I budgeted one day to get my QuickBooks in order prior to my tax meeting with the business accountant next week. Keep in mind that I haven't been updating the books since...oh...September...when the business hit it's usual Q3 & Q4 frenzy. I mean I have all the paperwork...in a giant pile on the disaster known as my desk (which has also managed to creep onto our dining room table as well because who really wants to sit in a basement all day working on QuickBooks). So yeah, I budgeted one day. And tomorrow will be Day 3.
The accountant meeting is first thing Monday morning so it's either get everything finished up and reconciled tomorrow or it's going to be a long weekend of accounting fun (gee - reminds me of my first quarter at business school when I'd fly to NYC to visit my now-husband and he'd basically spend all weekend trying to explain accounting 101 to me).
From what I've been able to tell thus far bookable sales last year were up over 2008. Not by much but given the economy I'll take it. I say "bookable" because I'm following a cash accounting method which means I don't actually input the revenue until the check comes in. That means all those BIG holiday orders are technically going to be booked at 2010 revenue (though the BIG 2008 order was booked into this year). Tomorrow is when I get a lot of the expenses in so I'll have a better picture of the lay of the land after that. Too bad I can't just leave it as is right now - all sales and no expenses.
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1 comment:
Ugh, talking about budgeting! There are certain points in accounting we can't seem to follow easily. You're lucky your husband teaches you some skills. What cash accounting method are you following? Do you use it with your Quickbooks? Hope all is well in your biz.
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