurate, up to date financial records can make the application process much smoother and improve your chances of approval.

Thinking about applying for a business loan? Let us help you get your books organized and your financial reports lender ready.

Book a call using the link in our profile or comment "books" below to learn more about our services.


A business loan is not income. It's a liability that you'll repay over time.Here's how to record it correctly:1. Create ...
08/30/2026

A business loan is not income. It's a liability that you'll repay over time.

Here's how to record it correctly:

1. Create a loan liability account.

Set up a Long Term Liability or Other Current Liability account (depending on the loan terms).

2. Record the loan deposit.

When the loan funds are deposited into your bank account, categorize the deposit to the loan liability account, not income.

3. Record your loan payments correctly.

Each payment includes:

- Principal, which reduces the loan balance
- Interest, which is recorded as an interest expense

4. Reconcile your loan account regularly.

Compare your QuickBooks loan balance to your lender's statements to ensure they match.

5. Keep all loan documents.
Save your loan agreement, payment schedule, and monthly statements for your records.

Recording business loans correctly helps keep your Balance Sheet accurate, your financial reports reliable, and your books tax ready.

Need help cleaning up your books or reviewing your QuickBooks?

Book a call using the link in our profile, or comment "books" below to learn more about our bookkeeping services.


We help business owners:- Clean up messy bookkeeping- Correct bookkeeping errors- Reconcile bank and credit card account...
08/29/2026

We help business owners:

- Clean up messy bookkeeping
- Correct bookkeeping errors
- Reconcile bank and credit card accounts
- Prepare accurate financial reports
- Keep your books tax ready year round

The sooner your books are cleaned up, the sooner you'll have confidence in your numbers and make better business decisions.

Ready to get your business back on track?

Book a call using the link in our profile or comment "books" below to learn more about our cleanup and monthly services.

https://openbooksaccounting-tax.as.me/schedule/106af4d5


If you use your cell phone and internet for business, you may be able to deduct the business-use portion of those expens...
08/28/2026

If you use your cell phone and internet for business, you may be able to deduct the business-use portion of those expenses.

Here's what to keep in mind:

- Only the business-use percentage is generally deductible.

- Keep copies of your monthly phone and internet bills.

- Use a reasonable method to calculate your business use.

- Keep records showing how your phone and internet are used for business.

- Review your deduction each year if your business use changes.

Need help staying tax ready all year? Book a call using the link in our profile or comment "tax" below to learn more about our services.


Here are some simple ways to better protect your business:- Reconcile your bank and credit card accounts every month.- R...
08/27/2026

Here are some simple ways to better protect your business:

- Reconcile your bank and credit card accounts every month.
- Review your bank statements and financial reports for unfamiliar transactions or unusual changes.
- Never give one person complete control over your finances. Separate duties whenever possible.
- Review vendor and employee payment details before sending money.
- Watch for duplicate payments or duplicate invoices.
- Change your passwords regularly and enable two factor authentication on financial accounts.

Save this post for later and follow for more practical bookkeeping, business, and money tips.


08/27/2026

Are you fed up with being “everyone” in your business?

The owner. The admin. The scheduler. The bookkeeper. The one answering every message.

It’s exhausting!

You don’t have to hand everything off at once. Start with one small task that drains your time or energy and let someone else take it on.

Your business will still run. You’ll just have more space to breathe.

What’s the first thing you’re ready to delegate?


Address

101 N 7th Street
Louisville, KY
40202

Opening Hours

Monday 10am - 4pm
Tuesday 10am - 4pm
Wednesday 10am - 4pm
Thursday 10am - 4pm
Friday 10am - 2pm

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