The ugly side of business - long

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wrote:

I should not have assumed that all of us have been approached by Nigerians who have 20 million in the bank and need MY help to get it out. All I would have to do to get 2 of that 20 mil, is to show good faith by sending them 200 grand and my password and account information or some such crap. Anyway, nothing sadder than a joke falling flat on it's face, eh? Better luck next time..<G> But, but 'tasteless???' I ooze of taste, bro'. =o)
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wrote:

Took accounting classes in college, and I agree, it isn't that hard to do a simple company's books. They KEY though, it is to get all the information in the right places, correctly notated in the right entry position, and easy for your tax preparer to manipulate if needed. As I said before I did keep my books by hand, but there just isn't any reason (to me) to it anymore. A General Ledger by hand, a trial balance sheet, then a balance sheet by hand, monthly status reports by hand, etc. can really chew up some time. Then you have to input your results into another program to print them out as well.
On a properly set up bookkeeping program, this takes just minutes for everything.

My Accountant charges flat fees for certain reports, and for different types of reports. However, phone calls are different. She charges $125 an hour for good phone, and a half hour is $65. Around here, that is about par unless you find someone that is looking for bookkeeping work or is just getting started.
The advantage of presenting my data in a recognized data format to my tax person is that she can review my procedures for anomalies and for errors. She considers this part of her tax data review chores and is computed into the flat fee she charges for my tax returns. She will not review any data entered on long green spreadsheets for free, and if she doesn't review the data she will use the account summaries as presented for tax preparation. It is so easy for her to review on the computer she goes through it quickly. Hence, no charge.
The other aspect is that she is able to directly import my data into her tax preparation program (she used Peachtree or Intuit products) and that saves her the input time. The two programs I am looking at allow for "an accountant review" in which she can change/manipulate/ correct entries as needed from her software (in other words, it's not a totally proprietary format) to do tax forecasting analysis.
As simple as my current bookkeeping needs are at this time, I don't think it should be necessary to call anyone for a simple set up. I previously used Quicken 4 after deciding to move my books to computer, but that was in the early 90's. It was wonderful. I will never go back to the old green ledger, nor will I go back to designing spreadsheets and doing cell references, and learning how to write cell formulas to generate simple reports. I have spent too many hours figuring out "cannot resolve circular differences" messages when designing my estimating spreadsheets for projects.

I think that's really the key. If it is simple and easy to use, it won't be a chore.

But... if I am reading it right Lee, it is really strongly geared towards home users to manage home expenses, personal investment portfolios, etc. It gets good reviews.

But... if you can get a program that does all that for you, you will not need to spreadsheet a particular event. And if it will perform a particular operation in line with the most popular methods of the day, why would you want to do data entry (and risk mistakes) twice? Plus, the lure of easy reporting is pretty strong. If you can get a template that suits your needs, you have now gotten away from burning another block of time (although in some cases maybe a small one) that you could use for something else.
Plus, I REALLY like the ease of having all my information in any format I want at my fingertips at any time. No books or ledgers, no manual lookups, no manual information compiling or number crunching, nothing along those lines. Talk about a time saver...
Just my thoughts.
Robert
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depreciation schedules. And many accounting programs do not have a depreciation module. Which is one of the reasons I liked Peachtree. They always had a depreciation module.
So in theory, what you are saying is correct. But many folks, including accountants, go with the speadsheet tool for depreciation. And it does not make sense to me either.
I am working with a couple businesses now who are going to straght line depreciation. Just because it substantially reduces the headaches associated with other depreciation options.
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On Mon, 8 Dec 2008 11:29:54 -0800 (PST), " snipped-for-privacy@aol.com"

My only thought goes to backing up the data, redundancy is a good thing. The best media for backup is hard drive based at least 2, online backup are also available but I have no experience with any.
Just thought it worth a mention.
Mark http://home.mchsi.com/~xphome /
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I'd only comment that historically, the double entry accounting system was devised as a way to catch clerical and arithmetic errors. If the books didn't balance, you knew there was an error somewhere. On a computer, there seems to be much less need for that kind of check.
--
Better to be stuck up in a tree than tied to one.

Larry Wasserman - Baltimore Maryland - lwasserm(a)sdf. lonestar.org
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