Wednesday, March 3, 2010

A break from the details

My plan for today was to continue with my explanation of bookkeeping entries but having had my hands in fiber most of the day with no thoughts of bookkeeping interfering the creative process I decided to take a little reprieve.  As I was creating I was wondering how much interest there really is in accounting 101.  If you are keeping good records and have contracted a bookkeeper to prepare your financial statements you don’t really need to know how to handle the daily accounting entries.  Then again, if you are familiar with these entries you will have a better understanding of your financial statements and a better understanding of your business and then be more prepared to make decisions down the road. 

I’m going to age myself here but when I started working on a computer it was DOS based.  Because I worked in DOS I understood what the computer was doing.  It was frightful for me to start working in a windows based environment.  Nothing made sense anymore.  I hated it but there was no turning back.  I’m now thankful that I have the DOS background because when something goes wrong I have a better idea about how to fix it. 

So, Accounting 101 it is, tomorrow…

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