This is the section of the Chart of Accounts where you’d record money spent on rent, supplies, or software.
What is an expense account?
This annual document must be sent to independent contractors you've paid $600 or more in a year.
What is Form 1099-NEC?
This feature lets you connect your bank directly to QBO, automatically importing transactions daily.
What is bank feeds (or bank connection)?
This financial report shows you how much money came in, how much went out, and what's left over.
What is the profit and loss statement (or income statement)?
These small business owners bring in over a million dollars a year and often still don’t have a proper bookkeeping system.
Who are real estate investors or small law firms?
If you purchase a computer for your business, it doesn’t go under expenses — it goes here instead.
What is a fixed asset?
If you don’t separate your business and personal expenses, your accountant might call it this terrifying word.
What is commingling?
This magical button makes your accountant smile — it confirms your QBO books match your bank statement.
What is reconcile?
If you want to know how much you own, owe, and what’s left — this financial statement is your go-to.
What is the balance sheet?
This is the #1 phrase you’ll hear when someone desperately needs to meet Kash.
What is “I have no idea where my money is going”?
You receive a client payment but haven’t done the work yet — it should go into this liability-type account until earned.
What is unearned revenue (or deferred income)?
Waiting until March to get your books together may lead to this unwanted filing.
What is a tax extension (or Form 4868)?
QBO lets you assign these to expenses or invoices to track income and spending by job or client.
What are classes or projects (or customers/jobs)?
You made $150,000 last year but only have $3,000 in your account. That’s because this statement is missing.
What is the cash flow statement?
Kash starts every client relationship with this — it helps determine if they’re a fit before money is ever discussed.
What is a free consultation (or discovery call)?
This account type tracks how much your business is worth — it’s your assets minus your liabilities.
What is equity (or owner’s equity)?
This term refers to purchases that lower your taxable income — but only if you’ve kept receipts.
What are tax deductions?
QBO has this built-in tool that suggests rules for categorizing transactions — but beware, it's not always right.
What are bank rules (or auto-categorization rules)?
This one number tells you if you’re actually making money — it’s calculated as revenue minus cost of goods sold.
What is gross profit?
This professional often bridges the gap between a small business and their CPA — and she does it in QuickBooks Online.
Who is an accounting consultant (or Kash the Bookkeeper)?
You won’t find “bank fees” in your balance sheet categories, because this financial statement is where they belong.
What is the profit and loss statement (P&L)?
If you claim 100% of your car for business use but your mileage log is “missing,” the IRS might hit you with this.
What is an audit (or a disallowed deduction)?
When you accidentally record the same income twice, you’ll often find the culprit hiding in this part of QBO.
What are undeposited funds (or duplicate deposits)?
This financial KPI is a red flag if it’s negative — it means you’re spending more than you're making, regularly.
What is net income (or net profit/loss)?
You hear someone complaining about spending too much time in spreadsheets and still not knowing if they’re profitable. This is your cue to...
What is refer them to Kash?