XactBalance Financial

Your bank feed says you paid Bob $7,500. No memo. No invoice. Just BOB. 👀

Was Bob a contractor? Did he sell you equipment? Was it a loan repayment? Each answer could change how that payment belongs in your books. So yes, I’m going to ask questions. I need Bob’s backstory. 😂

Business owners: What’s the strangest transaction your bookkeeper has asked you about? Bookkeepers: What’s the funniest explanation you’ve received? Tell me in the comments!

— Beth Baty, XactBalance Financial

Sometimes the number that catches my attention most is zero. 👀

If a business usually spends $8,000–$10,000 a month on labor and suddenly shows $0, I’m going to ask why. The same goes for a rent payment that appears every month—until one month it doesn’t.

Good bookkeeping means noticing what’s missing, too. That’s often where you find a transaction posted to the wrong place or an expense that never made it into the books.

I’m Beth Baty with XactBalance Financial. Follow for practical bookkeeping tips that help you understand what your numbers are telling you.

What’s one expense you’d notice immediately if it disappeared from your reports?

Business owners… WHY do some of you have SO MANY bank accounts?! 😂

Checking. Savings. Tax savings. Payroll checking. Emergency savings. Old checking. New checking. And apparently one nobody has seen since 2022.

At this point, I’m not doing bookkeeping—I’m collecting Pokémon. 😂

Multiple accounts can absolutely have a purpose, but if nobody knows why account #14 exists… it might be time to simplify.

Gotta reconcile ’em all!

Follow XactBalance Financial for practical bookkeeping tips, business advice, and a few laughs along the way!

You don’t have to tell your bookkeeper you went on vacation—your debit card already did. 😂

Delta. Marriott. Uber. Florida restaurants. Beach parking. And, of course, the Tiki Hut.

Your transactions tell a story, but I still need receipts and an explanation when the business pays for the little drink with the umbrella! 🍹

Follow me for relatable bookkeeping tips, financial reminders, and a few laughs along the way!

📊 A strong Profit & Loss statement is only part of the picture.

Your Balance Sheet can reveal important details that a P&L doesn’t show—unreconciled accounts, outstanding balances, credit card activity, loans, and amounts sitting in Undeposited Funds.

Reviewing both statements regularly helps you understand what’s actually happening in your business finances.

When was the last time you reviewed your Balance Sheet?

🔎 Every business has one.

That transaction from 9 months ago that nobody remembers.

No receipt.
No memo.
No clue.

But somehow the owner is 100% certain it was business. 😂

Meanwhile, I’m over here trying to decide whether $847 was equipment, supplies, a contractor… or apparently the beginning of a competitive bass fishing career.

Bookkeeping gets a whole lot easier when you leave yourself a breadcrumb trail. A receipt, memo, photo—ANYTHING helps.

Business owners: What’s the weirdest purchase on your business card that you’d have a hard time explaining months later?

Bookkeepers: What’s the funniest mystery transaction you’ve ever had to investigate? 👇

I need to know I’m not the only one playing financial detective.

A duplicate transaction can make your books look like your business spent more than it actually did.

When a transaction is already recorded in QuickBooks and then gets added again from the bank feed instead of being matched, the same expense can appear twice.

Bank-feed automation can save time, but transactions still need to be reviewed carefully.

Have you ever spotted a duplicate transaction in your books?

Falling behind on your bookkeeping? Start by getting your records organized.

Whether your books are a few months behind or need a full cleanup, accurate bookkeeping can help you keep transactions organized, reconcile accounts, and understand your financial reports.

The goal isn’t just to catch up—it’s to have a clearer picture of where your business stands.

How far behind are your books right now?

💰 A loan payment is not always the same as a business expense.

When a business makes a loan payment, part may go toward principal and part toward interest. These amounts can be treated differently in your bookkeeping.

Recording the full payment as an expense can make your financial reports less accurate and make it harder to understand your business performance.

Good bookkeeping means understanding what each transaction actually represents, not just choosing a category from the bank feed.

What bookkeeping transaction do you find the most confusing?