Back in February, we met with our accountant to get our business taxes prepped. After discussing all the numbers and after my numerous questions, he advised me to take a basic accounting class so I can better understand the numbers and how they flow through the reports and documents of our business. And so, because I do as I'm told, I enrolled in an online basic accounting course.
It's a bit challenging, since it's teaching me how to do everything the long, handwritten ledger way. I'm so grateful for modern accounting software that allows us to enter data and let the software do all the correct debiting and crediting of accounts behind the scenes. I've also read several books from the library on accounting and bookkeeping, which has been helpful. Double-entry accounting is not necessarily simple, nor does it make much sense without practicing it over and over. Probably the most challenging thing is that accounting terms are NOT what we're used to in our daily lives--credits and debits are the opposite in banking language. That has thrown my mind for a loop more than once!
My next stack of books to study is about QuickBooks. We are preparing to switch our current software over to QuickBooks, so I'm trying to familiarize myself with that program. I don't think it will be terribly different from what we currently use, but any global change like this in a company is difficult and tedious. Especially when customers still want to purchase items and be serviced, bills still need to be paid, employees still want their paychecks, etc, etc.
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