Tuesday, December 11, 2007

The Accounting software wreck solution

Is Quickbooks and other accounting software packages a lie ?

Did you purchase Quickbooks with the the expectation that when you had finished entering your data you would have useful financial reports? Now, tell me if you do not have useful, accurate financial reports is that because you were misled? Of course you were as were many others.

Now if your free bookkeeping software did not cost you a penny where you any less misled? No!

Make no mistake, that makes me just as guilty as those who sold you software that would not get you the end result you were expecting.

So that's why I am going to give you the reason why your accounting software is probably producing a flawed product that has no use.

Accounting Software Error #1

Are all deposits the same? Not at all. Some deposits are liabilities and equity others are income. If you do not classify these deposits correctly your Income Statement will be wrong and useless.

Accounting Software Error #2

Are all checks the same? Not at all. Some checks are not an expense but rather a reduction of a debt . If you are paying down loans and classifying it like any other expense your income statement will be wrong.

Who should fix these errors?

You probably would not do your own brain surgery or plumbing. These are jobs we all understand are better off left to a an experienced professional. Your accounting is not any different. So I strongly recommend that you call me at (866) 559-6434 or visit my website at http://www.cpabookkeepers.com/

Tuesday, November 13, 2007

One plus one equals ?

There is an old joke about a business owner that is interviewing accounting candidates for a job. Each one is asked the same question, "How much is one one plus one" and then dismissed when they answer two. Finally one person was hired. His answer was different.

What do you want it to be ?

Yes some accountants can make numbers appear as they want it to be. Most people are not comfortable with that approach. Truth be told there are legitimate ways to portray financial statements differently than tax returns.

The other way that one plus one does not equal two is when there is collaboration. The collective efforts of two people working together is much more than the sum of their individual efforts.

There are some excellent free tools on the Internet that are collaborative. Google Docs is a free service that allows more than one user to work at the same time on the same document or spreadsheet. Though the early reviews were not that great, quietly Google has been improving this product.

Another free product that is collaborative is the free accounting software available at :

What is great about this accounting package is you can collaborate with me. Please feel free to contact me via email cpa@post.com or chat on my website http://www.cpabookkeepers.com/ or call me toll free (866) 559-6434

The important thing to remember is that when we are open to work with others the potential for our growth is exponential. So no matter what it is that you are doing today, especially if progress is slow consider how you can avail the use of others to accelerate progress.

Sunday, February 18, 2007

Yes I am proud to be an American

And I am even more proud to field a question for someone willing to stake their life for me. As I am sure everyone feels whether they agree or not about wether we should be in Iraq. So I was happy to answer the following question today:

I served in Iraq for the year of 2006. I recently received my W2 from the U S Government Military and Box 1 has the wrong amount. They said I earned $ ***** however my SSwages Box 2 shows $ ****** . How can I get a corrected W-2 from the Military as soon as possible?
(actual numbers left out for privacy issues)

So my answer was that his W2 was correct ! The reason why his gross wages were drastically less than his social security wages is that "combat pay" is not taxable. I also refered him to an excellent article on how to maximize the benefits of combat pay.

This question came to me because of a resource that you can find on my website that helps you out in case you have lost your W2 form.