Why “Clean Enough” Bookkeeping Turns Into IRS Trouble (Bookkeeping Mistakes That Trigger Audits)
Why “Clean Enough” Bookkeeping Turns Into IRS Trouble Most business owners think their books are “good enough.”The numbers look right.The bank account roughly matches.The reports export.Nothing seems obviously wrong. But “clean enough” bookkeeping is one of the most dangerous financial traps a business can fall into—and one of the leading bookkeeping mistakes that trigger audits. […]
The Audit-Ready Chart of Accounts: How to Structure Your Books for Accuracy and Compliance
The Audit-Ready Chart of Accounts: How to Structure Your Books for Accuracy and Compliance Your Chart of Accounts is the backbone of your bookkeeping system. If it’s messy, outdated, overly generic, or missing essential categories, your financials will always be wrong—no matter how much you reconcile. Most businesses don’t realize that errors in their Chart […]
Top 10 Missed Deductions for Service-Based Businesses (Service-Based Business Tax Deductions You Shouldn’t Miss)
Top 10 Missed Deductions for Service-Based Businesses (Service-Based Business Tax Deductions You Shouldn’t Miss) Service companies—from contractors and HVAC techs to consultants and home-service pros—miss thousands of dollars in service-based business tax deductions every year. Not because they don’t qualify for them, but because their bookkeeping isn’t structured to capture them. If your books are […]
How to Know If Your Books Are Lying to You (Bookkeeping Mistakes to Watch For)
How to Know If Your Books Are Lying to You (Bookkeeping Mistakes to Watch For) Most business owners assume their books are “fine”—until something breaks. A tax bill looks too high, cash flow feels tight for no reason, revenue doesn’t match deposits, payroll suddenly seems off… or worse, the IRS sends a letter. These are […]
Top Bookkeeping Mistakes Small Businesses Make—And How We Fix Them | Giesler-Tran Bookkeeping
Top Bookkeeping Mistakes Small Businesses Make—And How We Fix Them Giesler-Tran Bookkeeping (GTB) has seen it all—common pitfalls that can trip up even the savviest small business owners. Here’s a look at the most frequent bookkeeping mistakes and how our expertise helps you avoid and correct them. Common Bookkeeping Mistakes Mixing Personal and Business Finances: […]
Maximizing Profit & Staying Audit-Ready: Bookkeeping for Real Estate Agents
Keep clean records of commissions, splits, referral fees, escrow/trust funds, and marketing expenses. Track mileage and transaction-level expenses, reconcile broker splits monthly, save closing docs, and use a simple Commission Tracker + Monthly Checklist to avoid surprises at tax time. Consult your CPA for tax-specific decisions. On the go? Listen on The Deep Dive — where […]
Preventing Fraud & Strengthening Internal Controls for Nonprofits
Nonprofits need simple, effective internal controls—segregation of duties, approval limits, vendor verification, regular reconciliations, and documented policies—to reduce theft and errors. Implement a small set of repeatable controls and run random spot checks. On the go? Listen on The Deep Dive — where we dig deeper into this topic: ‘Nonprofit Fraud Protection_ Essential Lightweight Controls […]
Budgeting & Cash Flow for Nonprofits: Forecasting Through Grant Cycles & Seasonality
Build a program-level budget, create a rolling 6–12 month cash forecast that maps grant payment timing, and model scenarios so you can spot shortfalls early and plan mitigations like bridge funding or rephasing purchases. On the go? Listen on The Deep Dive — where we dig deeper into this topic: ‘Nonprofit Cash Flow Crisis Solved_ How […]
Managing Restricted vs. Unrestricted Funds — Donor Reporting & Transparent Financials
Classify donations on receipt as restricted (purpose or time) or unrestricted. Track spending against restrictions, reconcile fund balances monthly, and produce simple donor reports that combine a one-line financial schedule with impact notes. Proper handling builds trust and simplifies audits. Why this matters On the go? Listen on The Deep Dive — where we dig […]
Audit-Proof Your Nonprofit: How to Prepare for an Internal or External Audit
Prepare a single audit package with reconciled bank accounts, grant schedules, payroll records, fixed asset register, A/R and A/P aging, and supporting documentation. Organize files in a shared folder with consistent naming and a cover index to shorten audit time and reduce findings. Why this matters On the go? Listen on The Deep Dive — […]