I got serious about our accounting last year and bought a copy of QuickBooks. It sat on the shelf until January 2008 when I knew we had to start using it or admit defeat.
We’ve been using the program since early January and have already noticed the benefits. Besides the obvious advantage of having built-in stuff forms like invoices and packing slips, the program also lets me keep track of our expenses for things like material costs, labor, advertising and shipping.
But it’s not the timesaver I was expecting, mostly because I’ve found all sorts of things I want to track now that I have the data. And someone has to enter all those receipts into the program in the first place.
Before, I just handed a big box to my accountant and said, “here’s my expenses.” But now, as we get bigger and sell a bunch more quilted cot covers every day, I need to better track our costs to make appropriate purchasing decisions.
And I need to know how much labor is costing me, so I can decide how much to involve myself in production (right now, I need to extricate myself from it, so I can focus on marketing and new product design).
So I’ve contracted a young man with nimble fingers and an even more-nimble mind to get all my expenses into the program so I can do some real number crunching.
On a pleasant note, I discovered that my online banking software will download my statements to QuickBooks format so I can skip a lot of the re-typing and get down to coding the debits and deposits in short order.
Way to go, Tim’s bank!
April 23, 2008 at 10:09 am
Glad to see you are using the Quickbooks Tim.
You are getting more with the program every day.
Well, with the exception of being a Ron Paul supporter, that is. But let’s hope you’ll be a good foot soldier and cast your vote for Mr. McCain come November.
April 23, 2008 at 10:44 am
Tim, you are lucky you have to have the assistance on the data entry. You’ll be able to get some good reporting, depending on how far you go back.
Over the years, Quick Books has integrated email, inventory, and electronic shipping options that have been real time savers for our company. As our relationship with the accountant develops, it’s simplified financials and tax filing. Don’t forget to backup!
April 23, 2008 at 11:24 am
Jose:
I’ve never been a big fan of “getting with the program” as the phrase suggests that everyone else has it all figured out and that there’s some easy program to follow. In fact, the best business decisions are often the ones that defy conventional wisdom, although better accounting certainly doesn’t qualify as defiance.
As for being a Ron Paul supporter, you should know that my political support does not stem from personality (Mr. Paul is quirky at best) but from policy. I could have supported any of the other Republican or Democratic candidates had they found sensible answers to the current amount of gross overspending that our government continues to fund in defiance of a little document called The Constitution.
I happen to be a fan of rules, since they help us live together peacefully. When we don’t follow the rules already agreed upon, we mess up things like Social Security, Medicare, war and the like.
Had we followed proper procedure and declared war on Iraq (as the congress is required to do by the Constitution) we could have removed ourselves already, regardless of the desires of a belicose president.
But it’s hard to argue whether we should even be at war when we find ourselves in a situation that was never properly instigated in the first place.
Will I vote for John McCain? I don’t know. He’s pretty liberal with my money and believes that the federal government has the right to do a lot more than is provided for in the Constitution. He has, at least, pushed against earmarks and asked for spending cuts, but will it be enough, especially since there’s already a Democratic House and Senate majority?
And I can’t be a “good foot soldier” without changing my policy opinions. Today’s Republican party can’t even get behind an end to earmarks and a stop to spending (since they spent like drunken sailors all through the 90’s and early 00’s). Why would I be a footsoldier for a group of warmongering morality police who won’t follow the Constitution and can’t keep their hands out of my pocket?
So I’m stuck. Since neither Democratic candidate offers much different (I still don’t understand how John McCain isn’t an old white version of Obama, in both policy and “change” agendas), I don’t know who I’ll vote for.
Maybe I can write in a sensible person. Or maybe I’ll watch from the sidelines.
I haven’t decided yet.
April 23, 2008 at 12:35 pm
Tim,
I’m thrilled you are giving up being the only one that can do certain things, and then not having the time (or interest) in doing those things 100%. We should all do the things we are best at and have others do the same.
Congratulations on doing what’s best for you and Final Embrace!!!
Love,
Mom
Robin Richter
April 23, 2008 at 1:14 pm
John McCain, at least, is against a bailout of the idiots who bought homes they cannot afford.
Obama and HIllary just want to give all our money away sir!
I will look forward to more of your valuable tips pertaining to funeral service and will overlook your support of Mr. Paul, a shady character indeed, and as you note – very rightly – a very quirky fellow.
I, for one, do not trust him.
But you are absolutely right – the pool of candidates DOES leave something to be desired sir!
April 24, 2008 at 6:53 pm
Way to go with useing QB! I know that the one FH I do work for just loves it. Our business wrote our own customized “QB”, but sometimes I wonder if it wouldn’t have been easier just to use QB! It sure does help with tracking and better knowing where and why the money goes out!
Spencer