by: Brandon Hall
With any good luck and a good amount of hard work, you're having the same problem many business owners today are facing. Your business is growing rapidly and you're having problems controlling your finances. Time and time again, that Microsoft Excel spreadsheet you've been using just isn't getting the job done for you.
So, you’ve decided that you’re ready to take the next step, and buy a full-featured accounting software program. Many options are available to choose from, but I believe the best solutions to be Quicken Premier Home and Business by Intuit, QuickBooks Pro also by Intuit, and Peachtree Accounting by Sage. In order to decide on the right package for you, you need define the type of business that you operate.
With the rise of self-employment (businesses with one or more owners but no paid employees) a need has arisen to manage business and personal finances on one platform. Intuit has released Quicken 2005 Premier Home and Business to fill this need.
This software is perfect for the small business owner who receives income from investments, real estate, and/or internet
marketing. Also, Quicken 2005 Premier Home and Business is well priced at only $89.95.
For more typical brick-and-mortar business owners, you will usually need a more robust solution like QuickBooks Pro or
Peachtree Accounting for functions like payroll reporting and check producing. Each piece of software has its advantages,
but don't forget that QuickBooks has been the standard in business accounting software for many years now. As for features and basic operations, both applications will provide you the same functionality and convenience for your business.
One additional factor to consider in your decision is that Peachtree Accounting is less expensive than QuickBooks. Both
starter versions of Peachtree and QuickBooks are priced at $99.95 each, but the full-featured version of Peachtree is priced at only $199.95 while the full-featured QuickBooks Pro is priced at $299.95.
At the end of the day, the biggest advantage QuickBooks offers over Peachtree is compatibility with other applications. For example, most commercial banks (Bank of America, SunTrust, etc...) provide you with files designed to work directly with
QuickBooks, so that you can read, study, and decipher transaction details. Also, some banks will allow you to update account information in real-time with QuickBooks. Check with your bank to see what accounting software their online services support, and you should be able to make your decision.
About the author:
Brandon Hall owns http://www.accountingsoftwareportal.com which is a site dedicated to providing resources, links, articles, and news related to accounting software products.
Circulated by Article Emporium
Wednesday, November 28, 2007
Monday, November 26, 2007
Business Accounting
By Jeremy V Smith
With the start of any new business, the matter of accounting will go hand in hand with success. While there are some small businesses that can get away without having an actual CPA on hand, it is critical to know at least a little about balancing the books before getting into the business arena. Far too many businesses can find themselves in the red without knowing it if they do not have a firm grasp on where the money is going, and how much of it is coming in. This includes making sure the books are balanced, keeping a close eye on accounts receivable and accounts payable, and making sure payroll is where it should be. With that in mind, let’s take a look at what the small businessman needs to know about accounting before venturing forth with his or her business.
One of the first things that can put a stop to any new businessman is the sheer weight of the terminology. Without a degree in accounting, and with little real business knowledge other than that of a great idea and a firm grasp of salesmanship, the prospect of learning the foreign language can be a bit daunting. But it need not be. If you have the skills and intelligence needed to start your own business, you will have the requisite ability to learn the field of accounting terminology. If you find you do not have these skills, your choices are two: find another field of employment, or hire someone to do the books for you. The second choice has its own perils, however. Unless you hire someone you can assuredly trust, handing the books over to a stranger can be a dangerous move. It is advisable to learn all you can about accounting even if you do intend to let someone else handle the day to day grind. That way, you’ll be able to tell if you’re getting ripped off.
It’s also important to understand that accounting doesn’t stop with facts, figures, and cash flow. It extends to every aspect of your business. Accounting is a part of figuring out trends in your customer’s buying activities. Accounting is a part of finding which of your customer’s buy which products and at which times of the years. Without these numbers, you’re going on instinct, which is never a good thing. The best salesman in the world usually makes the poorest purchasing agent. This is because those down in the field, among the people, usually have the worst ideas about long term buying activity. They might sell one widget in February and another in August and be under the mistaken impression that this is a hot selling item. Proper accounting will tell you the truth in cold numbers.
Accounting has always been, and always will be one of the most important components of a successful business. Neglect its importance at your own peril. Accounting helps keep everything afloat and lets the small business owner know where his capital is, where his profits are, and what the trends show for the future. Without this information, the owner is adrift in a sea, lost without a map. And that is not a recipe for success.
About The Author: Not long ago, I didn't know ANYTHING about Internet marketing... However, within just 2 years, I launched my own website AND learned how to profit from an opt-in list, pull in sales with ezines, make money with Google Adwords and setup my own BLOG! Here's how: http://www.cashflowinternet.com
NOTE: You have full permission to reprint this article within your website or newsletter as long as you leave the article fully intact and include the "About The Author" resource box. Thanks! :-)
Article Source: http://EzineArticles.com/?expert=Jeremy_V_Smith
With the start of any new business, the matter of accounting will go hand in hand with success. While there are some small businesses that can get away without having an actual CPA on hand, it is critical to know at least a little about balancing the books before getting into the business arena. Far too many businesses can find themselves in the red without knowing it if they do not have a firm grasp on where the money is going, and how much of it is coming in. This includes making sure the books are balanced, keeping a close eye on accounts receivable and accounts payable, and making sure payroll is where it should be. With that in mind, let’s take a look at what the small businessman needs to know about accounting before venturing forth with his or her business.
One of the first things that can put a stop to any new businessman is the sheer weight of the terminology. Without a degree in accounting, and with little real business knowledge other than that of a great idea and a firm grasp of salesmanship, the prospect of learning the foreign language can be a bit daunting. But it need not be. If you have the skills and intelligence needed to start your own business, you will have the requisite ability to learn the field of accounting terminology. If you find you do not have these skills, your choices are two: find another field of employment, or hire someone to do the books for you. The second choice has its own perils, however. Unless you hire someone you can assuredly trust, handing the books over to a stranger can be a dangerous move. It is advisable to learn all you can about accounting even if you do intend to let someone else handle the day to day grind. That way, you’ll be able to tell if you’re getting ripped off.
It’s also important to understand that accounting doesn’t stop with facts, figures, and cash flow. It extends to every aspect of your business. Accounting is a part of figuring out trends in your customer’s buying activities. Accounting is a part of finding which of your customer’s buy which products and at which times of the years. Without these numbers, you’re going on instinct, which is never a good thing. The best salesman in the world usually makes the poorest purchasing agent. This is because those down in the field, among the people, usually have the worst ideas about long term buying activity. They might sell one widget in February and another in August and be under the mistaken impression that this is a hot selling item. Proper accounting will tell you the truth in cold numbers.
Accounting has always been, and always will be one of the most important components of a successful business. Neglect its importance at your own peril. Accounting helps keep everything afloat and lets the small business owner know where his capital is, where his profits are, and what the trends show for the future. Without this information, the owner is adrift in a sea, lost without a map. And that is not a recipe for success.
About The Author: Not long ago, I didn't know ANYTHING about Internet marketing... However, within just 2 years, I launched my own website AND learned how to profit from an opt-in list, pull in sales with ezines, make money with Google Adwords and setup my own BLOG! Here's how: http://www.cashflowinternet.com
NOTE: You have full permission to reprint this article within your website or newsletter as long as you leave the article fully intact and include the "About The Author" resource box. Thanks! :-)
Article Source: http://EzineArticles.com/?expert=Jeremy_V_Smith
Wednesday, November 21, 2007
Why Managers & Professionals Must Understand Accounting
By Narendra Dewayanto
Whatever your responsibilities are in your business or organization, you need accounting skills to perform at your best. If you are in sales, you learn your product's features and how to show them to buyers. Those features include the cost or value proposition and how it affects your customers' buying decisions.
Marketing managers study how to find and appeal to a product's target groups. Working up price points can mean some detailed cost analysis. Production managers learn how to plan workflow to control costs. Senior managers use financial statements to speak to those outside about their business's prospects. Whatever your management level, you need to know accounting because your decisions will often be determined by "the numbers." That is how managers keep score and are graded.
Every business asks three key questions:
• How much money came in?
• Where did the money go?
• How much money is left?
The answer to each question can come only from the practice known as accounting. Like other practices such as medicine and law, accounting has its own vocabulary. In many ways, accounting is the language of business. You've heard the saying that nothing happens until someone sells something. After that sale, accounting takes over as the basic activity of business.
Many manager and professional confuse bookkeeping and accounting. They think that bookkeeping is accounting. Bookkeeping is the act of recording transactions in the accounting system in accordance with some distinct principles. Accounting is the way we set up the system, the principles behind it, and the ways we check the system to make sure that it is working properly. Accounting ensures that bookkeeping is honest and accurate and, through financial accounting and management accounting, it provides people outside and inside the business the picture they need of where the company's money is.
That is just one thing. You can actually loose many huge opportunities if you can't read reports from an accounting system. Because they will let you do the following things much more easily.
- Find errors from transaction record.
- Plan for the future. When to borrow money and what work to do to improve your business etc.
- Stop fraud and theft. If you know your business and your books, you can find out if people are cheating.
- Make taxes easily. If you have just a checkbook and shoe boxes full of receipts, tax time can be a nightmare. It can actually cost less to keep good books all year than to clean up the mess just for the IRS.
There are many things you can do if you understand accounting. Get yourself some decent accounting references, and reap the benefit from your knowledge.
Among other references, www.accounting4manager.com is specifically intended for manager and professional to help them understanding accounting.
Article Source: http://EzineArticles.com/?expert=Narendra_Dewayanto
Whatever your responsibilities are in your business or organization, you need accounting skills to perform at your best. If you are in sales, you learn your product's features and how to show them to buyers. Those features include the cost or value proposition and how it affects your customers' buying decisions.
Marketing managers study how to find and appeal to a product's target groups. Working up price points can mean some detailed cost analysis. Production managers learn how to plan workflow to control costs. Senior managers use financial statements to speak to those outside about their business's prospects. Whatever your management level, you need to know accounting because your decisions will often be determined by "the numbers." That is how managers keep score and are graded.
Every business asks three key questions:
• How much money came in?
• Where did the money go?
• How much money is left?
The answer to each question can come only from the practice known as accounting. Like other practices such as medicine and law, accounting has its own vocabulary. In many ways, accounting is the language of business. You've heard the saying that nothing happens until someone sells something. After that sale, accounting takes over as the basic activity of business.
Many manager and professional confuse bookkeeping and accounting. They think that bookkeeping is accounting. Bookkeeping is the act of recording transactions in the accounting system in accordance with some distinct principles. Accounting is the way we set up the system, the principles behind it, and the ways we check the system to make sure that it is working properly. Accounting ensures that bookkeeping is honest and accurate and, through financial accounting and management accounting, it provides people outside and inside the business the picture they need of where the company's money is.
That is just one thing. You can actually loose many huge opportunities if you can't read reports from an accounting system. Because they will let you do the following things much more easily.
- Find errors from transaction record.
- Plan for the future. When to borrow money and what work to do to improve your business etc.
- Stop fraud and theft. If you know your business and your books, you can find out if people are cheating.
- Make taxes easily. If you have just a checkbook and shoe boxes full of receipts, tax time can be a nightmare. It can actually cost less to keep good books all year than to clean up the mess just for the IRS.
There are many things you can do if you understand accounting. Get yourself some decent accounting references, and reap the benefit from your knowledge.
Among other references, www.accounting4manager.com is specifically intended for manager and professional to help them understanding accounting.
Article Source: http://EzineArticles.com/?expert=Narendra_Dewayanto
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