Priyanka Ganguly
Bookkeeper for Real Estate & Ecommerce | QuickBooks & Xero
The most dangerous bookkeeping mistake is the one that makes your numbers look normal.
For 3 years, a client's books looked fine.
Then I checked the numbers.
The balance sheet was wrong. Revenue was recorded incorrectly. And the business owner had been making decisions based on those numbers.
They didn't lose money because the books were messy.
They lost time making decisions from numbers that weren't telling the real story.
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Two important tax deadlines are coming up ā and this is exactly why clean, up-to-date books matter.
š September 15th
1ļøā£ S-Corporation & Partnership Returns
If your S-Corp or Partnership filed for an extension, this is the filing deadline.
2ļøā£ Q3 Estimated Tax Payments
Business owners and individuals with investment or other income may also need to make their Q3 estimated tax payment.
But before tax deadlines arrive, your numbers need to be ready.
That means:
ā Books reconciled
ā Business income properly recorded
ā Expenses categorized
ā Profit figures reviewed
ā Financial records ready for your CPA or tax professional
Good bookkeeping isn't just about keeping records organized.
It helps you understand what you've earned, prepare for upcoming tax obligations, and avoid last-minute financial surprises.
Are your books ready for the next tax deadline?
#Bookkeeping #SmallBusiness #QuickBooks #Xero #FinancialCleanup #BusinessFinance
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š Completed an IFRS 9 Financial Instruments Model in Excel
One of the biggest challenges I faced was building the Stage 1, Stage 2 & Stage 3 classification logic correctly.
A small error in SICR, days-past-due, or credit-risk conditions could change an exposure from 12-month ECL to Lifetime ECL and materially affect the impairment calculation.
I solved this by building a formula-driven staging engine that connects the credit-risk inputs directly with the ECL calculation.
The model also covers:
ā¢ AC / FVOCI / FVTPL classification
ā¢ Probability-weighted ECL scenarios
ā¢ Trade Receivables Provision Matrix
ā¢ ECL Allowance Rollforward
ā¢ Hedge Effectiveness & Journal Entries
ā¢ IFRS 7 Disclosures & Sensitivity Analysis
This project was a great combination of accounting logic + Excel automation + financial modeling.
#IFRS9 #Excel #FinancialModeling #ECL #Accounting #FinancialReporting
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audit work
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