SMALL BUSINESS ACCOUNTING HELP
Without customers there is no business. Once a successful marketing and sales strategy is evolved, there are customers. Then, providing those customers with good products or service, and fostering long term relationships with them guarantees the small business a reliable source of repetitive income. Everything looks like it's going great, but is it really? The means to answer that question, and also the principal cause for the failure of a small business... is accounting.
Some of the other factors besides low sales and lack of customers that will cause your business to go in the tank are illustrated by either your ability, or inability to answer the following questions. What is the bottom line? Are you really making money, and if so, how much and on what? How much do you owe, who do you it owe it to, and will you have the funds to pay it back? What is your estimated tax liability? Do you have sufficient funds to pay your quarterly estimates for taxes?
A small business owner who cannot answer these questions with absolute confidence is someone who is looking to take a long walk on a very short pier, business-wise. A good accounting system is an absolute requirement for succeeding in a small business venture. Without it, even the survival of your business is in doubt.
Over the years I have used a number of different accounting systems to track my businesses. However, there is only one recommendation which I would make at this time, and that is QuickBooks. There are many reasons for this, but the principal reason is that it is standardized, and yet easily customizable to handle the requirements of many different types of small business.
This is the accounting solution I use, and that which I would recommend to any small business owner who has not already found another accounting package that works for them. Accounting is my absolute favorite subject, and one in which I will represent myself as an expert with over twenty years experience. Additionally, I have access to expert advice and consultation from an MBA/CPA certified consultant for QuickBooks. You can ask me any question, and you will get an expert answer. However, keep in mind that we are dealing with "small business", not corporate accounting here. Have recently run into a situation where this offer of free advice and consultation was extended considerably beyond the scope of what I am willing to deal with here, and would like to clear this up before it goes any further.
It is not necessary to have a great deal of knowledge about accounting to use QuickBooks. Once it is set up properly it is very easy to use, flexible, and gives you exactly what you need to know about your business, with maybe three or four clicks of the mouse. IMHO, there is no better way to go.
I don't own any stock in QuickBooks, nor am I compensated in any way by them for this recommendation. Bottom line, it is just the best available accounting solution for a small business, affordable, yet flexible and comprehensive.
If you have any questions or problems with accounting or QuickBooks, I will help you. The forum is open. Believe me, you can get a helpful, straightforward answer to your question or problem... I have been there and done that. Just click on the link below.
Small Business Helper Forum