Palek Bookkeeping, LLC.

Solving Accounting Mysteries Daily!


Unsolved Accounting Mysteries

Sage 100 Contractor – Bonding Report

Need to know what your backlog is of construction contracts? How about a number to give to the insurance folks about how much in sales you expect for the year? Or if you’re not the one setting up jobs, how… Continue Reading →

Cash Flow and Blank Checks

Just because you have blank checks in your checkbook, does NOT mean you have money to spend. Cash flow works the same, just because you have money in your bank account, does not mean you have money to spend.  Cash… Continue Reading →

How to know when you’re ready?

When do you throw your hands up in the air and say I’m done, I’m done doing DIY Bookkeeping?! I hope to enlighten everyone with not only when to say “when,” but also the differences between a bookkeeper and accountant.

Quickbooks Desktop vs. Quickbooks Online

Tomato Tamatoe! Have you ever wondered what the differences are between Quickbooks Online and Quickbooks Desktop? We’re here to show you. Check it out!

Balance Sheet

Mystery Solved, what is a balance sheet any way?! If you google it, it would tell you it’s assets minus liabilities and equity and that’s what your company is worth. I’d only add to that a wee bit about it… Continue Reading →

Profit and Loss, Mystery Solved!

Do you know how to figure out the “bottom line?” How much money are you making after it’s all said and done? We’ll go over what a profit and loss statement or income statement is and how it’s useful to… Continue Reading →

Sage 100 Contractor Subcontractor Retention

Do you withhold retention on your subcontractors? What is retention, any way? It’s a good idea to withhold retention on your subcontractors to make sure they get the job done, and on time. Retention is usually a percentage of a… Continue Reading →

Sage 100 Contractor and Lien Waivers

Are you frustrated with keeping track of lien waivers? Sage 100 Contractor, can not only print them for you, but can track their status as well. Lien Waivers are a huge deal in the construction industry. They protect you from… Continue Reading →

QB Online Products and Services Feature

Do you know how to keep track of your income, by products or services?  This could be very important to gain the information on your company’s sales, and what it sells the most of, so you can then pursue those… Continue Reading →

Sage 100 Contractor and Certs of Insurance

Watch my latest vlog about how Sage 100 Contractor can keep track of your certificates of insurance.  As a construction accountant, most of my 22 years of career, I have to say how invaluable it is to be able to… Continue Reading →

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