Difference between revisions of "User:EloiseHolleran"

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After your graduation in college, perhaps the next best thing for you to do is to look for the right temporary job agencies that offer bigger compensation and are contracting with huge multinational businesses especially those that belong to Fortune 500 companies. So when the temporary job that you are holding will be offered for a fulltime position, you will be ready to accept it and you will be luckier than the others.<br><br>Almost all jobs nowadays are being offered on a temporary bases. Both skilled and professional workers have trooped to different temporary agencies in search for available positions. Medical professionals like doctors, nurses, and laboratory specialists are just some of the those seek employment from temporary job agencies. Even the professionals from the accounting, banking, and finance world have not escaped from this trend. In fact temporary accounting job are being offered by various temp agencies.<br><br>Many agencies in the U.S. are offering temporary accounting job for both licensed and non-licensed accountants. The licensed accountant will handle the bulk of auditing concerns of both big and small businesses while those that are yet to get their license have to settle with preparing the tax concerns of businesses come tax season.<br><br>With the stiff competition in searching for accounting job many have settled for the available temporary positions. However, hundreds of accountants have earned big bucks from project outsourcing or from temporary job services because truly temporary accounting job is one of the most promising careers in the U.S. today.<br><br>Accounting specialists and fresh graduates should lose hope because according to a recent survey by a group of market experts and academicians accounting profession belongs to the top five highest paid and one of the most needed services in the U.S. today. The U.S. Department of Labor alone have projected a 10-20% increase of demand for accounting services until 2010.<br><br>With the emergence of outsourcing more companies are now offering temporary accounting job. Today, accounting professionals can even work with multiple assignments. The availability of internet in the residential applications has made these accounting professionals to even work at the comfort of their own homes.<br><br>With the popularity of project outsourcing many professionals still opt the temporary jobs offered by the temp agencies. Probably one of the reasons for this is that some temps are enjoying job benefits, which they cannot get from project outsourcing basis. Many preferred with getting jobs from temp agencies hoping that they will become permanent employees to the organization to which they are assigned.<br>Perhaps many accounting professionals have become successful of holding a permanent position from just being mere temps. Temporary accounting job should not be taken fro granted because it might just bring you the luck that you have been waiting for.
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A small business accounting program should accomplish three tasks: track income and expenses, generate business forms, and keep detailed records for other assets and liabilities.<br>Tracking Income and Expenses<br>The task of tracking a business’s income and expense is really the most important job of an accounting system. If you own or manage a small business, obviously, you need some tool for measuring your income and your cash flow.<br>Although checkbook programs like Quicken and Microsoft Money does little more than keep a checkbook, you can actually keep financial records for a business right out of a checkbook. To do this, you simply categorize deposits as falling into some income category. And when you write a check or make some other withdrawal, you categorize expenses as falling into some expense category.<br>One problem with using a checkbook program, however, is that by using a checkbook program, you are implicitly using cash-basis accounting to track your income and expenses. Cash-basis accounting counts income when you receive a deposit and counts expense when you write a check.<br>Cash-basis accounting is easy to understand, and that means you are less likely to make errors in implementing it. However, cash-basis accounting is generally too imprecise for more complicated businesses. If you use inventory in your business, for example, cash-basis accounting isn’t very accurate—and the Internal Revenue Service does not allow it.<br>And there are other circumstances, too, in which cash-basis accounting produces serious and usually unacceptable errors in precision. For example, if you often receive money before you have actually earned it or if you often incur expenses long before you actually have to pay for them, you need to use a more sophisticated accounting program than a checkbook program.<br>Generating Business Forms<br>The second task that a small business accounting program should help you with is the generation of business forms. The most common business form is simply a check. Any checkbook program help you do this. Other business forms that small businesses commonly need to produce include invoices, credit memos, monthly statements, purchase orders, and so forth.<br>If you have a small business with very simple form requirements—perhaps you need only checks—then a checkbook program may work very well for you.<br>However, if you have extensive or complicated business form generation requirements, a more full-featured small business accounting package, such as Intuit’s QuickBooks, Peachtree’s Complete Accounting, or Microsoft Small Business Accounting will do a better job for you.<br>If you produce more complicated forms, but you produce these other forms with a word processing program, then a checkbook program may still work for you.<br>Detailed Record Keeping for Other Assets and Liabilities<br>The third task that a small business accounting program should help you with is detailed record keeping of your most important assets and liabilities. A checkbook program lets you keep good detailed records of cash, and for some businesses that is the principal asset. But many small businesses have other significant assets and liabilities they need to track, for example, accounts receivables, inventory, and vendor payables.<br>Whether or not a particular software program’s accounting tools provide adequate asset and liability record keeping depends on the situation. However, no small business accounting program does everything you need it to do. Any accounting program that provides an extensive list of features, by its very nature, becomes a challenge to use. For example, moving to the accrual basis of accounting adds an entire layer of complexity to financial record keeping, and keeping detailed records of inventory adds another layer.<br>For these reasons, even when a particular program doesn’t do everything you need it to do, your best choice still may be to use the program—and then simply live with its shortcomings.

Revision as of 01:30, 8 December 2017

A small business accounting program should accomplish three tasks: track income and expenses, generate business forms, and keep detailed records for other assets and liabilities.
Tracking Income and Expenses
The task of tracking a business’s income and expense is really the most important job of an accounting system. If you own or manage a small business, obviously, you need some tool for measuring your income and your cash flow.
Although checkbook programs like Quicken and Microsoft Money does little more than keep a checkbook, you can actually keep financial records for a business right out of a checkbook. To do this, you simply categorize deposits as falling into some income category. And when you write a check or make some other withdrawal, you categorize expenses as falling into some expense category.
One problem with using a checkbook program, however, is that by using a checkbook program, you are implicitly using cash-basis accounting to track your income and expenses. Cash-basis accounting counts income when you receive a deposit and counts expense when you write a check.
Cash-basis accounting is easy to understand, and that means you are less likely to make errors in implementing it. However, cash-basis accounting is generally too imprecise for more complicated businesses. If you use inventory in your business, for example, cash-basis accounting isn’t very accurate—and the Internal Revenue Service does not allow it.
And there are other circumstances, too, in which cash-basis accounting produces serious and usually unacceptable errors in precision. For example, if you often receive money before you have actually earned it or if you often incur expenses long before you actually have to pay for them, you need to use a more sophisticated accounting program than a checkbook program.
Generating Business Forms
The second task that a small business accounting program should help you with is the generation of business forms. The most common business form is simply a check. Any checkbook program help you do this. Other business forms that small businesses commonly need to produce include invoices, credit memos, monthly statements, purchase orders, and so forth.
If you have a small business with very simple form requirements—perhaps you need only checks—then a checkbook program may work very well for you.
However, if you have extensive or complicated business form generation requirements, a more full-featured small business accounting package, such as Intuit’s QuickBooks, Peachtree’s Complete Accounting, or Microsoft Small Business Accounting will do a better job for you.
If you produce more complicated forms, but you produce these other forms with a word processing program, then a checkbook program may still work for you.
Detailed Record Keeping for Other Assets and Liabilities
The third task that a small business accounting program should help you with is detailed record keeping of your most important assets and liabilities. A checkbook program lets you keep good detailed records of cash, and for some businesses that is the principal asset. But many small businesses have other significant assets and liabilities they need to track, for example, accounts receivables, inventory, and vendor payables.
Whether or not a particular software program’s accounting tools provide adequate asset and liability record keeping depends on the situation. However, no small business accounting program does everything you need it to do. Any accounting program that provides an extensive list of features, by its very nature, becomes a challenge to use. For example, moving to the accrual basis of accounting adds an entire layer of complexity to financial record keeping, and keeping detailed records of inventory adds another layer.
For these reasons, even when a particular program doesn’t do everything you need it to do, your best choice still may be to use the program—and then simply live with its shortcomings.