In this episode of QuickBooks Mastery for Small Business Success, father-daughter team Erica Northrup and Lee Davis explore a problem many business owners overlook — the hidden cost of QuickBooks that is “mostly working.”

They break down why “good enough” often creates stress, poor decision-making, tax surprises, and missed opportunities, even when there are no obvious red flags. The conversation highlights how unreliable financial data affects confidence, growth, and peace of mind — and what changes when your books are done correctly.

Listeners will gain clarity around why improving QuickBooks isn’t just about compliance — it’s about building a stronger business foundation.

1. “Good enough” books often hide deeper problems and missed opportunities
2. Inaccurate financial data leads to poor decisions around pricing, hiring, and growth
3. Tax season becomes stressful when systems aren’t reliable
4. Clean books create confidence, clarity, and better long-term planning
5. The biggest benefit of accurate financials is peace of mind

1. Do I fully trust the numbers in my QuickBooks reports?
2. Am I avoiding looking at my financial data because it feels confusing?
3. What decisions would I make differently if I had complete clarity?

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

Download at: www.leedavisandcompany.com

Send Us Your Questions:

support@leedavisandcompany.com

1. Episode: QuickBooks Reports You Should Check Every Month
2. Free Quick Start Guide at leedavisandcompany.com
3. Episode 8 on Reports

1. 00:02 - Introduction to QuickBooks Mastery
2. 01:06 - Understanding Good Enough QuickBooks
3. 04:34 - Understanding Excuse Alley and Its Impact on Business Decisions
4. 14:00 - The Consequences of Poor Financial Tracking
5. 18:21 - Understanding the Costs of Deferring Financial Management
6. 19:46 - Transitioning to Financial Clarity

If you...

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?

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 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

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.

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?

Send Us Your Questions: support@leedavisandcompany.com

(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