Alchemy Accounting

Happy Labor Day!

Today is a reminder to step away from the to do list and celebrate all the hard work you put in throughout the year.

We hope you enjoy the holiday weekend!

What are your Labor Day plans?

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?

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?

📣 Every year, the Canadian Choice Award acknowledges outstanding businesses, professionals, and organizations across Canada for their excellence, service, reputation, and community impact.

The 2027 nominations are now open, and we would love to get your support for Alchemy to become an Official Nominee in the Bookkeeping Services category for Chilliwack!

Here’s how to submit your nomination:
1️⃣ Click on this personalized link for Alchemy: https://canadianchoiceaward.ca/nominations/?shareurl=0TEx-dbc4lEBKFBx_yPv
2️⃣ Enter your first and last name along with your email.
3️⃣ Check your inbox for a one-time password (OTP) and enter it in the form.
4️⃣ Our business information will be filled in automatically once verified, so you would just need to answer the remaining question in that page.
5️⃣ Click on Submit Nomination.

Your support would mean the world to us. Thank you very much for your help!

What needs the most attention in your business before Q4?

Something else? Add it in the comments!

Old balances in accounts like Suspense, Uncategorized Income, Uncategorized Expense, or Uncategorized Asset are usually a sign that something needs attention.

Here's what to do:

- Run a report for the account and review all transactions.
- Open each transaction to identify the vendor, customer, or bank activity.
- Reassign the transaction to the correct income, expense, asset, or equity account.
- Reconcile your accounts to confirm your books are accurate.

These issues are more common than you think, and they can affect your Profit & Loss, Balance Sheet, and the accuracy of your tax return.

That's why it's important to review and clean up your books regularly.

Have questions? Drop them in the comments below.

Save this post for later and follow for more practical bookkeeping, business, and money tips to help keep your business finances organized.

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?

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.

Before you expand, ask yourself:

- Can I afford the additional monthly expenses?

- Do I have enough cash flow to support growth?

- Is customer demand consistent?

- Have I reviewed my pricing and profit margins?

- Have I created a budget for the expansion?

- Do I have enough cash reserves?

- Do I have accurate financial reports to make this decision?

Expanding at the right time can fuel growth.

Expanding too soon can put unnecessary pressure on your business.

Save this post for when you're planning your next stage of growth, and follow for more practical CFO, bookkeeping, and business finance tips.

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.