OK - here's a tip that will save you ALL KINDS OF GRIEF.
Unless you're EXTREMELY careful with where you put your glue - and how much glue you put there - you're going to get some Glue Squeeze Out. And it WILL raise all kinds of hell later when you apply a finish.
Despite what Norm does - DO NOT wipe off that squeezed out glue with a damp rag. THAT will merely spread it out - AND get it farther into the wood.
You CAN wait 'til the glue skins but hasn't fully set yet to remove it with a sharp chisel or safety razor blade - but you risk dinging the wood and that's a PITA.
OR
You can do something to prevent the squeezed out glue from getting to the wood around the glued joint. No - not a lot of careful masking with tape - that's also a PITA.
THE ANSWER? - WAX! Glue won't stick to wax! DUH!
But not just ANY wax. You want a wax in a form that's easy to apply in a controlled way AND easy to remove later. When it's Finishing Time you don't want ANYTHING between the wood and the finish.
What wax?
Waxilit [R]!
Michael Fortune, a VERY talented furniture designer and maker from Canada shared this little secret in one of his FREE classes at a woodworking show. He was doing a bunch of windsor type chairs and was spending more time cleaning up glue squeeze out than actually making the chairs. He found that applying a little Waxilit [R] around his joints, using a Que-Tip made glue squeeze out clean up a breeze - it just pops right off. When the glue is gone you clean off the Waxalit [R] with alcohol or lacquer thinner on a Que-Tip. TAH-DAH! - problem solved!
If you Google "waxilit" you'll find that it was developed for the wood processing industry - it makes wood slide over cast iron tables etc. and protects the cast iron. Because it was originally for industrial use, it comes in 20 and 55 gallon cans / drums - just a bit more than you'll use in a hundred lifetimes. Thankfully, Lee Valley carries it in a more appropriate size - a 7 oz can - which is still more than you're likely to ever use. For $12.50 US this stuff is worth its weight in gold. It's Lee Valley Item No. 56Z99.61
http://www.leevalley.com/wood/page.aspx?c=2&p=32092&cat=1,43415,43440
Now face towards Ontario, Canada and yell "Thank you Mr. Fortune!" Repeat this process each time his little tip saves you hours of tedium - or a blown finish.
Or - send him a Thank You Note
Micheal C. Fortune
1632 English Line R2
Lakefield, Ontario
Canada K0L2H0
And you might want to check out his website. He's an amazing woodworker, a great teacher and a very nice man who has contributed significantly to woodworking.