Small Business Financing Software

Charles asks…

What’s a good finance/accounting software?

I have a small ebay business with one of my friends. About half of the items that sell we split the profits on. The rest I keep all the profits myself. What’s a software I can use to calculate his profits for each month. I: would need to be able to factor in shipping and packaging costs and also subtract all ebay fees.

admin answers:

Quickbooks Simple Start

James asks…

What do you think is the greatest invention created by mankind?

all human beings collectively; the human race;
Humanity here on planet earth.
family,friends,Arts and Humanities,Business and Finance,cars and transportation,
Computers and Internet,networking the transference of wealth,
hardware your brain,smart-phone-computer,insurance,taxes,small business,
avatar,Consumer Electronics,Cameras,satellites,the eye in the sky,
music,Vietnam outsourcing,Communications satellite – Natural satellite – Satellite television – Satellite phone, land line,etc.

admin answers:

Electricity – without that then planes electronics or anything would have been achieved without power still be in candles and dark..

George asks…

accouting help for small business?

i’m about to open a pizzeria and i am gonna keep track of the finances so i wanna know if i have to record every single transaction in this case every single pizza slice i sell? I know there’s quickbooks or peachtree but tell me how to accomplish that with or without the software. thank you

admin answers:

Well, that scenario is generally handled by having a cash register. The register will record all your transactions, i.e. Dollars coming in and change given out. At the end of each business day, you reconcile your cash register tape with actual cash in the till. (To see if your till is ‘over’ or ‘short’.) You then would enter the day’s sales figure into your accounting records, as well as any overage or shortage. You DON’T need to enter every single individual slice of pizza sale into your books.

A typical journal entry for a sample day would be (in this example. I’m just making up that your sales for the day were $300, but your till only has $297 in it) :

Debit ‘Cash’ $ 297
Debit ‘Cash Over or Short’ $ 3 . . [an expense account used for this purpose]
Credit ‘Sales’ $ 300 . . . . . . . . . . [a revenue account on your income statement]

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