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Join nowI'm here to share some details about GAAP, userbaxtermysafety.
GAAP is integrated into QuickBooks’ small business accounting software. To ensure your financials are GAAP compliant, I suggest working with an accountant. In case you don't have any, I suggest checking out this article to find one: https://quickbooks.intuit.com/find-an-accountant/.
Aside from that, I also recommend visiting our QuickBooks Live Bookkeeping page. This way, you can find a QuickBooks-certified bookkeeper to categorize transactions and reconcile your bank statements, so your books are accurate.
Additionally, I encourage checking our Help articles page to learn some tips and tricks in managing your QuickBooks Online account. From there, you can read articles that can guide you through the steps by steps process.
We're always here to help if you need assistance with anything else. This is to make sure we'll be able to assist you on time.
GAAP compliance requires specific accounting ENTRIES be made regardless of the accounting system used. There is really no way for any "system" to handle GAAP compliance for you. GAAP "format" does not refer to the cosmetic look of the printed financial statements, it refers to dollar amounts in each account being correct. Attached is a simple summary of GAAP compliance requirements. I see this question is older, but this topic comes up often and there are many misleading answers posted here, where I hate to see anyone confused.
I can share more if interested. Been doing GAAP compliant accounting for over 30 years.
GAAP compliance requires specific accounting ENTRIES be made regardless of the accounting system used. There is really no way for any "system" to handle GAAP compliance for you. GAAP "format" does not refer to the cosmetic look of the printed financial statements, it refers to dollar amounts in each account having been recorded correctly based on GAAP rules. Attached is a simple summary of GAAP compliance requirements. I see this question is older but this topic comes up often and there are many misleading answers posted here, which I hate to see. Hope this helps.
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