WinnCove Consulting

WinnCove Consulting Partnering with Growth-Minded Entrepreneurs | Strategic Tax Planning & Advisory | RamseyTrusted Professional | Helping You Keep More of What You Earn

The best investment depends on where your business is now and what will help you reach your next goal.What would you do ...
09/04/2026

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?

What needs the most attention in your business before Q4?Something else? Add it in the comments!
09/03/2026

What needs the most attention in your business before Q4?

Something else? Add it in the comments!

Feeling a little out of your routine?Here are some simple tips to help you get back into a routine and refocus on your g...
09/02/2026

Feeling a little out of your routine?

Here are some simple tips to help you get back into a routine and refocus on your goals.

What’s one thing you want to accomplish this week?

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 ...
09/01/2026

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’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?

If you use your cell phone and internet for business, you may be able to deduct the business-use portion of those expens...
08/31/2026

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.

Don't focus on looking successful. Instead, focus on building a financially healthy business.Here's how:- Track your exp...
08/30/2026

Don't focus on looking successful. Instead, focus on building a financially healthy business.

Here's how:

- Track your expenses from day one
- Price for profit, not just to win clients
- Track your cash flow every month
- Separate your personal and business finances
- Don't wait until tax season to organize your books

What's one piece of advice you'd give someone starting a business today?

We'll go first.....there were more hours in the day. Your turn! Finish the sentence in the comments below.
08/29/2026

We'll go first...
..there were more hours in the day.

Your turn! Finish the sentence in the comments below.

Two businesses can earn the same revenue and have completely different financial outcomes.That's because revenue alone d...
08/28/2026

Two businesses can earn the same revenue and have completely different financial outcomes.

That's because revenue alone doesn't determine the financial health of a business. Cash flow does.

Cash-rich business:
- Knows its numbers
- Plans ahead
- Monitors cash flow
- Makes data driven decisions

Cash-poor business:
- Delays important decisions
- Doesn't review financial reports
- Falls behind on bookkeeping
- Doesn't know where the money is going

Want to improve your cash flow and make smarter financial decisions?

Book a call using the link in our profile or comment "books" 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.

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Tuesday 3pm - 6pm
Wednesday 3pm - 6pm
Thursday 3pm - 6pm
Friday 3pm - 7pm

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