How many business owners, running a business right now

[nate_f2]

I know the basics of accounting , credit , debit, assets, liabilities etc but have not taken the college course of practiced it much. So many people skip this learning and just go for the quick books or other accounting programs. How many business owners on this forum have done that? Is it something to stress when your in your startup stages? Are the programs really so simple that people are successful without educating themselves throughly in accounting?

[Ankelz]

For me, trying to reply back to your question just may not be reliable to you, for I am running a Licensed business at the moment, but, I just got everything certified last month, and most people think that I am bound to fail because I am only 18 and obviously have no clue what I am doing. But disregarding that, I am in the same position as you as far as accounting, I have a basic understanding on it, but I didn't let that slow me down. I had to seek help from others who was able to help me, and everything is running perfect so far, I have no problem keeping record of sales and purchases funds, but then again I have always been a "Learn As I Go" type of dude.

I hope that I was able to assist you any way possible, I feel if I could help others run their business, then that will make running mine easier knowledgeably.

[nate_f2]

Thanks for your response. I always learn better when its right in front of me but that does not always give you enough time to react.

[Ankelz]

understood, I really hope that you receive the answer to your question, I am sure I can benefit from it as well.

[GoodfellaEarv]

I've taken a couple accounting courses in college. The basic stuff is really common sense(assets, liabilities etc). I've never used Quickbooks but I imagine that the program makes everything much easier. You really dont need to take an accounting course to learn the basics needed to run a startup.

Now Managerial accounting and things like that are more complicated, but I think most(if not all) owners just hire accountants to take care of that stuff. But a fresh startup shouldnt really have to worry about that until loads of money is coming in.

[KyleXY]

I learn as I went over the years in previous businesses, etc.. Never really took a class for it. Best way is to work with a book keeping firm and have them walk you through what they do. Not only will this help teach you what you need to understand in a much shorter period of time, the cost is relatively about the same and they actually organize your books properly. It's totally worth the money in the end.

[Gaulkin]

Doing your books will not make you more profitable because your not a CPA. Concentrate on driving sales and let the professionals do your books.

[DerekS]

Focus on your startup and don't sweat the minutiae details. As long as your accounting skills are basic enough to balance a checkbook and to make sure you don't overdraw your accounts, you're OK.

I took both managerial and financial accounting in college and learned more just doing, reading online, and watching the bookkeeper at the property management firm that I used to work for. There's no sense learning a bunch of things that you won't apply (which is often the case with accounting classes), when you could be devoting that time to building your business.

[nate_f2]

Thanks for the advice guys, hearing it from the experienced gives me a piece of mind and I can relax a little better. Ill will be moving on to other things.

[Ankelz]

xD they pretty much said what I..... ah nevermind.

[SCJeff]

I know the basics of accounting , credit , debit, assets, liabilities etc but have not taken the college course of practiced it much. So many people skip this learning and just go for the quick books or other accounting programs. How many business owners on this forum have done that? Is it something to stress when your in your startup stages? Are the programs really so simple that people are successful without educating themselves throughly in accounting?

I took Accounting 101 this past semester and it was my first class in accounting. On the first day my professor told the class "if your not going to be a CPA or something similar your really never going to use too much of the information in the class, because realistically in the real world, everyone just uses quickbooks or another program that does most of the figures for you."

[nate_f2]

I would really like to brainstorm with you if you need any help on any ideas! Would love to give my opinions on any new products or ideas

Message me on here

SCJeff Im shooting you a PM

[daneb]

Is your startup financial related? If not, I wouldn't sweat it much. Things will probably develop slow enough where you can learn as you go or get the help you need along the way.




florida web design

[nate_f2]

strictly product and service business.

[bostoncitymass]

Hi,
Get Quickbooks and it will work it's way out. I have been in business for 10 years now and have used Quick books since day 1. At the end of the year your accountant will print out the reports he needs and will do all the heavy lifting. As far as bookkeeping, it's just like using a check register more or less, you just itemize everything so your CPA can get the info he needs. You can use it for your invoicing as well if you need to. One thing I will mention though. You are better off investing in hiring either a book keeping service or maybe someone part time that does book keeping. You don't make money writing out bills. You make money by getting out there and creating sales to pay the bills, lol. Your time as a business owner is better spent generating money than doing things that don't generate money. I made this mistake in the beginning by doing the books myself, what a waste of time and money and energy. If you don't have the funds to hire someone, just do it yourself unti you do, but make sure that getting someone to do the books is one of your first hires, you will be happy you did. Trust me.