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HBO and The Ringer's Bill Simmons hosts the most downloaded sports podcast of all time, with a rotating crew of celebrities, athletes, and media staples, as well as mainstays like Cousin Sal, Joe House, and a slew of other friends and family members who always happen to be suspiciously available.
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Episode 2: Common QuickBooks Challenges and How to Fix Them
In this week’s episode of QuickBooks Mastery for Small Business Success, father-daughter team Erica Northrup and Lee Davis tackle one of the biggest struggles small business owners face: QuickBooks messes. From confusing bank feeds to incorrect categorization to messy charts of accounts, this episode breaks down why QuickBooks often becomes overwhelming—and more importantly, how to fix it.
Drawing from decades of experience helping business owners clean up their books, Lee explains the foundational mistakes that lead to chaos in QuickBooks and the simple steps anyone can take to regain control. Erica adds practical insights, relatable stories, and a fresh perspective on why small, consistent habits make all the difference.
Whether you're new to QuickBooks or knee-deep in a bookkeeping tangle, this episode offers clarity, encouragement, and simple next steps to get your books back on track.
Key Takeaways
- Many QuickBooks messes begin with a misunderstanding of accounting fundamentals.
- Connecting bank feeds too early or without proper setup often creates duplicated or incorrect transactions.
- A messy Chart of Accounts leads to confusing financial reports and poor decision-making.
- Incorrect categorization—especially mixing business and personal expenses—causes tax issues and inaccurate cash flow.
- Reconciling your accounts monthly is one of the simplest ways to prevent major financial confusion.
- QuickBooks has tools that save time (like rules and automations), but they must be set up correctly.
- Sometimes the fastest path to clarity is hiring an expert to clean up your books and guide you forward.
Questions to Reflect On
- When was the last time you felt confident in your QuickBooks reports?
- Are your Chart of Accounts and categories helping—or confusing—you?
- Are your business and personal expenses fully separated?
- Do you reconcile every month, or only when tax season arrives?
- What small habit could you start this week to keep your books cleaner?
Mentioned in This Episode
Free Resource:
3-Part Quick Start Guide to Getting Started with QuickBooks
Download at: www.leedavisandcompany.com
Send Us Your Questions:
Timestamps
Chapters:
- 00:02 - Introduction to QuickBooks Mastery
- 03:28 - Common QuickBooks Mistakes and How to Fix Them
- 07:52 - Understanding the Chart of Accounts
- 13:50 - Cleaning Up Your Financial Mess
- 16:26 - Transitioning to QuickBooks Automation
4 episodes
