--- title: Machen McChesney Blog | Accounting & Outsourcing (4) description: Accounting & Outsourcing | (4) --- [Family of Services](http://machenmcchesney.com/about-us/family-of-companies/)  |  [CPA & Business Advisory](http://machenmcchesney.com)  |  [Payroll, HR & Benefits](http://focuspaysolutions.com/)  |  [Wealth Management](http://machenmcchesney.com/services/financial-planning-and-wealth-mangement-services/) Auburn-Opelika (334) 887-7022 | Montgomery (334) 244-8900 [![mm-re-cobrand-fd-blues](https://info.machen.cpa/hs-fs/hubfs/mm-re-cobrand-fd-blues.png?width=279&height=100&name=mm-re-cobrand-fd-blues.png)](http://machenmcchesney.com) Search this site on Google Search Google Search this site on Google Search Google - [Client Portal](https://machenmcchesney.sharefile.com/Authentication/Login) - [1040 Electronic Organizer](https://www.my1040data.com/account/login/HT7902990) - [LinkedIn](https://www.linkedin.com/company/675439?trk=tyah&trkInfo=idx%3A1-1-1%2CtarId%3A1424436970395%2Ctas%3Amachen+mcchesney) - 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[Benefits](http://machenmcchesney.com/careers/benefits/) - [Our Stories](http://machenmcchesney.com/careers/our-stories/) - [Current Openings](http://machenmcchesney.com/careers/current-openings-send-resume/) - [Accounting Internship Opportunities](http://machenmcchesney.com/careers/students/) - Contact Us - [Auburn-Opelika Office](http://machenmcchesney.com/contact-us/contact-us-auburn-office/) - [Montgomery Office](http://machenmcchesney.com/contact-us/contact-us-montgomery-office/) # Returning Value Blog ## [Bookkeeping Provides a Solid Foundation for Financial Reporting](https://info.machen.cpa/blog/bookkeeping-provides-a-solid-foundation-for-financial-reporting) ![](https://info.machen.cpa/hubfs/Chris%20Earnest%202025%20udpate%20.jpg) Posted by [Chris Earnest](https://info.machen.cpa/blog/author/chris-earnest) on Jul 09, 2024 [![](https://info.machen.cpa/hubfs/bookkeeping%201918089752-1.jpeg)](https://info.machen.cpa/blog/bookkeeping-provides-a-solid-foundation-for-financial-reporting) There are currently more than 33 million small businesses in the United States, according to the U.S. Chamber of Commerce.To succeed in today’s competitive markets, it’s essential for your business organization to have accurate books and records.  [Full Story](https://info.machen.cpa/blog/bookkeeping-provides-a-solid-foundation-for-financial-reporting) Posted in [Accounting & Outsourcing](https://info.machen.cpa/blog/topic/accounting-outsourcing) ## [Best Practices for Expense Reporting](https://info.machen.cpa/blog/best-practices-for-expense-reporting) ![](https://info.machen.cpa/hubfs/Nick%20Wheeler%202025%20update.jpg) Posted by [Nick Wheeler, CPA](https://info.machen.cpa/blog/author/nick-wheeler-cpa) on Jun 24, 2024 [![](https://info.machen.cpa/hubfs/Expense%20-1432442176-1.jpeg)](https://info.machen.cpa/blog/best-practices-for-expense-reporting) When it comes to expense reporting, having rigorous financial controls is critical to operating a profitable business. You should monitor expenditures incurred by employees on behalf of the company. This enables your organization to track spending, control costs and maintain accurate financial records. [Full Story](https://info.machen.cpa/blog/best-practices-for-expense-reporting) Posted in [Accounting & Outsourcing](https://info.machen.cpa/blog/topic/accounting-outsourcing) ## [Recordkeeping for Tax Purposes](https://info.machen.cpa/blog/recordkeeping-for-tax-purposes) ![](https://info.machen.cpa/hubfs/Chris%20Earnest%202025%20udpate%20.jpg) Posted by [Chris Earnest](https://info.machen.cpa/blog/author/chris-earnest) on Jun 19, 2024 [![](https://info.machen.cpa/hubfs/Accounts%20-1053022672-1.jpeg)](https://info.machen.cpa/blog/recordkeeping-for-tax-purposes) Any recordkeeping system that suits you and your company and clearly shows your income and expenses is OK with the IRS. It's the business you're in that affects the type of records you need to keep for federal tax purposes. [Full Story](https://info.machen.cpa/blog/recordkeeping-for-tax-purposes) Posted in [Accounting & Outsourcing](https://info.machen.cpa/blog/topic/accounting-outsourcing) ## [End Purchase Order Chaos With a Structured Approval Process](https://info.machen.cpa/blog/end-purchase-order-chaos-with-a-structured-approval-process) ![](https://info.machen.cpa/hubfs/Chris%20Earnest%202025%20udpate%20.jpg) Posted by [Chris Earnest](https://info.machen.cpa/blog/author/chris-earnest) on Jun 14, 2024 [![](https://info.machen.cpa/hubfs/Purchase%20Orders%20-153692456-1.jpeg)](https://info.machen.cpa/blog/end-purchase-order-chaos-with-a-structured-approval-process) Whether hiring contractors, buying equipment, or paying vendors, many businesses struggle with the procurement process. Here are some tips for streamlining your company’s purchase order (PO) approval process. [Full Story](https://info.machen.cpa/blog/end-purchase-order-chaos-with-a-structured-approval-process) Posted in [Accounting & Outsourcing](https://info.machen.cpa/blog/topic/accounting-outsourcing) ## [4 Bookkeeping Pitfalls for Small Businesses to Avoid](https://info.machen.cpa/blog/4-bookkeeping-pitfalls-for-small-businesses-to-avoid) ![](https://info.machen.cpa/hubfs/Chris%20Earnest%202025%20udpate%20.jpg) Posted by [Chris Earnest](https://info.machen.cpa/blog/author/chris-earnest) on May 28, 2024 [![](https://info.machen.cpa/hubfs/Accounting%20-1371050406-1.jpeg)](https://info.machen.cpa/blog/4-bookkeeping-pitfalls-for-small-businesses-to-avoid) Accurate bookkeeping is essential to operating a successful small business. The problems created by inadequate bookkeeping practices can have significant, long-lasting consequences. Here are four common pitfalls — and how to avoid them with the right knowledge and tools. [Full Story](https://info.machen.cpa/blog/4-bookkeeping-pitfalls-for-small-businesses-to-avoid) Posted in [Accounting & Outsourcing](https://info.machen.cpa/blog/topic/accounting-outsourcing) ## [Why It's Important to Get Your Company's Financials Done on Time](https://info.machen.cpa/blog/why-its-important-to-get-your-companys-financials-done-on-time) ![](https://info.machen.cpa/hubfs/Melissa%20Motley%202025%20update%20.jpg) Posted by [Melissa Motley, CPA](https://info.machen.cpa/blog/author/melissa-motley-cpa) on Mar 06, 2024 [![](https://info.machen.cpa/hubfs/empty-sand-glass-isolated-on-white-bFinancial%20statement%20hour%20glass.jpeg)](https://info.machen.cpa/blog/why-its-important-to-get-your-companys-financials-done-on-time) Have you completed your company’s year-end financial statements yet? Most calendar-year entities issue their year-end financials by March of the following year. Lenders and investors may think the worst if a company’s financial reports aren’t submitted in a timely manner. Here are three assumptions your stakeholders could make when your financial statements are late. [Full Story](https://info.machen.cpa/blog/why-its-important-to-get-your-companys-financials-done-on-time) Posted in [Accounting & Outsourcing](https://info.machen.cpa/blog/topic/accounting-outsourcing) ## [Solid Financial Reporting Can Help Attract Debt and Equity Financing](https://info.machen.cpa/blog/solid-financial-reporting-can-help-attract-debt-and-equity-financing) ![](https://info.machen.cpa/hubfs/Melissa%20Motley%202025%20update%20.jpg) Posted by [Melissa Motley, CPA](https://info.machen.cpa/blog/author/melissa-motley-cpa) on Feb 08, 2024 [![](https://info.machen.cpa/hubfs/Financial%20Statements%20blue%20background.jpeg)](https://info.machen.cpa/blog/solid-financial-reporting-can-help-attract-debt-and-equity-financing) Financial reporting plays a key role when a business needs funds for continued operations and strategic investment opportunities. Lenders and investors will generally want to review your company’s financial statements before they give it money. Timely, reliable reports can increase the odds that a bank will approve your company’s loan application and equity investors will provide capital. [Full Story](https://info.machen.cpa/blog/solid-financial-reporting-can-help-attract-debt-and-equity-financing) Posted in [Accounting & Outsourcing](https://info.machen.cpa/blog/topic/accounting-outsourcing) ## [Tips for QuickBooks Users: 5 Mistakes to Avoid During Bank Reconciliation](https://info.machen.cpa/blog/tips-for-quickbooks-users-5-mistakes-to-avoid-during-bank-reconciliation) ![](https://info.machen.cpa/hubfs/Chris%20Earnest%202025%20udpate%20.jpg) Posted by [Chris Earnest](https://info.machen.cpa/blog/author/chris-earnest) on Jan 04, 2024 [![](https://info.machen.cpa/hubfs/online%20banking%201171066964-1.jpeg)](https://info.machen.cpa/blog/tips-for-quickbooks-users-5-mistakes-to-avoid-during-bank-reconciliation) Reconciling bank accounts is critical to ensuring the accuracy of your company’s accounting records. The primary purpose of a bank reconciliation is to confirm that the transactions recorded in your bank statement match those shown in your accounting records. [Full Story](https://info.machen.cpa/blog/tips-for-quickbooks-users-5-mistakes-to-avoid-during-bank-reconciliation) Posted in [Accounting & Outsourcing](https://info.machen.cpa/blog/topic/accounting-outsourcing) ## [Using QuickBooks to Prepare 2024 Budgets and Forecasts](https://info.machen.cpa/blog/using-quickbooks-to-prepare-2024-budgets-and-forecasts) ![](https://info.machen.cpa/hubfs/Chris%20Earnest%202025%20udpate%20.jpg) Posted by [Chris Earnest](https://info.machen.cpa/blog/author/chris-earnest) on Nov 28, 2023 [![](https://info.machen.cpa/hubfs/Budgets%20-1485989751-1.jpeg)](https://info.machen.cpa/blog/using-quickbooks-to-prepare-2024-budgets-and-forecasts) As year-end nears, many businesses and nonprofits are planning for 2024. QuickBooks® provides budget and forecast features to help management make financial predictions, as well as assess “what if” scenarios to help make more informed business decisions. Here’s how you can use these tools for your year-end financial planning. [Full Story](https://info.machen.cpa/blog/using-quickbooks-to-prepare-2024-budgets-and-forecasts) Posted in [Accounting & Outsourcing](https://info.machen.cpa/blog/topic/accounting-outsourcing) ## [Tips for a Faster Month-End Close](https://info.machen.cpa/blog/tips-for-a-faster-month-end-close) ![](https://info.machen.cpa/hubfs/Chris%20Earnest%202025%20udpate%20.jpg) Posted by [Chris Earnest](https://info.machen.cpa/blog/author/chris-earnest) on Oct 23, 2023 [![](https://info.machen.cpa/hubfs/Month%20end%20-1179628011-1.jpeg)](https://info.machen.cpa/blog/tips-for-a-faster-month-end-close) Does your company struggle to close its books at the end of each month? The month-end close requires accounting personnel to round up data from across the organization. This process can strain internal resources, potentially leading to delayed financial reporting, errors, and even fraud. Here are some simple ways to streamline your company’s monthly closing process. [Full Story](https://info.machen.cpa/blog/tips-for-a-faster-month-end-close) Posted in [Accounting & Outsourcing](https://info.machen.cpa/blog/topic/accounting-outsourcing) [Previous](https://info.machen.cpa/blog/topic/accounting-outsourcing/page/3) [Next](https://info.machen.cpa/blog/topic/accounting-outsourcing/page/5) Search this site on Google Search Google ### Recent Posts ### Subscribe to Blog ### Posts by Category - [Business Tax (356)](https://info.machen.cpa/blog/topic/business-tax) - [Business Advisory (239)](https://info.machen.cpa/blog/topic/business-advisory) - [Payroll, HR & Benefits (124)](https://info.machen.cpa/blog/topic/payroll-hr-benefits) - [Audit & Assurance (113)](https://info.machen.cpa/blog/topic/audit-assurance) - [Accounting & Outsourcing (81)](https://info.machen.cpa/blog/topic/accounting-outsourcing) - [Individual Tax (75)](https://info.machen.cpa/blog/topic/individual-tax) - [Tax Planning (33)](https://info.machen.cpa/blog/topic/tax-planning) - [Tax Updates (25)](https://info.machen.cpa/blog/topic/tax-updates) - [Retirement & Wealth Management Planning (18)](https://info.machen.cpa/blog/topic/retirement-wealth-management-planning) - [Taxation (15)](https://info.machen.cpa/blog/topic/taxation) - [Alerts (13)](https://info.machen.cpa/blog/topic/alerts) - [Business Valuation (11)](https://info.machen.cpa/blog/topic/business-valuation) - [News & Events (11)](https://info.machen.cpa/blog/topic/news-events) - [Tax News (11)](https://info.machen.cpa/blog/topic/tax-news) - [Individual Tax Planning (10)](https://info.machen.cpa/blog/topic/individual-tax-planning) - [Not For Profit (10)](https://info.machen.cpa/blog/topic/not-for-profit) - [Retirement Planning (9)](https://info.machen.cpa/blog/topic/retirement-planning) - [Estate Planning (8)](https://info.machen.cpa/blog/topic/estate-planning) - [Manufacturing Industry Insights (7)](https://info.machen.cpa/blog/topic/manufacturing-industry-insights) - [Individuals (1)](https://info.machen.cpa/blog/topic/individuals) - [Insider (1)](https://info.machen.cpa/blog/topic/insider) - [Professional Standard News (1)](https://info.machen.cpa/blog/topic/professional-standard-news) see all [![Returning\_Value](https://info.machen.cpa/hs-fs/file-2504250850-jpg/Machen-Blog-Image/Returning_Value.jpg)](http://machenmcchesney.com/about-us/mission-and-values/) - [![AICPA](https://machenmcchesney.com/img/logos/aicpa.jpg)](https://www.aicpa-cima.com/) - [![NACVA](https://machenmcchesney.com/img/logos/nacva.jpg)](http://www.nacva.com/) - ![2026 INSIDE Public Accounting Top 400](https://machenmcchesney.com/img/2026-ipa-top-400.jpg) - ![2026 Best of Auburn-Opelika](https://machenmcchesney.com/img/2026-best-of-auburn-opelika.jpg) - [![2025 Best of OA](https://machenmcchesney.com/img/2025-best-of-oa.jpg)](https://oanow.com/exclusive/readerschoice/ballot-2025/) - ![2026 Best of OA Winner](https://machenmcchesney.com/img/2026-best-of-oa-winner.jpg) - [![2025 Accounting Today Regional Leaders](https://machenmcchesney.com/img/2025-accounting-today-regional-leaders.jpg)](https://www.accountingtoday.com/) - [![ClearlyRated Best of Accounting](https://machenmcchesney.com/img/2024-best-of-accounting.jpg)](https://www.clearlyrated.com/accounting) - [![ClearlyRated Best of Accounting Employee](https://machenmcchesney.com/img/2024-best-of-accounting-employee.jpg)](https://www.clearlyrated.com/accounting) 1820 East University Drive, Auburn, AL 36830 | Tel: (334) 887-7022 | Fax: (334) 887-7221 1761 Taliaferro Trail, Montgomery, AL 36117 | Tel: (334) 244-8900 | Fax: (334) 364-0927 † This is not a CPA firm. \* Assurance, attest, and audit services provided by Frazier & Deeter, LLC. “Frazier & Deeter” is the brand name under which Frazier & Deeter, LLC\* and Frazier & Deeter Advisory, LLC† and its subsidiary entities provide professional services. 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