When I was a college student, I got an ‘A’ in my Accounting 101 and 201 classes. Then I entered the “real” world and almost SUNK the family business because I had no idea what I was doing with the “real” accounting. You see, the examples in the college text book used financials that were correct. That means, the dollar amounts in the accounts could be trusted, and were assumed current and accurate.

The “Real” World…

Well, when I took a swing at entering my accounting data I made a big “Slinky knot” mess out of my Peachtree accounting file. Ooops. I didn’t learn how to FIX my accounting in college. That would have been useful! I learned what I know from falling in holes and climbing out of them.

As a business consultant, I see lots of financial reports. Most of them have a few “Slinky knots” in them…accounts that are just wrong. The data in those accounts are the result of mistakes in data entry. In my consulting work, I start by helping my clients get to KFP – a KNOWN Financial Position. Let’s get the accounting correct. That’s the first step. From there, we can see the impact of operational, marketing and sales behaviors. The good news is that you can always improve your financial situation once you know what it is. I am kind of like Super Nanny. I show up, we work together to clean up the accounting and we put simple systems, routines in place to help you stay at a KFP.

Sometimes, we clean stuff up and then it gets messy again. Just like Super Nanny, I go away after my consulting visit. It is up to my clients to maintain the systems we put in place. I can always come back and I often help over the phone. However, the key to staying at KFP is your willingness to learn enough about the accounting systems to enter data properly and to fix things when they get balled up.

If you are the owner of a very small shop, you might be the Financial Manager of your company (as well as the Service Manager and Marketing Manager and Salesperson, etc.) That’s the way it goes. If you dream of being a bigger shop, take heart that every big company was once just your size. The way out…is through. Take responsibility and do a good job as the Financial Manager. Quit looking for a magical solution (accounting fairy?) who will handle the accounting for you. Learn how to do it yourself and document your basic procedures. This will help you hand off the accounting duties successfully.

In larger shops, sometimes the accounting duties get handed to…

• The Financial Manager

• The Office Manager

• The owner’s wife, mom, daughter (other relative)

• The Bookkeeper

• The Secretary

• The “Girl in the Office”

Whatever YOUR title, if you are the one who is responsible for the financial information at your company, I am here to help you. The following are a few tips and tricks for finding and fixing the “Slinky knot” messes in your accounting program.

Financial Fix Tips and Tricks…

• It’s probably YOU. I often hear something along these lines, “That number wasn’t there yesterday. It must be a QuickBooks problem.” That weird dollar amount in your financial reports probably has a very simple explanation. Somebody, maybe you, entered that information. In every accounting software program, there are debits and credits. Sometimes the debits and credits are not visible from the data entry screen. You will have to do some digging. Follow the flow of information from the entry point to the Income Statement (aka Profit & Loss or P&L) and/or Balance Sheet. (In my lengthy career, there have been only 2 cases where the accounting program was corrupt. Chances are…YOU are the problem. J Start trouble-shooting from that assumption.)

• Stay current with your financial reporting. I recommend a WEEKLY review of the Balance Sheet and Income Statement. Some contractors I know get daily reports. That’s great! Once a year at tax time is just not going to cut it. Get to KFP and run the financial reports at least once a week. It is so much easier to find and fix a mistake that happened in the last few days than trying to track down something goofy from six months ago. Also, you can fix the mistake in the current month. That is better than having to re-open a previous month and adjust it. Once I “close” a month, I don’t like to open it again.

• Go line by line down the Balance Sheet and Income Statement and look for “weird” things. If you are just getting started with this process, I can help. Or, your accountant may help you learn what’s “weird” and what’s right. What a great opportunity for him or her to add value to your relationship. KFP means that every account is RIGHT. It reflects what you have in Assets, what you owe in Liabilities and what you own in Equity. The Sales account should equal what you have sold for that period of time. The Expenses should reflect what you have expensed for that period of time. The financial reports should be current and true. Here’s a list of “weird” things that may need some fixing…

o A dollar amount that is positive when it was negative last time (or vice versa.)

o A negative Asset. (Unless it is Accumulated Depreciation or Amortization. Those numbers are “contra” accounts and serve to reduce the value of the associated assets.)

o A negative Liability.

§ Pay particular attention to your Payroll liabilities. I recommend using a Payroll service like ADP or Paychex. The number one reason: The service handles the liability so you don’t have to. The service will tell you what the cash requirements are to pay your team and Uncle Sam. They will do the tax payments for you. The Journal Entry to enter Payroll is much easier if you don’t have to keep track of the appropriate liabilities and payments. I attached a sample JE for entering Payroll. Follow the flow of debits and credits. You could create a sample transaction for your Payroll procedure and reference it every time you enter Payroll.

o A negative Sales account (unless it is the Customer Refunds or Discounts…contra accounts.)

o A negative Expense account. Now, an account may look weird but be right. For instance, if you enter a rebate for your Insurance it will show up as a negative expense for that month. Drill down and make sure.

o An account that is very different from last week or last month. If all of a sudden your Advertising expense went from about ,500 per month to 0,000 this month, drill down. Something may have been miscoded.

o Have your accountant help you make the weird things right with an appropriate Journal Entry or reversing entry.

o Find out how it got weird, if you can, and update the data entry procedure. Written procedures are KEY to staying at KFP.

o If you don’t know how it got weird, at least get it to right. If it is a small dollar amount, create an adjusting entry and watch to make sure it doesn’t get weird again. If it does…look through the previous week’s transactions for that account to find the entry. This is forensic accounting!

o If you do this once a week, YOU will get intimately familiar with the accounts and the dollar amounts. You will become an expert in what looks right and what looks “weird” and how to fix the weird stuff.

• Run a transaction register report and look for the debits and credits. Different accounting programs call this report by different names. Look for the detail trial balance or the General Ledger journal to find the “guts” of every transaction. Double entry accounting is based on the universal law of “what goes around comes around.” If something goes up, something else goes up or goes down by that amount. Debits and credits are the mechanics in the accounting system that cause the dollar amounts to go up and down…and the Balance Sheet to stay in balance. There are debits and credits behind every data entry screen. You can also affect accounts directly by creating a Journal Entry. I attached a “cheat sheet” of Debit and Credit rules. I reference this several times a week.

• Look for before-and-after differences. If you are not sure of what is happening at a particular data entry point, try this:

o Run the Balance Sheet and Income Statement.

o Enter ONE transaction. Run the Balance Sheet and Income Statement again and see if you can see where the dollar amounts ended up. (Make sure no one else is in the accounting system while you do this.)

o This is a street smart way to discover the “set up” behind the data entry screen.

• To recode, delete or reverse a transaction? It depends on your accounting program. With a basic off-the-shelf program like QuickBooks, MYOB or Peachtree, you can drill down to the transaction that needs to be fixed and recode it. Or, you can delete the transaction entirely and try again. With a more sophisticated industry-specific program like Successware, Ergos, etc. you may have to enter a transaction that reverses your original transaction and then re-enter the transaction properly.

• Be careful with your initial company set up. That’s where a lot of the behind the scenes accounting is created. If you are entering Service Sales and the dollar amount is showing up as Service Agreement Sales there may be an “item” or other set up instruction that is sending the information to the wrong sales account. Go to Company Set Up or the Items list and do some investigating. Figure out the default debits and credits and which accounts are affected. Update the “set up” and see if that fixes the problem.

• Get bossy with your software support team. Call for help as you need it. If you don’t understand what they are telling you to do, ask again for a clearer explanation. If they want to fix something for you, sit in as they do the correction so you can “follow the flow” of the debits and credits and learn from the experience. The more you know about your particular accounting software the less intimidated you will be by the accounting processes.

• Be assertive with your CPA or tax preparer. At the end of each quarter, take the time to make sure that your financials agree with the financial information your CPA is sending to Uncle Sam. Work together to enter the year-end Journal Entries needed to bring your accounting system up to accurate.

• Learn to trust your intuition. As your understanding of double entry accounting increases, trust your gut feeling that a dollar amount is wrong or “weird.” So often, I help someone fix a “Slinky knot” and they respond, “I thought that might be the problem!” If you have that thought, follow it and see what you uncover.

If it is your responsibility to get the financial “Slinky knot” untangled, take a deep breath and know this: You can do it. You may need some help. Contact me if you feel overwhelmed and we’ll set up a time to visit on the phone. This accounting stuff is just not that hard once you learn the lingo and accounting basics. One of the smartest Financial Managers I know is working with an 8th grade education.

Once you get a handle on them, you can delegate the accounting tasks. It is a blessing to have done the accounting yourself because you will never be held hostage by your bookkeeper (or “girl in the office.”) You can coach someone to be even better than you were at the basic accounting tasks. And you will understand the Balance Sheet and Income Statement so much better for the experience.

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Bookkeeping services are significant feature of any business whether big, mid or small. These are crucial for organizing all transactions pertaining to cash flow, assets, and liabilities, amongst many others. Bookkeeping services are also especially significant when filing taxes particularly if you cannot do this on your personal. Software and online services are offered for more convenience and privacy for individuals.

Bookkeeping services are provided by professionals who have a degree in chartered accounting and related fields. Accountants, bookkeepers and auditors assist make sure that an individual or a company’s records are reserved correctly and taxes are paid properly and on time. Bookkeeping services analyze and communicate financial information from individuals, companies, and the government. Bookkeeping services can also provide specific jobs related to any of the four major fields accountancy which include public accounting, management, government accounting, and internal auditing.

Accounting refer to the measurements and statements about financial information used by company owners, businessmen, managers, lenders, investors and tax authorities among many others. Information gathered can assist make resource share decisions between and within companies, organizations, public agencies, and even flanked by individuals. There are special forms and “books” called journals and ledgers used for bookkeeping, but currently, there is several accounting software available for easier and more organized financial transaction reports which include the forms compulsory when filing taxes.

Bookkeeping, on the other hand, is rather similar to accounting for the reason that it also involves the recording of all financial transactions or cash flow. This is used by many individuals and companies to maintain record of what goes in and what goes out of their accounts. Bookkeeping also uses different forms and books and software particularly designed for this purpose.

Generally used bookkeeper or accountant following bookkeeping accounting software such as:

QuickBooks
Peachtree
Sage Line 50
Quicken
MYOB
IRIS
LaCerte
Pro Tax

All the small, mid and also large business require for all the business financial transactions records like sales, purchases, income, and payments by an individual or organization. So, bookkeeping services help to keep record for all the financial transaction records for required small business, mid sized and also large business. Bookkeeper or accountant usually responsible for recording financial transactions the daily purchases, sales, receipts and payments. They have to make sure that all of these are recorded on the proper ledgers.

One of the most common reasons why home businesses fail is that these businesses do not really have good financial systems. A lot of small business owners do not really keep good records of their revenue and expenses that they find it hard to determine whether their business is earning enough or not. If you are one of those business owners who have not been keeping good financial records, now is the best time for you to establish good financial systems for your company. Always remember that good financial systems will not only help your business grow, it will also keep you out of trouble when it is time to file for your income tax returns.

If you have an accountant, call him/her and explain that you are just starting your own home business. You will be surprised of all the tax deductions you are able to claim (heat, electricity, phone, rent, etc). Your accountant will advise you to keep financial records for your business.

Setting Up Your Financial Records:

You do not really have to be an accountant or a professional bookkeeper to be able to keep records of your financial transactions. To set up your financial records manually, all you need is a worksheet where you can record all your earnings and your expenses. To keep everything simple, just use a two column worksheet where you can record all your earnings in one column and your expenses in the other. Record your financial transactions at the end of each day so that you will not miss out something. Keep all your bills and receipts on file so that your accountant will be able to easily review your transactions later on for purposes of filing your income tax returns.

Another way to keep records of your financial transactions is the use of those accounting software being sold in the market today. The good thing about using accounting software is that you do not have to keep a lot of papers in your office and you do not have to bother writing things down a number of times in your worksheets. Just load the program into your computer and you can already use it by following the menu. With the use of good accounting software, all you need to do is to enter your financial transactions for the day and the software will do the rest of the work.

Most of this accounting software will also give you complete financial statements after you uploaded all the necessary information so you get to save a lot of time and efforts in computing your earnings. What is more interesting about this computer software is that some of these can also help you project your future income and calculate your estimated internal rate of returns.

How Much Will the Accounting Software Cost You?

The price of the accounting software will depend on the complexity of the program that you need. Simple programs do not really cost so much so you need not worry about the cost. Besides, you can always put the cost of accounting software as part of your business expenses. Get organized early in the game and avoid the pitfalls that may come later.

Good luck and stay the course!

Double entry bookkeeping is an accounting technique to record the financial transactions of a business where every transaction is entered twice, equal and opposite transactions. Double entry is required for all businesses that must produce both a profit and loss account and a balance sheet.

All limited companies are required to produce a statement of assets and liabilities and maintain a system of financial control and invariably need to adopt a system of double entry bookkeeping usually using an accounting software package.

The same rules may not necessarily to self employed business that does not require to produce both a profit and loss account and a statement of assets and liabilities as the final product of the financial accounting. In the UK a balance sheet is an optional requirement of self employed business.

There are advantages and disadvantages in preparing financial accounts using self employed bookkeeping. The main advantage being the simplicity with which accounts can be produced requiring a much lower knowledge of accounting systems. The main disadvantage of single entry bookkeeping is the absence of financial control due to limited detailed records of asset and liability accounts.

Preparing accounts using single entry bookkeeping involves recording the prime financial transactions once rather than twice. Prime financial records include sales income, purchase expenses and cash or bank transactions.

As the accounts do not require to produce a trial balance and balance sheet then when using self employed bookkeeping recording cash and bank transactions is not strictly necessary but highly recommended to provide additional financial control. While cash and bank transactions are movements of assets or liabilities and not part of the income and expenditure account accurate cash and bank records are useful since cash flow is a highly critical area for small business.

In the absence of a double entry bookkeeping system the small business has less control over the debits and credits of the business. That being the amounts owed for sales invoices from customers who are called debtors and the amount owed by the small business to suppliers who have supplied goods and services on credit and are called creditors.

What is required from commercially available single entry bookkeeping software is not just an accounts package that produces the profit and loss account but also has additional facilities to assist financial management and control of the business by providing optional areas for cash, bank, debtors and creditor accounts to be maintained.

Mismanagement of small business finances is a major area which can drive a small business into liquidation and bankruptcy. The first lesson an accountant might learn when studying accounting and financial control is that the business must always have sufficient cash or availability to cash resources to trade the next day. Bank records and maintaining a positive cash flow is important as without liquidity the business cannot trade..

In a similar vein control over debts owed to the company and owed by the company is also important for the smooth operation of a small business. Bad debts from clients can cripple a small business in fact high levels of bad debts can cripple any size of business as evidenced in recent times with the so called credit crunch. Lack of control over unpaid purchase invoices to creditors can result in serious disruption and higher costs since suppliers stop supplies and may charge recovery costs and relentlessly chase up the debs taking up valuable time.

The conclusion then is while single entry bookkeeping is a viable option anyone who adopts a self employed style of bookkeeping to simply produce a profit and loss account, or income and expenditure account should also have supplemental systems to control assets and liabilities. Bookkeeping software can produce a solution by adding additional financial control.

The advantage of using a single entry bookkeeping system involves the simplest form of keeping records of financial transactions. Essentially the small business makes two lists, one of income received and one of expenses incurred. Using single entry might involve virtual zero accounting or bookkeeping knowledge.

When recording the financial transactions in the two lists of income and expenditure a small amount of extra detail can have magnificent effects on the quality of records produced by grouping together items of a similar nature.

When entering sales invoices or income received to produce the sales turnover total a small amount of analysis can save much time and produce a more sophisticated result. For example the sales can be listed in one column to produce the overall sales turnover but also analysed to a small number of additional columns in which could be entered different types of sales income.

The additional columns might be for different types of product or sales from different sales channels, sources, or perhaps used to separate out interest received if tax differently to business sales income. Some analysis of purchases is usually essential as only the tiniest business would get away with lumping all purchases together as one total.

Single entry bookkeeping would involve making a list of all purchase invoices for goods and services. The analysis of those purchases then achieved by listing each invoice again in an analysis column according to the type of expense incurred. Bookkeeping software should include a simple expenditure analysis.

Having produced the list of sales and the list of expenses all the information is then available to produce an income and expenditure account. Enter the totals from the single entry bookkeeping sheets on a separate sheet with sales income at the top, a list of expenses under each purchase expenditure category. Take the total expenditure from the total sales and the result is the net taxable profit. Bookkeeping software should automate this process.

The financial accounts based upon a single entry bookkeeping are complete and a net taxable profit produced for the tax authority.

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The file based accounting system dominates almost all small to medium size accounting software in the pass, only big corporate with hundred of thousands can afford SQL Accounting, but this is not the case any more, as SQL database server getting cheaper (even FREE!), more and more accounting system are built on SQL database server, and I think you should seriously consider SQL Accounting for your company and yourself!

The Advantages for software developer:

1. Scalable architecture.

User can easily expand their connection and scale to a larger system, conventional file based accounting will only allow multi-users connections up to 20 or less. The database powered accounting system will always take more resources than the file based accounting, but modern computer is powerful enough to run any database application, even on desktop computer.

2. Realtime processing.

SQL Accounting with stored procedure support can process calculation on the fly! Support both realtime and batch processing.

3. Separate Business rules from interface.

With proper software design, developer can separate business rules from software interface; The database stored procedure will handle all business rules and processing related matter, while the software will handle all validation and user interactions. Such design allowed developer to port existing software code to web based or other platform easily.

4. Faster product delivery.

Separation of user interface and business rules will greatly reduce testing and debug time, deliver the project more faster.

The Advantages for end user:

1. Faster response time.

Powerful database will speed up processing time.

2. Store more data without performance decrease.

The real database storage allows over 100 GB of data while maintaining a fast response time, file base will start to decrease in performance when data grow over 1 GB.

3. Less cost to integrate.

Standard SQL database will be easier to integrate with the existing system, any business software vendor should be able to communicate with the database and automate the data exchange process with minimum support from accounting software vendor.

There is no reason not to select SQL Accounting, functionality can be easily extended, but the based architecture of the business system must be flexible and scalable to save money in the long run of the development.

(C) Copyright 2008 CYNICS SOFTWARE – Feel free to reprint this article in its entirety as long as all links and author resources box in place.

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Now that the first 5 mistakes have been described in my first article and detailed in my associated whitepaper and podcast, here are . . .

The Next 5 Mistakes

6. NOT INVESTING ENOUGH IN YOUR BUSINESS

7. NOT PAYING ATTENTION AND ASSUMING THINGS ARE GETTING DONE

8. FAILURE TO UTILIZE THE RIGHT TAX STRATEGIES AVAILABLE UNDER THE LAW

9. NOT USING THE RIGHT TALENT FOR THE RIGHT JOB

10. BUYING THE LATEST SOFTWARE TO SOLVE ALL YOUR PROBLEMS

OK, there’s the list, six through ten.  Now let me explain to you what I mean for each of these points.

6. NOT INVESTING ENOUGH IN YOUR BUSINESS

As an accountant in Chicago, Illinois, I often see business owners making this mistake when the economy is beginning to slow or has slowed. The natural reaction for most business owners is to pull back on spending and often this only exacerbates the less than ideal conditions. Many business owners will immediately cut their selling and marketing budgets in an attempt to conserve cash. However, this is often the last thing you want to do in a slowing economy

Marketing and selling are the lifeblood of any business and so long as you are measuring results properly and you can demonstrate (through your managerial accounting) that marketing dollars invested are returning revenue dollars at a positive rate of return you should continue to invest in these areas. In fact, you might even consider expanding your marketing and selling efforts to take advantage of the fact that your competitors are likely pulling back and leaving you with a tremendous opportunity to expand your market share.

The other area that every business owner should be investing in is developing the skills that they possess and their employees possess. Especially in today’s day and age!  What makes more sense?  Investing in your business or some Wall Street fund that just lost you 50% of your capital?  I think you can guess what my advice as a Chicago accountant will be!

7. NOT PAYING ATTENTION AND ASSUMING THINGS ARE GETTING DONE

There will likely come a time in your business when it grows large enough that you will have to begin delegating authority and decisions to others.

This brings to mind several points:

First, you must be certain that the person to whom you are delegating has the skills and knowledge necessary to perform the task well. This might require some additional training, education, or skill development.

Second, you must be certain that the person to whom you are delegating approaches the task with the same level of importance that you, the business owner, do.  This person will be functioning on your behalf.

Third, you must look beyond the update reports your employees hand you and question the validity and accuracy of the information you are being handed. Don’t simply toss the report on a pile of 50 other unread reports or someday (perhaps soon) you will be surprised to find that your business is in deep, deep trouble.

Delegating authority is not abdicating authority! In the end your business will never be as important to anyone else as it is to you.  However with the proper training, monitoring, and incentives you can build a team that will allow the business to grow and allow you the work-life balance you desire.

8. FAILURE TO UTILIZE THE RIGHT TAX STRATEGIES AVAILABLE UNDER THE LAW

Albert Einstein once said “The hardest thing to understand in the world is income tax.” Boy was he right! The tax code is very complicated and often there are peculiar provisions for each industry. So it’s very important that your tax professional or accountant have experience in your industry to be certain that you are taking advantage of all of the various possibilities.

Let’s take something like a desk, a fairly common small business capital asset. There is a provision known as a Section 179 election that allows you to write-off the purchase price of that asset in the first year. Now the alternative to Section 179 is to depreciate that desk over seven years! So you can see that there is a significant tax benefit to Section 179 if you qualify to take it.

Contractors are one of many areas where I have special accountant expertise in the Chicago area.  Contractors with less than million a year in revenue have the ability to do what is called the completed contract method of accounting. What that means is they are not required to recognize the revenue from a job until the job is completed. This can sometimes be very advantageous when the contractor has jobs that stretch over multiple years.

For larger contractors, those with revenues exceeding million a year, there is something known as percentage of completion which provides the contractor the ability to recognize profits pro-rata along the way. In some instances this method can be very advantageous. In the end, you’ll end up paying taxes no matter what method you choose but a skilled accountant can explain the distinct advantages available to you depending upon your particular circumstances.

It is impossible for the average business owner to be an expert in tax compliance accounting and often what I see here in Chicago is that they are misled by what they read in the local paper, trade journals and other sources of information. In some cases I have seen costly mistakes made and penalties incurred, not because the business owner was trying to do something sneaky or illegal, but simply because the advice they had gotten was incorrect for their particular circumstance.

9. NOT USING THE RIGHT TALENT FOR THE RIGHT JOB

In my role as an Accounting-CFO I am frequently called upon to help my clients define their business culture and help them identify talent both within their existing employee pool as well as external to the company.

A second area I can bring specific insights is the concept of matching the right talents for the right job. This frequently manifests itself when I notice that high-priced talent within an organization is spending an inordinate amount of time doing busy work or paperwork that could easily be handled by a far lower priced administrative employee.

Often times as organizations grow the most talented individuals seem to accumulate or acquire an unusually high proportion of non-revenue-generating tasks simply because of their “get it done” nature. I’ll see vice presidents and even presidents of companies who are filling the copy machine, un-jamming the fax machine or doing the bookkeeping because they have always done it that way.  When all of these things should be done by lower paid employees, accountants, or simply outsourced, thereby freeing up the executive for additional revenue generating opportunities.

The flip side is also true though. I sometime see situations where lower level employees are performing critical tasks with little or no oversight from management or outside expertise. For example, to help control costs one Chicago based business owner was relying upon an internal bookkeeper to keep the day-to-day operations running and act as an accountant. This was fine until I performed an external audit on his business and found that the bookkeeper/accountant was in over her head and that the entire Accounts Payable and Accounts Receivable ledgers were in disarray! Let me tell you it was not a good day when that business owner suddenly realized that his company didn’t have the money to make payroll or replenish inventory!

10. BUYING THE LATEST SOFTWARE TO SOLVE ALL YOUR PROBLEMS

Accounting software is only as good as the data that goes into it and the talent that is using it. Yet all too often I have been called into situations where a business owner has bought new accounting software thinking that it would somehow miraculously solve their managerial accounting problems. This is simply absurd.

As an accountant in Chicago, I have found that no matter what accounting software you use, you must have the supporting processes in place in order to assure that the correct data is getting into the software package and just as importantly that the correct data is being accessed and displayed in a useful fashion.

When considering changes to your accounting systems you must be certain to take into account all of the investments necessary to make a successful change. Often times the cost of the financial software itself is relatively small in comparison to the impact on the organization from a training, downtime, and implementation perspective.

In some cases you may need to have the old system and the new system running in parallel for an extended period of time. It always seems to be that conversions to new systems are never as easy as they are promised to be and that they typically cost 2 to 3 times more (when all costs are accounted for) than what the business owner anticipated.

Remember, your accounting systems are the foundation of your financial house! You must be absolutely certain that any changes you make to the accounting software you use improve the strength and flexibility of your financial house’s foundation!

New accounting software gives you the tools to reduce debt by organizing your personal finances. If not to make a fortune, a personal finance manager helps you from falling into the abysmal pit-hole of debt. When it comes to investing, a common man is bewildered or is at a loss to find out what is good for his budget. Where, when and how to invest are mind boggling predicaments that haunts any investor who are literally mobbed by many companies with their offers. It is here the role of a personal finance manager gains ground. As he is well versed in the nuances of all offers, he can guide you through your rough patch. The greatest advantage of resorting to personal finance management personnel is that his proficiency in money matters helps you to stay afloat even when the undercurrents are against your very existences. The fund manager is not a fair weather friend and sees you through thick and thin, irrespective of your financial status. He keeps you ticking when odds are not in your favor. Personal finance is a package which includes checking and savings account, credit cards, consumer loans, stock market investments, retirement plans, insurance policies and income tax management. In matters of finance those who are not vigilant can get into personal debt. It catches you unawares. Now many are on the verge of total breakdown owing to mismanagement of resources. You can avert this if you make use of any offers of help extended by any accountant. Take control of your financial life today, lest you regret tomorrow. Planning is essential for any enterprise to blossom. The personal finance manager sees to it that you reach your goal with out any commitment to any agency that provides loans. They keep track of your expenditure and savings without making you liable to over taxation. This helps you to bid adieu to your worries.

“Don’t be a wretched soul bruised with adversity”-Shakespeare advises. Shake off the shackles and greet the rising sun with confidence. When adversities befall, it hampers the thinking faculty and you often end up in utter disaster. It needs extra courage to come up when things are not going your way. Make use of the benefits by Practicing Thrift: Personal Finance tough times decide where you will reach in future. Blessed with the Midas touch, the accounting software wipes away your financial blues like a good associate.  Avail the services extended by a fund manager who guides you without credit check or credit score and helps you to payoff your piled up bills of electricity and car repairs or medical expenses rather than missing it or resorting to credit card. Missing a single payment can put you in deep trouble. Your credit score will deplete to an alarming level making a pup’s chance to avail any other traditional financial assistance. So the bromide with a change ‘plan before you leap ‘holds well here. The services extended by the personal finance software boost your credibility. Your fund is channelized to proper investments that are tailor made for your budget. The person who handles your finances is all set to give you profit. The funds are delivered into the checking account of your choice after looking at the pros and cons of your total expenditure. The grants you avail are recorded and informed way ahead if there is a likelihood of running short of fund for something cardinal. It is like a good associate who warns you of the impending danger. The personal finance is all about spending and saving within your means. The personal finance software to manage your finances suits your busy lifestyle. Your account will be free of blemishes and you can enjoy peace of mind which has become the greatest casualty today.

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Scott Smith, President of Technology Group International, noted, “The report writer allows both existing and new Enterprise 21 customers to produce sophisticated financial reports with very minimal effort or data set up. It is designed to fully capture the advanced general ledger and financial reporting structure inherent in our ERP software.”

Technology Group International (TGI), a leading ERP software solution provider, announced the release of an easy to use financial report writer that is fully integrated into TGI’s flagship software product, Enterprise 21.

The new report writer automatically exports data from Enterprise 21’s General Ledger module into commonly used spreadsheet programs such as Microsoft Excel. This export process gives the average user the ability to quickly produce financial data in a presentation format that is easily customized to mimic their organization’s unique look and feel.

Sample financial reports include:

Balance Sheets

Income Statements

Profit and Loss Statements

Financial Ratios

Cash Flows

The financial report writer accommodates organizations with multiple departments, cost centers, divisions, or companies. It is available with all new sales of the Enterprise 21 ERP system.

About Technology Group International, Ltd.

Founded in 1990 and headquartered in Toledo, Ohio, Technology Group International is a proven technology leader delivering Tier 1 application software functionality at a price performance level that can be readily accepted by organizations of all sizes. Specializing in software solutions for small and mid-market manufacturing and distribution companies, TGI’s integrated Enterprise Series software suite is a complete business process management solution. The product offering includes Enterprise Resources Planning (ERP), Manufacturing Resource Planning (MRP), Supply Chain Management (SCM), Warehouse Management System (WMS), Advanced Planning and Scheduling (APS), Decision Support System (DSS), Business Intelligence, Manufacturing Execution System (MES), and eCommerce. TGI implements, maintains, enhances, and supports its packaged distribution and manufacturing software solutions directly and via its channel partners.

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Scott Smith, President of Technology Group International, noted, “The report writer allows both existing and new Enterprise 21 customers to produce sophisticated financial reports with very minimal effort or data set up. It is designed to fully capture the advanced general ledger and financial reporting structure inherent in our ERP software.”

Technology Group International (TGI), a leading ERP software solution provider, announced the release of an easy to use financial report writer that is fully integrated into TGI’s flagship software product, Enterprise 21.

The new report writer automatically exports data from Enterprise 21’s General Ledger module into commonly used spreadsheet programs such as Microsoft Excel. This export process gives the average user the ability to quickly produce financial data in a presentation format that is easily customized to mimic their organization’s unique look and feel.

Sample financial reports include:

Balance Sheets

Income Statements

Profit and Loss Statements

Financial Ratios

Cash Flows

The financial report writer accommodates organizations with multiple departments, cost centers, divisions, or companies. It is available with all new sales of the Enterprise 21 ERP system.

About Technology Group International, Ltd.

Founded in 1990 and headquartered in Toledo, Ohio, Technology Group International is a proven technology leader delivering Tier 1 application software functionality at a price performance level that can be readily accepted by organizations of all sizes. Specializing in software solutions for small and mid-market manufacturing and distribution companies, TGI’s integrated Enterprise Series software suite is a complete business process management solution. The product offering includes Enterprise Resources Planning (ERP), Manufacturing Resource Planning (MRP), Supply Chain Management (SCM), Warehouse Management System (WMS), Advanced Planning and Scheduling (APS), Decision Support System (DSS), Business Intelligence, Manufacturing Execution System (MES), and eCommerce. TGI implements, maintains, enhances, and supports its packaged distribution and manufacturing software solutions directly and via its channel partners.