In this episode of QuickBooks Mastery for Small Business Success, father-daughter team Erica Northrup and Lee Davis explain why so many hardworking business owners feel confused and frustrated inside QuickBooks—despite putting in real effort.

They break down the hidden system issues that cause financial “messiness,” explore common patchwork fixes that create long-term problems, and show what actually leads to clarity and confidence. Listeners will walk away encouraged, equipped, and better prepared to manage their books proactively.

1. Most messy books are caused by system gaps, not carelessness
2. QuickBooks is built for accountants, not business owners
3. Patchwork fixes create long-term cleanup cycles
4. Understanding money flow builds confidence
5. Sustainable clarity comes from learning in order

1. Where do I tend to “patch” problems instead of fixing root causes?
2. Do I understand how money flows through my business?
3. Am I confident in my financial reports—or just hoping they’re right?

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00:02 - Introduction to QuickBooks Mastery

04:14 - Understanding QuickBooks Challenges

06:51 - Understanding the Challenges of QuickBooks

07:30 - Understanding QuickBooks Setup Issues

14:06 - Understanding QuickBooks: The Importance of a System

17:02 - Understanding the QuickBooks System

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In this episode of QuickBooks Mastery for Small Business Success, father-daughter team Erica Northrup and Lee Davis break down the 8 most common QuickBooks mistakes they see business owners make every week—and how to fix them so your books stay clean and accurate all year long.

If you’ve ever thought, “I’m doing something wrong in QuickBooks… but I’m not sure what,” this episode will give you clarity fast. You’ll learn why these mistakes create messy reports and stressful cleanups, and what simple habits and workflows keep QuickBooks working the way it’s meant to.

1. Reconciling monthly is your first line of defense—skip it and nothing else is reliable.
2. The bank feed is a tool, not a bookkeeper—match first, don’t add blindly.
3. Undeposited Funds errors can make income look wildly wrong.
4. Owner pay must be categorized based on how the business is structured.
5. Return checks need a proper workflow so income isn’t distorted.
6. Vehicles/equipment financed purchases must be set up as assets + loans (not expensed).
7. Monthly reports help you catch problems early—before decisions are made blindly.

1. Which of these 8 mistakes have I made in the last 90 days?
2. If my reports were wrong right now, would I know?
3. Do I have a monthly routine that keeps QuickBooks clean—or am I reacting at tax time?

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(Your question may be featured in a future episode.)

00:55.000 – Episode 13 intro: “I think I’m doing something wrong in QuickBooks…”

02:20.257 – Mistake #1: Not reconciling every single month

05:43.108 – “If reconciliation isn’t done, nothing else is accurate.”

05:53.303 – Mistake #2: Misusing Ask My Accountant / Uncategorized

08:33.000 – “It’s like your inbox—you should never let it pile up.”

08:42.455 – Mistake #3: Not using the bank feed correctly

11:25.000 – “Match, don’t add.”

12:28.000 – “The bank feed is a tool, not your bookkeeper.”

12:41.347 – Mistake #4: Not using Undeposited Funds correctly

15:00.000 – “This mistake makes people think they made $200K more or less.”

15:09.853 – Mistake #5: Incorrectly categorizing owner’s pay

17:08.000 – “This is one of the fastest ways to make your P&L misleading.”

18:06.000 – Mistake #6: Invoicing mistakes (return checks)

19:32.000 – “Clean invoicing equals faster money.”

19:57.054 – Mistake #7: Vehicle/equipment purchases and loans

22:47.000

In this episode of QuickBooks Mastery for Small Business Success, father-daughter team Erica Northrup and Lee Davis explain why learning QuickBooks the right way can transform how you run your business. They share why self-teaching often leads to frustration and costly mistakes, and how hands-on, personalized training helps business owners gain confidence and control.

You’ll learn what quality training looks like, how to choose the right trainer, and why understanding your numbers is one of the most important investments you can make in your business.

Listeners will gain clarity, encouragement, and practical strategies they can begin using right away.

1. Proper QuickBooks training saves time, money, and frustration
2. Hands-on learning builds confidence in your financial reports
3. Accurate data leads to better business decisions
4. Training reduces dependence on outside help
5. Good trainers focus on real-world application, not memorization

1. Am I confident that my QuickBooks setup is correct?
2. Do I understand where my numbers come from?
3. What mistakes might I be making without realizing it?

Free 3-Part Quick Start Guide to Getting Started with QuickBooks

Download at: www.leedavisandcompany.com

Send Us Your Questions:

support@leedavisandcompany.com

00:02 - Introduction to QuickBooks Mastery01:57 - The Importance of QuickBooks Training

11:05 - Real World Benefits of QuickBooks Training

14:49 - Choosing the Right Training for QuickBooks

20:57 - The Importance of Training in QuickBooks

If you enjoyed this episode, hit subscribe and stay connected with us at leedavisandcompany.com.

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Getting ready for your accountant doesn’t have to be stressful. In this episode of QuickBooks Mastery for Small Business Success, father-daughter team Erica Northrup and Lee Davis share the simple steps to prepare your books before tax season (or a quarterly review) so you can save time, money, and frustration.

They explain why being prepared helps your accountant work faster (and helps you avoid missed deductions), then walk through a practical checklist you can use to get everything ready: reconciling accounts, clearing uncategorized transactions, organizing receipts, prepping payroll and loan documents, pulling key reports, updating invoices and bills, tracking major purchases and mileage, and making sure your personal tax documents are in order.

They also cover how to communicate with your accountant—what to ask for, what deadlines to confirm, and what not to send—so you can have a smoother process and fewer surprises.

1. Preparation reduces stress, prevents missed deductions, and saves money on cleanup work.
2. Reconcile bank and credit card accounts and keep personal and business transactions separate.
3. Clear uncategorized transactions and organize receipts/documents (ideally attached inside QuickBooks).
4. Pull key year-end/quarterly reports and review A/R and A/P—especially old balances that may become bad debt.
5. Communicate early: confirm deadlines, ask what format they prefer, and summarize major changes in writing.

1. If my accountant received my file today, what would they flag as “missing” or “messy”?
2. Do I consistently keep personal and business transactions separate—and what needs to change if not?
3. What are 3 business changes this year that my accountant should know in advance?

Free QuickBooks Prep Checklist (PDF): Download Check list here

Free 3-Part Quick Start Guide to Getting Started with QuickBooks: www.leedavisandcompany.com

Send Us Your Questions: support@leedavisandcompany.com

1. Schedule C- Click here to check it out

00:02.080 - Episode 11: Preparing for Your Accountant

03:20.110 – Why preparation matters (save stress, time, money, deductions)

07:42.000 – The checklist: what you should have ready

09:38.315 – Reconcile bank + credit cards (and keep personal/business separate)

10:25.143 – Categorize everything (clear “uncategorized” + clean coding)

12:52.724 – Organize receipts, documents, payroll + loan statements

15:06.329 – Pull/export key reports + update invoices/bills (A/R + A/P)

17:29.313 – Major purchases + mileage/home office/personal business expenses

21:14.000 –...

In this episode of QuickBooks Mastery for Small Business Success, father-daughter team Erica Northrup and Lee Davis break down how to choose the right QuickBooks plan based on your business size, structure, and complexity. They explore why so many business owners overbuy software, the most common mistakes when selecting a plan, and how to confidently match your QuickBooks version to what you actually need today — not where you hope to be someday.

Listeners will gain clarity, confidence, and a simple framework they can use immediately to choose (or adjust) their QuickBooks plan.

1. The real differences between QuickBooks Online and Desktop
2. Who QuickBooks Solopreneur is designed for — and when it makes sense
3. How the Simple Start, Essentials, Plus, and Advanced plans compare
4. Why matching your plan to complexity (not ambition) saves money
5. How to upgrade confidently as your business grows

1. Do I track inventory or projects in my business?
2. How many users truly need access to my books?
3. Do I need budgets, classes, locations, or custom reports?

Free 3-Part Quick Start Guide to Getting Started with QuickBooks

Download at: www.leedavisandcompany.com

Send Us Your Questions:

support@leedavisandcompany.com

1. Free 3-Part Quick Start Guide – www.leedavisandcompany.com
2. Quickbooks Check list (Questions to ask yourself) - Download Here

00:53.477 – Intro: Which QuickBooks plan fits your business?

01:17.522 – QuickBooks Desktop vs Online (what’s changed)

02:56.495 – QuickBooks Solopreneur (who it’s for + key features)

05:12.044 – QuickBooks Online plans overview (Simple Start → Advanced)

05:51.543 – Simple Start

06:53.382 – Essentials

07:36.673 – Plus

08:28.281 – Advanced

09:20.811 – Pro tips (inventory, projects, users, budgeting)

10:04.530 – 4-question decision framework (how to choose fast)

11:08.430 – Promotions and why not to overbuy

11:35.668 – Checking integrations with your industry software

12:07.517 – Key takeaway: match complexity, not ambition

12:46.299 – Recap + teaser for next episode

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Have a QuickBooks...

In this episode of QuickBooks Mastery for Small Business Success, father-daughter team Erica Northrup and Lee Davis break down one of the most common small business questions: “How do I pay myself?” They explain why the answer depends on your business structure and financial goals, and they walk through the three main legal methods of paying yourself—owner’s draw, salary, and distributions/dividends.

They also cover how to decide what’s right for you, why your business plan matters, how to avoid common IRS issues, and how QuickBooks can help you track owner pay properly with reports, payroll, and bank rules. This conversation will help business owners avoid tax surprises, protect cash flow, and build a clean system that supports both the business and the owner.

1. The right way to pay yourself depends on your business structure (LLC/sole prop vs S-Corp/corporation).
2. Owner’s draw is not an expense—it shows on the balance sheet (equity), not the P&L.
3. Salary requires proper payroll setup and payroll tax compliance—don’t run payroll for an LLC owner like an employee.
4. Disability insurance taxation depends on who pays the premium (owner vs company).
5. QuickBooks helps track owner pay with reports, bank rules, and payroll tools—keeping everything clean for tax time and lending.

1. Am I paying myself based on what I need, or what the business can actually afford right now?
2. Do I understand which payments are deductible business expenses vs personal spending?
3. Is my QuickBooks set up so owner pay is categorized correctly and easy to explain at tax time?

Free 3-Part Quick Start Guide to Getting Started with QuickBooks

Download at: www.leedavisandcompany.com

Send Us Your Questions:

support@leedavisandcompany.com

Chapters:

01:16.514 - Why paying yourself the right way matters

04:46.009 - Method 1: Owner’s Draw (LLCs, sole props, partnerships)

9:32.848 - Method 2: Salary (S-Corps / corporations)

11:10.325 - Method 3: Distributions / Dividends

12:07.942 - How to choose the best method (income, risk, goals)

15:11.774- How QuickBooks helps (reports, payroll, bank rules)

16:58.036- FAQ: How much should I pay myself?

17:58.784 - FAQ: 401(k) and retirement priorities

18:40.693 - FAQ: Disability insurance—who should pay?

19:49.045 - FAQ: Paying yourself in an LLC (frequency + structure)

21:53.270 - FAQ: Deductions and what you can/can’t write off

22:53.672 - Common mistakes to avoid (payroll errors, mixing accounts)

1. 24:10 - Payroll tax warnings and why payroll services matter

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Download our free 3-Part Quick Start Guide to...

In this episode of QuickBooks Mastery for Small Business Success, father-daughter team Erica Northrup and Lee Davis break down the most important QuickBooks reports every business owner should review each month—and why they matter.

Too many business owners rely on their bank balance instead of their financial reports. In this episode, Erica and Lee explain how reports tell the real story of your business, help you spot trends early, and give you confidence when making financial decisions.

They walk through where to find each report in QuickBooks, what to look for, and how to use the information to guide growth, manage cash flow, and avoid costly mistakes.

Listeners will walk away with clarity, confidence, and a simple monthly reporting routine they can start using right away.

1. Why reviewing reports monthly is essential for business growth
2. The 5 core QuickBooks reports every business owner should run
3. How to read Profit & Loss, Balance Sheet, and Cash Flow reports
4. How reports help you make better decisions around spending, hiring, and growth
5. Why reports act as your business “report card”

1. Am I reviewing my financial reports consistently—or just checking my bank balance?
2. Do I understand what my numbers are telling me about my business health?
3. Which report could give me the most clarity right now?

Free 3-Part Quick Start Guide to Getting Started with QuickBooks

Download at: www.leedavisandcompany.com

Send Us Your Questions:

support@leedavisandcompany.com

Youtube Link for Episode Video: https://youtu.be/IMGDXiC_hUY

Timestamp | Chapter Title

00:00.000 | Welcome & Introduction

01:25.558 | Why Reports Matter

04:16.674 | #1 Profit & Loss Report

06:06.738 | #2 Balance Sheet

07:47.920 | #3 Cash Flow Statement

09:17.570 | #4 Sales by Customer Summary

11:09.933 | #5 Budget vs Actual

14:16.513. | Bonus & Advanced Reports

17:08.872 | Using Reports to Make Better Decisions

20:26.454 | Practical Reporting Habits

20:26.454 | Outro & Call to Action

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Download our free 3-Part Quick Start Guide to get started with QuickBooks the right way.

Have a QuickBooks question? Send it to support@leedavisandcompany.com — your question may be featured in a future episode.

Episode Title:

Episode 7: Outsourcing Bookkeeping — When & How to Hand Off QuickBooks

In this episode of QuickBooks Mastery for Small Business Success, father-daughter team Erica Northrup and Lee Davisbreak down one of the biggest growth decisions business owners face: when to stop doing it all themselves and outsource bookkeeping. They explore why entrepreneurs hold onto their books for too long, the hidden costs of DIY bookkeeping, and how outsourcing can free up time, reduce stress, and support smarter financial decisions.

You’ll learn how to recognize the signs that it’s time to delegate, what bookkeeping tasks can be safely outsourced, what should always stay in your control, and how to choose a bookkeeper who fits your business. This episode is designed to help you hand off QuickBooks with confidence — without losing visibility or control.

Key Takeaways

1. Why holding onto bookkeeping too long leads to burnout, errors, and missed opportunities
2. Clear signs it’s time to outsource your books
3. Which bookkeeping tasks you should outsource — and which to keep in-house
4. How to evaluate and choose the right bookkeeper for your business
5. What a smooth QuickBooks hand-off process actually looks like

Questions to Reflect On

1. Is bookkeeping taking time away from revenue-producing work?
2. Do I fully understand my financial reports — or avoid looking at them?
3. What could I do with the time I’d gain by outsourcing bookkeeping?

Mentioned in This Episode

Free 3-Part Quick Start Guide to Getting Started with QuickBooks

Download at: www.leedavisandcompany.com

Send Us Your Questions:

support@leedavisandcompany.com

Chapters:

1. 00:02 - Introduction to QuickBooks Mastery
2. 04:59 - Outsourcing Bookkeeping: Signs and Benefits
3. 09:48 - Outsourcing Bookkeeping: Essential Tasks to Delegate
4. 15:23 - Choosing the Right Bookkeeper
5. 17:40 - Key Questions to Ask Your Bookkeeper
6. 21:44 - Transitioning to Professional Bookkeeping

Call to Action

If you enjoyed this episode, hit subscribe and stay connected with us at leedavisandcompany.com.

Download our free 3-Part Quick Start Guide to get started with QuickBooks the right way.

Have a QuickBooks question? Send it to support@leedavisandcompany.com — your question may be featured in a future episode.