Rankin Bookkeeping

Rankin Bookkeeping Helping business owners gain the financial clarity they need to make confident, profitable decisions to grow their business
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Founded by a certified bookkeeper and payroll specialist, Rankin Bookkeeping understands firsthand the pressures of running a business—juggling sales, operations, client work, and everything in between. That’s why we go beyond data entry. We provide accurate bookkeeping, stress-free payroll solutions, and financial planning support that helps business owners save time, stay compliant, increase revenue and make smarter decisions.

08/31/2026

Quote of the Day
“If a cluttered desk is a sign of a cluttered mind, of what, then, is an empty desk a sign?”
Albert Einstein

A new client asked me , “Can you setup QuickBooks Online for me?” My reply , “Did you know there is a QuickBooks for bus...
08/28/2026

A new client asked me , “Can you setup QuickBooks Online for me?”

My reply , “Did you know there is a QuickBooks for business owner who doesn’t need all the bells and whistles?”

QuickBooks Ledger, is a $10/month QBO subscription available to accounting firms.

It's perfect for owner who don't need all the fancy QBO features.

Are you a business owner who only need basic QBO, let me set this up for you.




My clients’s expenses were high. A simple look into his COA showed two accounts for the same expense.Office SuppliesandO...
08/26/2026

My clients’s expenses were high. A simple look into his COA showed two accounts for the same expense.

Office Supplies
and
Office Supplies Expense

Both have transactions.
But before using QBO’s merge, a quick review of the historical activity to confirm they truly represent the same thing.

QBO's account merge process is a useful tool when used appropriately.

Cleaning up duplicate accounts can be simple —but don't merge accounts blindly.

Reach out if you need help.




A contractor contacted me for bookkeeping work because he didn’t have the time. When I opened his books, I immediately s...
08/19/2026

A contractor contacted me for bookkeeping work because he didn’t have the time. When I opened his books, I immediately saw something was off.
He had been using a service for invoicing and deposits. The problem was the deposits were never properly matched with the invoices in QuickBooks.
That era double his revenue, which caused a major problem .

He told me he filed his 2025 return which showed $367,000 in revenue. His actual revenue was around $260,000.
He had paid taxes on money he never earned.

Once I cleaned up his books, I had him reach out to a referral CPA partner to help him amended his return.

One bookkeeping cleanup saved him thousands in overpaid taxes.

This client financials were telling a story that had nothing to do with reality , don’t let that happen to you.

Who’s checking your numbers against their source? Not sure, let’s check your numbers together.




To all my small business friends Do you believe that getting paid only in cash, means you don't have to report it? That’...
08/18/2026

To all my small business friends

Do you believe that getting paid only in cash, means you don't have to report it? That’s a Myth!

Here's the actual rule: all income is taxable, whether or not you get a form for it. Cash, Venmo, cash app, barter - doesn't matter.
The IRS doesn't care whether a 1099 shows up you’re on the hook regardless.
And this year the 1099-K reporting threshold drops to $600 (down from $2,500 last year).
My gig workers , e-commerce, and business owners ,that means way more of your Venmo, PayPal, and Cash App business income is about to show up on a form that goes straight to the IRS.

So if you've been treating "no form = no problem," 2026 is the year that logic stops working.

The safer move: track every dollar as it comes, form or no form.

When the numbers you report don’t match what the IRS already has, you don’t want to get a letter.

Are you keeping records that match what's about to land in the IRS's hands?

So this happened. You accidentally used your business debit card to pay a personal bill.Since this isn’t a business expe...
08/18/2026

So this happened. You accidentally used your business debit card to pay a personal bill.

Since this isn’t a business expense.
Record it to the appropriate owner draw/distribution or personal-use equity account, depending on your entity and accounting setup.

Although the business paid , by categorizing the expense this way the business doesn’t incur a business expense.

Important: Your tax professional can advise you on the proper equity account for your entity type.

Knowing how to categorize transactions is crucial to clean accurate and trust-worthy books. Reach out to learn more.




You paid $12,000 upfront for your business insurance premium for the year.Did you that the entire amount doesn’t automat...
08/17/2026

You paid $12,000 upfront for your business insurance premium for the year.
Did you that the entire amount doesn’t automatically represents one month's expense?

Depending on your accounting system, that prepaid expenses may need to be recognized over the period the insurance coverage applies.

Just knowing when it was paid isn’t always as important as what period the payment relates to.

I help small businesses understand the difference, need help let’s talk.




Bookkeeping Pro Tip …TransfersTransfers happens when money moves between two business internal accounts. Say you want to...
08/13/2026

Bookkeeping Pro Tip …Transfers

Transfers happens when money moves between two business internal accounts.

Say you want to pay your business credit card bill from your business checking account this month.

Do not record this transaction as income in one account and an expense in the other. This could accidentally overstate your income and expenses.

Instead record the transaction as a transfers. That way both accounts show the transaction happen once. No overstated reports

Accurate bookkeeping isn't just about entering transactions—it's about entering them correctly.

Need help? Let’s discuss how to get your books accurate and organized.



08/12/2026

Have you ever looked at your P&L and thought , “Why is that expense so high?"

Before assuming something is wrong, drill down into the transactions behind the number.

A growing expense category could mean any number of things:
• Prices increased
• You're purchasing more
• Transactions were categorized incorrectly
• Personal expenses were recorded as business expenses

The number is only the beginning of the conversation.

Do you have an expense that keeps growing and you don’t understand why? Let’s figure out the why together.




Success creates blind spots. As businesses grow, Owners often stop questioning recurring expenses.When a financial repor...
08/11/2026

Success creates blind spots.

As businesses grow, Owners often stop questioning recurring expenses.

When a financial report shows small increases in expenses over a quarter
Owners often think:
"It isn't much."
"That renews automatically."
"We've always had it.”
“It’s just the cost of running a business “

What they fail to understand is that
Small leaks become permanent.
Recurring leaks can sink even the most financially stable businesses.

Don’t ignore the leaks, close them before they close your business.

Leaking? Contact me and let’s find those leaks together.




Address

Memphis, TN

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm

Telephone

+19012649672

Website

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