Reports start lying quietly. Proper categorization means: Every expense or income goes to the right account fuel, materials, software, rent. It sits in the correct period, so that month’s profit is true. If this is wrong: Profit can look higher or lower than reality. Tax planning and deductions go wrong. Business owner takes decisions on fake numbers. One article even says incorrect categorizations in QBO impact every element of your accounting file from profit & loss to cash flow to tax. #QBO #Bookkeeping #Accounts #Categorize