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Thumb of Michigan | First of all, there are many posters on NAT who I always read right away and really appreciate their responses and ideas.
When it comes to QB, Flagship is my "go to" have to read the response right away person. Always excellant input. Thanks!
Been using QB for a long time, can't remember which version I first used. No matter, but when it came to setting up accounts, I used the same accounts and numbers I'd used on my previous software. Think it was called Moneycounts or something like that. I've been through a couple CPA's and firms, no one has seemed to have many issues with my accounts.
BUT- I also have to be kind of a dink and remind them sometimes that I'm using the software to run a business, not necessarily using it to make their job easier. And, if it does cause extra work for them, lets discuss what changes need to be made. I'm willing to have a bigger bill with them if it means I'm able to better run my business. First and foremost, my need to get the right info to run my business daily trumps the need to modify everything for tax time only.
When I first starting using Moneycounts, I had a "dummy" company set up. I could screw around with different things and could track the results. If I had something I wanted to try and it caused a mess or an unintended consequence, no harm, no foul. I've done the same thing with QB in the past. When my Daughter set her QB up, I suggested she do the same thing. Its not as big a waste of time as it seems, especially if it prevents you from screwing up the real company.
As far as co mingling business and personal stuff- I don't do it. I used to. It caused me head aches and I don't like headaches. I used to use "other" accounts to differentiate, but that can be problematic. Now, I have a Business company and a personal company. Far as that goes, I have 8 different and unique real live companies in QB at the moment. I do need to bring 6 of them back together when it comes time to do my balance sheet and net worth statement. There is software available that does that for you, but to be honest I found it hard to use and I just didn't care for it. I've built my own spreadsheet that I simply add my numbers into, its worked fine for what I need. I don't need to do it very often- maybe twice a year at the most- but again its not been a huge problem for me. It is a work in progress, but I feel like I'm close to sticking a fork into it. | |
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quickbooks accounts setup? help.
