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Accounting is really quite simple and straight-forward. You have money coming into your business in return for the goods and/or services you provide; and you have money going out of your business to pay for your materials, your employees, your equipment and physical facilities (i.e. the costs that you incur in providing those goods and services).
- If you have more money come in than goes out, you make a profit. Good job!
- If you have more money go out than comes in, you have a loss. Too bad!
Unfortunately, when you throw in Inventory, Accounts Receivable, Accounts Payable, Depreciation, and a lot of the other time-related aspects of accounting that affect your financial reports, it just doesn't seem quite that simple.
But, when you own a business, accounting is something you have to do! Using a manual bookkeeping system can be frustrating and time-consuming, even if you have the background for it. A computerized accounting system, such as QuickBooks© or Peachtree Accounting©, can help. But it probably won't save you much time. And it won't turn you into an accountant any more than purchasing a computerized design or CAD system will turn you into an architect or engineer. In fact, without proper setup and installation, computerized accounting systems often leave you just as confused, but at a much lower level of detail.
To manage your business profitably, you need the right financial data, advice and services. But you may not have knowledge or ability to do it all yourself -- and if you do, that still might not be the best or most profitable use of your time. Our accounting firms can provide you with the accounting, consulting, payroll, tax services, and other business services you need to profitably manage and grow your company. Each of our member accounting firms want to be part of your success. Count on our members to listen, give you top priority, and respond promptly with cost-effective services specifically suited to your personal capabilities and business needs
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