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What accounting software are you using?

 
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Virginiasmoke
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PostPosted: Jun 01 2012    Post subject: What accounting software are you using? Reply with quote

I've gotten to the point where my simple Excel spreadsheet isn't cutting it anymore.
I just started a free trial of Quickbooks Simple Start.
I didn't opt for one of the fuller versions because I don't keep inventory, have accounts receivable/payable, payroll or do a lot of invoicing.
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Jarhead
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PostPosted: Jun 02 2012    Post subject: Reply with quote

Quote:
I didn't opt for one of the fuller versions because I don't keep inventory, have accounts receivable/payable, payroll or do a lot of invoicing.

Have you or do you know of anyone that has completed Accounting 101A?

I just use a simple double entry system on a 24 column (?) ledger and post to the accounts at the end of the month.

Inventory is expensed the date of purchase.
I just use a cash register tape to post from.
Square charges get included as a charge and posted as cash receipt when completed.

Reversing and posting entries are done with a 2 or 4 column ledger monthly.

Piece of cake. Just sounds complicated.
You will need to set up one and test against your new Quickbooks anyway.

I thought about setting up what you are talking about, but I'm ole skool.
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solaryellow
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PostPosted: Jun 03 2012    Post subject: Reply with quote

Are you using an accountant virginiasmoke? If so, I would ask them what their preference is.
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Virginiasmoke
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PostPosted: Jun 03 2012    Post subject: Reply with quote

Jarhead... I'm seriously considering taking a basic, entry level accounting course. Then I might know what double entry and other types of accounting is.


solaryellow... I don't use an accountant but I would guess they all are at least familiar with Quickbooks.
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Jarhead
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PostPosted: Jun 03 2012    Post subject: Reply with quote

Virginiasmoke wrote:
Jarhead... I'm seriously considering taking a basic, entry level accounting course. Then I might know what double entry and other types of accounting is.

You will need to have a basic knowledge anyway, regardless if you set up QB or not. Just go get a used book and a new workbook and do it on your own. If you have problems I'll give you a hand.
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Virginiasmoke
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PostPosted: Jun 04 2012    Post subject: Reply with quote

I agree.
I realized that when I was setting up my free trial of Quickbooks.
I'm looking at a local community college for an intro coarse.
I see a couple on-line courses but I'd rather have a hands on class room experience.
I would like to get a course book but I see too many different options.
Can you suggest a very basic coarse book for small business retail style book-keeping?
Thank you for your offer.
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Jarhead
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PostPosted: Jun 04 2012    Post subject: Reply with quote

VS, the book that I used is probably out of print now. Embarassed Laughing
I remember the book was used for 2 courses. 101a and 101b. "A" is the one you want. "B" gets into corporate accounting.
Do you have a used book store there? That's where I would start and call the instructor to see which one he/she uses. Just get a NEW workbook. Now is the perfect time with school getting out for the summer.
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Virginiasmoke
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PostPosted: Jun 04 2012    Post subject: Reply with quote

Okay... easy enough, I'll get an accounting 101A textbook.
Sorry for being dense but what do you mean by workbook?
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Jarhead
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PostPosted: Jun 04 2012    Post subject: Reply with quote

Virginiasmoke wrote:
Okay... easy enough, I'll get an accounting 101A textbook.
Sorry for being dense but what do you mean by workbook?

A workbook is where you do your problems that are assigned from the text book, so you don't have to set each problem up and buy a ton of ledger books. It will be a paperback with tear-out sheets.
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Virginiasmoke
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PostPosted: Jun 04 2012    Post subject: Reply with quote

Ah... okay, gotcha.
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Mr Tony's BBQ
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PostPosted: Jun 04 2012    Post subject: Reply with quote

I have been in business 21 years now, just recently started using quickbooks per my wifes insistence, [ I have always done my own books] I had always used msmoney or quicken for my accountant at end of year - basic electronic checkbook ledger, whatever came with new computer.....as far as I am concerned, QB has doubled my paperwork time!! Its not all that different, just a pain in my @$$.....I used to do like Jarhead - here's what I brought in, here's what I spent on materials, bills etc, whats leftover is profit....worked fine for 20 years......accountant understood it too!! Now all this fan-dangled 'puter input...."you dont have an account set up for that" crap, and having 3 different accounts may be easy to set up, but a royal pain to toggle between..... soo many ways to screw up... .....Dont get me wrong - QB does a fine job, my wife is a book keeper and has used it for years - my point is - it seems to make a need for a full time employee to keep the data entry entered!! I am not into making more work for myself - if my accountant doesnt show great appreciation for my efforts, I'm going back to a pencil and paper!
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Virginiasmoke
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PostPosted: Jun 04 2012    Post subject: Reply with quote

Laughing
Thanks for the input Tony.
I'm gonna give it a try for now and see how it goes.
I guess since I've never done any sort of bookkeeping, I have no reference point so there won't be any extra work.
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