Guest guest Posted November 2, 2005 Report Share Posted November 2, 2005 Candy Do yourself a favor and get good accounting software for your in-store computer. Peachtree Accounting and Quickbooks are good ones. They even have versions that can interface with your cash register and get all that data. You can save a few bucks and go to ebay.com and bid on a year old version but go to each website first and thoroughly review the product features. Or, go to the office supply store and read the software boxes there. Look at both. Twenty years ago I had to write my own software as none was available that had the features I needed to track inventory and manage a mail order herb nursery. My General Ledger software came on an 8 inch floppy disc. How things have changed!!!! Hope this helps mjh In a message dated 11/2/2005 9:16:14 PM Eastern Standard Time, writes: Wed, 2 Nov 2005 19:10:41 -0500 " C. Lucas " <clucas Accounting Info needed Hi everyone. I am planning to launch my bath and body shop at the beginning of the New Year, and I was wondering what you folks use for your accounting needs. Since I will just be starting out, I know I won't be able to use a CPA or whatever, at least for a while. I would like to keep my own 'books' to begin with.... I just thought I'd ask here to see what you guys would recommend. I am good with making my soaps and lotions and such, and I am good with almost anything except numbers!!! <ARGH!> Any help will be greatly appreciated. Thanks, Candy ---------- mjh " The Basil Book " http://foxhillfarm.us/FireBasil/ Quote Link to comment Share on other sites More sharing options...
Guest guest Posted November 3, 2005 Report Share Posted November 3, 2005 Hi everyone. I am planning to launch my bath and body shop at the beginning of the New Year, and I was wondering what you folks use for your accounting needs. Since I will just be starting out, I know I won't be able to use a CPA or whatever, at least for a while. I would like to keep my own 'books' to begin with.... I just thought I'd ask here to see what you guys would recommend. I am good with making my soaps and lotions and such, and I am good with almost anything except numbers!!! <ARGH!> Any help will be greatly appreciated. Thanks, Candy ---------- Version: 7.0.338 / Virus Database: 267.12.6/151 - Release 10/28/2005 Quote Link to comment Share on other sites More sharing options...
Guest guest Posted November 3, 2005 Report Share Posted November 3, 2005 I'm lucky that I have a whole family (hubby and mother included) that are accountants and book keepers. We have a tax accountant that files that taxes from the books my mom does for me. I wouldn't even think of doing it on my own! I have too many other plates spinning on sticks *Smile* Chris (list mom) Think left and think right and think low and think high. Oh, the thinks you can think up if only you try! - Dr Seuss <http://www.alittleolfactory.com/> http://www.alittleolfactory.com On Behalf Of C. Lucas Hi everyone. I am planning to launch my bath and body shop at the beginning of the New Year, and I was wondering what you folks use for your accounting needs. Since I will just be starting out, I know I won't be able to use a CPA or whatever, at least for a while. I would like to keep my own 'books' to begin with.... I just thought I'd ask here to see what you guys would recommend. I am good with making my soaps and lotions and such, and I am good with almost anything except numbers!!! <ARGH!> Any help will be greatly appreciated. Thanks, Candy Quote Link to comment Share on other sites More sharing options...
Guest guest Posted November 3, 2005 Report Share Posted November 3, 2005 Hi Candy, While I agree with Butch and Chris about the need to sit down with *someone* and make sure you are keeping track of the right things in the right way, both of them have businesses that I believe are two of largest on this list. If you are going to start out at Butch and Chris' level, then picking a CPA and getting a consultation is probably a good idea. If, however, you are on the dinky side of small business like me, then I'd recommend seeing if there is a SCORE (score.org) or other free small business advisory organization available in your area and talk to one of their counselors about setting up your books and even ask them for referals to tax prepararers. One thing I would not ever do as a small business owner is prepare my own tax forms. I personally go to HR Block, ask for the CPA on duty and go from there. If there is a year-round HR Block in your area, you could probably even get a consultation with them as to how to keep your own books instead of paying for a hoity-toity private CPA ; ) HTH ~Bonnie PS: look list ma, i even trimmed my own post for once!!! Quote Link to comment Share on other sites More sharing options...
Guest guest Posted November 3, 2005 Report Share Posted November 3, 2005 Hey Candy What I did was get a basic accounting book at an office shop. There you write down your credits and your debits... Keep ALL your receipts and set one day of the week to go through and write everything down (unless you're one of them " anal retentives " who are REALLY good at sitting down every day ;-). It's all you really need to start out with. And keep a calculator nearby! My opinion only! K On 11/2/05, C. Lucas <clucas wrote: > > Hi everyone. > > I am planning to launch my bath and body shop at the beginning of the New > Year, and I was wondering what you folks use for your accounting needs. > > -- > Cheers! > Kathleen Petrides > The Woobey Queen > Http://www.woobeyworld.com Quote Link to comment Share on other sites More sharing options...
Guest guest Posted November 3, 2005 Report Share Posted November 3, 2005 > PS: look list ma, i even trimmed my own post for once!!! WELL DONE BONNIE! That's two brownie points fer ya! Not the list mom, just a moderator who gets tired fingers from deleting overflowing posts WHEN she catches them! LOL! K -- Cheers! Kathleen Petrides The Woobey Queen Http://www.woobeyworld.com Quote Link to comment Share on other sites More sharing options...
Guest guest Posted November 3, 2005 Report Share Posted November 3, 2005 Hi Candy, Are you in the US? You can get a great deal of free mentoring and information from your local Small Business Administration, far beyond just accounting and reporting taxes for your business - budgeting, marketing, networking and promotional ideas, how to manage growth, etc., etc. Ask them about the SCORE program to find a retired mentor to help you through the organizational steps and set up a simple accounting system and make sure you have all the licensing required in your state, as well as required insurance. Books are easy to keep, but you will want comprehensive information regarding respective quarterly and year-end tax filing, state, county and federal and to insure that you are able to produce what is needed for reporting. If you are investing in a computer accounting program, which will provide the appropriate double-entry paper trail, be sure to check them all out to make sure you aren't buying a Cadillac when you only need a Dodge (ooops, maybe that's the wrong analogy for accounting :-) - (how about Honda). You CAN keep simple and reportable accounting in a hand entry-ledger, so don't let anyone talk you into expenditures you might not need at this point. Just make sure you understand the basics. Bookkeeping is time consuming if you don't meticulously make daily entries and you end up having to hunt around for invoices, charge slips and sales receipts to enter en masse after letting it go for a while. If you don't understand accounting and tax reporting, look into taking some classes at your local community college . . . CPA's are expensive and rarely speak your language. I've hired accounting firms that have screwed our books worse than I ever imagined, and I am trained in accounting procedures. I think it's dangerous not to know EVERYTHING about your business yourself, especially the finances and accounting. If you can't read and understand the entries and reports, how easy will it be to be duped by a professional who knows you don't' understand? Not that they are all crooks out there, but the ability to verify what someone else is doing with your books is imperative, IMO. Don't forget the SBA - they really provide a wealth of information for free. You can keep going back until you've exhausted all the resources and they never complain. Hope this is helpful. Be well, Marcia Elston, Samara Botane, http://www.wingedseed.com/katrina.htm " First of all, cultivate a contented spirit; a garden is a good place to begin. " ________________________________ On Behalf Of C. Lucas Wednesday, November 02, 2005 4:11 PM Accounting Info needed Hi everyone. I am planning to launch my bath and body shop at the beginning of the New Year, and I was wondering what you folks use for your accounting needs. Since I will just be starting out, I know I won't be able to use a CPA or whatever, at least for a while. I would like to keep my own 'books' to begin with.... I just thought I'd ask here to see what you guys would recommend. I am good with making my soaps and lotions and such, and I am good with almost anything except numbers!!! <ARGH!> Any help will be greatly appreciated. Thanks, Candy ---------- Quote Link to comment Share on other sites More sharing options...
Guest guest Posted November 3, 2005 Report Share Posted November 3, 2005 You could get a simple accounting system like QuickBooks. It works and it is simple. Gayla Roberts Always Enough Ranch Acampo, California Check out our SALE PAGE at www.bouncinghoofs.com/alwaysenoughhobbysale.html A day without Bill Barnhill is like a day without sunshine! goatclearing http://coloredboers.home.att.net/always.html No one ever gets far unless he accomplishes the impossible at least once a day. Elbert Hubbard - " C. Lucas " <clucas Wednesday, November 02, 2005 4:10 PM Accounting Info needed > Hi everyone. > > I am planning to launch my bath and body shop at the beginning of the New > Year, and I was wondering what you folks use for your accounting needs. > > Since I will just be starting out, I know I won't be able to use a CPA or > whatever, at least for a while. I would like to keep my own 'books' to > begin with.... > > I just thought I'd ask here to see what you guys would recommend. > > I am good with making my soaps and lotions and such, and I am good with > almost anything except numbers!!! <ARGH!> > > Any help will be greatly appreciated. > > Thanks, > Candy > ---------- > > > > Version: 7.0.338 / Virus Database: 267.12.6/151 - Release 10/28/2005 > > > Quote Link to comment Share on other sites More sharing options...
Guest guest Posted November 3, 2005 Report Share Posted November 3, 2005 > Don't forget the SBA - they really provide a wealth of information for > free. > You can keep going back until you've exhausted all the resources and they > never complain. > Hope this is helpful. > Be well, > Marcia Elston Marcia, Yes, this info is very helpful. I've looked over the SBA website, and it's all 'greek' to me. LOL I am in the US....Georgia or Jawja as Butch would say. When I said I am terrible with numbers...this isn't far from the truth. As long as I have a calculator, I do alright. I'm really good when those numbers are on paper money. LOL I just have never had to keep any type of books, and I don't even like to balance the checkbook. I usually just stop using the checking account until all the checks have cleared, then I try to make sure my numbers match the banks numbers. I know this isn't a very accurate system, but it works for me. Anyway, I will take a look around the SBA website again, and I will check into SCORE...as several folks have recommended that. I can certainly use all the help I can get. Thanks again, and have a great evening! Candy -- Version: 7.0.338 / Virus Database: 267.12.6/151 - Release 10/28/2005 Quote Link to comment Share on other sites More sharing options...
Guest guest Posted November 3, 2005 Report Share Posted November 3, 2005 Candy As dull and boring as you imagine accounting might be...... and especially with what you'e written below....... it is even more important that you get a grasp on these money mgt issues. THis is one area where ignorance can put you out of business really quick. Check out your local adult education or Community College for a short course on computerized accounting. These places will often offer a four of six week course using either QuickBooks or Peachtree. In my area, these short courses cost about $100.00. Peachtree Accounting is still located near Atlanta, I understand. You do not need their more expensive training course at this point. Avoid check book balancing software like Quiken or MSMoney. This software will cost about the same at real accounting software but may not provide the audit trail CPAs and the IRS find important, nor will it provide the depth you may find helpful. Hope this helps mjh In a message dated 11/3/2005 5:43:11 AM Eastern Standard Time, writes: When I said I am terrible with numbers...this isn't far from the truth. As long as I have a calculator, I do alright. I'm really good when those numbers are on paper money. LOL I just have never had to keep any type of books, and I don't even like to balance the checkbook. I usually just stop using the checking account until all the checks have cleared, then I try to make sure my numbers match the banks numbers. I know this isn't a very accurate system, but it works for me. mjh " The Basil Book " http://foxhillfarm.us/FireBasil/ Quote Link to comment Share on other sites More sharing options...
Guest guest Posted November 3, 2005 Report Share Posted November 3, 2005 Candy and everyone Don't buy software from E-Bay. because most of it is pirated.. If you Ever need to register the Software or need tech support you will have major problems. As to software. for accounting. I'm Biased but Quickbooks is the way to go, you can start with the online version and go from there. http://www.quickbooks.com QB has 86% of the market right now. Peach tree has about 9% and Microsoft Small Business Accounting 3% My new job is Tech support for accountants using quickbooks. Even I can set up a company and do most of the stuff .. it has an awesome help menu to guide you. I'm accounting challenged as well. But take the advice of an accountant. QB has that high of a market share because the accountants themselves reocmmend it to their clients. many will not take you as a client if you are not using quickbooks. Graham Sorenson http://Luna-Aromatics.com Come and stick your nose in our business The Home of " Arizona Balm " the Natural Solution to Problem Dry Skin. Hand Made Soaps, Soy Wax Candles, Lip Balms and more Good Stuff Retail and Wholesale. http://TheGuideToAromatherapy.com Candy Do yourself a favor and get good accounting software for your in-store computer. Peachtree Accounting and Quickbooks are good ones. They even have versions that can interface with your cash register and get all that data. You can save a few bucks and go to ebay.com and bid on a year old version but go to each website first and thoroughly review the product features. Or, go to the office supply store and read the software boxes there. Look at both. Twenty years ago I had to write my own software as none was available that had the features I needed to track inventory and manage a mail order herb nursery. My General Ledger software came on an 8 inch floppy disc. How things have changed!!!! Hope this helps mjh Hi everyone. I am planning to launch my bath and body shop at the beginning of the New Year, and I was wondering what you folks use for your accounting needs. Since I will just be starting out, I know I won't be able to use a CPA or whatever, at least for a while. I would like to keep my own 'books' to begin with.... I just thought I'd ask here to see what you guys would recommend. I am good with making my soaps and lotions and such, and I am good with almost anything except numbers!!! <ARGH!> Any help will be greatly appreciated. Thanks, Candy ---------- Quote Link to comment Share on other sites More sharing options...
Guest guest Posted November 3, 2005 Report Share Posted November 3, 2005 as a P.S to my other message. Perhaps you can look into getting a bookkeeper to do your books who can set up your accounting books/software. they are much cheaper than using an accountant. (And an accountant firm would have a bookkeeper do your books anyway and just check the reports., so negotiate with a person who does bookkeeping and pey their rates rahter than pay an accounting firms rates). Most bookkeepers know much more about real acccounting for businesses than do accountants. One thing I would really advise is start off using a good software package right away ,then you will not have to spend many hours entering your accounts, when you do get the software later in the life of your business. Graham Sorenson http://Luna-Aromatics.com Come and stick your nose in our business The Home of " Arizona Balm " the Natural Solution to Problem Dry Skin. Hand Made Soaps, Soy Wax Candles, Lip Balms and more Good Stuff Retail and Wholesale. http://TheGuideToAromatherapy.com Hi everyone. I am planning to launch my bath and body shop at the beginning of the New Year, and I was wondering what you folks use for your accounting needs. Since I will just be starting out, I know I won't be able to use a CPA or whatever, at least for a while. I would like to keep my own 'books' to begin with.... I just thought I'd ask here to see what you guys would recommend. I am good with making my soaps and lotions and such, and I am good with almost anything except numbers!!! <ARGH!> Any help will be greatly appreciated. Thanks, Candy Quote Link to comment Share on other sites More sharing options...
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