Gary Bode,CPA: QuickBooks is our specialty! (910) 840-3858.
Gary was an online QuickBooks and Computerized Accounting Instructor for Baker College, in Michigan. This familiarity with Quick Books, and his desire to turn your accounting and financial data into useful managerial tools, make him the perfect choice to set up QuickBooksfor you. And, to help train the staff. With our virtual office, your Company’s location isn’t usually an issue.
“I’ve worked with every QuickBooks version for over 15 years: from Basic to Enterprise and Online, and in almost all types of companies.” Gary Bode, QuickBooks CPA
QuickBooks Chart of Accounts Setup
Your accounting should do more that just Accounts Payable and Accounts Receivable. Setting up logical accounts to appear in your Financial Statements is crucial to turning your data into managerial tools, that can help guide your company’s future. We utilize QuickBook’s flexibility to create a Chart of Accounts that reflects your business the way you intuitively think about it. We adjust to the way you think.
For example, we often see Insurance as an Income Statement account. It holds the facility’s insurance, Workman’s Comp, vehicle insurance, sometimes health insurance etc. Which is, of course, correct. But isn’t the facility insurance really part of facility cost? Isn’t Workman’s Comp more like an employee cost? And you can’t drive the vehicle without insurance. So, we try to use functional centers:
- Your Facility account has all its associated expenses listed with it. Rent, Utilities and Insurance.
- Your Vehicle account includes Fuel, Repairs and Insurance.
- Your Employee expenses include Health Insurance and Workman’s Comp.
The guideline for establishing an account is 1) how much money you expect to pass through it and 2) whether you can make managerial decisions based on that amount. For example, if you have to sporadically rent a truck for your business, we would suggest tracking those expenses in a Truck Rental QuickBooks sub account. Because you may eventually want to purchase your own truck if the cost of renting warrants it.
Pit Falls in QuickBooks Setup
The same user friendliness that makes QuickBooks the industry leader, is also its greatest downfall. Things can be deleted and duplicated because it doesn’t have the controls other accounting software does.
” I’ve seen clients mess up QuickBooks in very creative ways and have learned how to fix all of them.” Gary Bode ,CPA - QuickBooks Accountant
While we try to prevent you having problems with QuickBooks, isn’t it comforting to know we can fix them?
Please call us for a free initial QuickBooks setup consult at (910) 840-3858.
