…What is Accounting Set-up?

The Set-up of your Accounting establishes the foundation for the way your daily transactions are handled and how your financial reports will be structured.

Set-up has four parts:

Type of Access, Company File, Chart of Accounts & Beginning Balances.

  • Access: We have three ways to set-up access to your accounting record:

Type:                                   Access:                 Responsibility:

QuickBooks Pro Download    Full/Shared           Client

QB Online                            Full/Shared           Client

PAS QB 2010*                       Limited                 PAS

*This is by far the best choice for small businesses because it is free and it gives you access to what you really need:  the monthly Financial Statements.  The online option can provide good flexibility, but keep two things in mind:

1.  Simple Start does not allow Segmenting of your Financial Statements (the ability to produce separate Income Statements if you have more than 1 business segment)

2. The Cost of QuickBooks Plus online for a year is currently almost twice the cost of downloading QuickBooks Pro.

  • Company File:  We set-up your company file on QuickBooks, setting the preferences for your accounting, such as online banking, credit cards, sales invoicing, cash or accrual basis and check printing
  • Chart of Accounts:  We establish the list of accounts specific to your business from a pre-set list of company types or build it from scratch.
  • Beginning Balances: We enter the balances for your key balance sheet accounts such as checking, customer receivables, original vehicle costs, vendor payables & loans.

…How is it important to your business?

How you set-up the accounting for a business dramatically impacts the way QuickBooks or any other accounting systems handles your transaction which in turn, effects the accuracy and readability of your financial statements.

…Why is Profitable Accounting the right choice for your business?

- Over 5 years of education in Accounting

- Over 9 years of job experience in Accounting

- Over 3 years of job experience working as a temporary in various industries

- Over 21 years of leadership experience in Indiana National Guard

- Experience managing millions of dollars in Government equipment

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