Prior Period Panic
🔥 Prior Period Panic? Oh, we’ve all been there. One minute you’re reconciling January 2024, next thing you know, you're knee-deep in 2023's mystery meat of transactions. 😅
Here’s the real talk from the bookkeeping trenches:
Here’s the real talk from the bookkeeping trenches:
📌 No Adjustments? You're Lucky.
If you reconciled a year with no adjustments, go buy a lottery ticket. That never happens. Like… ever.
If you reconciled a year with no adjustments, go buy a lottery ticket. That never happens. Like… ever.
📌 The Tax Return is Sacred-ish.
Once it’s filed, draw that line in the sand. Adjust forward. Don’t look back unless you like pain and unpaid overtime.
📌 Keep It Clean, Not Complicated.
Use judgment. Make it tidy. Prior year mess? Shove it in equity with a post-it that says “not my circus, not my tax return.”
Use judgment. Make it tidy. Prior year mess? Shove it in equity with a post-it that says “not my circus, not my tax return.”
✨ Remember: You’re not going to jail. Just make the books right going forward and sleep easy.
🔥 Join our Bookkeepers On Fire Community to connect 🤝, collaborate 💬, and thrive 🚀 with like-minded professionals who are passionate about bookkeeping, accounting and business growth.
🔥 Join our Bookkeepers On Fire Community to connect 🤝, collaborate 💬, and thrive 🚀 with like-minded professionals who are passionate about bookkeeping, accounting and business growth.
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