Preview

The Little Guys

Satisfactory Essays
Open Document
Open Document
411 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
The Little Guys
I personally feel like any company big or small needs an accountant. I think that QuickBooks is an amazing piece of soft wear for a business owner. They can keep track of their spending’s, for every little things from gas, food, equipment, and much more. Its good that a professional account comes in and looks at all their numbers for the quarter and to make sure that everything looks good in the books so that people aren’t audited or fined, with the help of an accountant you have reputable information. Another good reason to have QuickBooks and the accountant is because they can show you how to generate money better. The reason why all of this is so important is for our good friend uncle Sam. To my understandings, Businesses file taxes more often than a normal person who isn’t a business owner. Tax time or tax season is a very important time for anybody and have his or her QuickBooks up to date and ready for a potential audit is important.
Yes, I do feel like The Little Guys is doing a good job at managing is cash flow. When the recession hit, it hit everyone. This effected the government, businesses, and normal people. The reason why is because of businesses going out of business, people losing jobs, people filing for unemployment. The Little Guys did what any business owner would do to survive. They moved the business to a more affordable place, carries only certain systems to better sell, sadly, had to lay people off to afford other things. The one thing that the business needs to remember is that, yes, customer service is very important trait to have but they need to remember that they’re there to sell equipment, make a living, and have a successful business. When a customer comes in and buys a system they need to pay all of the amount up front or a fifty percent down payment and then monthly payments. To even make that extra buck they could add interest on the monthly payments.
Some of the factors that take place to The Little Guys operating expenses

You May Also Find These Documents Helpful

  • Better Essays

    When a business is experiencing an out-of-control accounting system the business might consider hiring an internal accountant to help alleviate the problem. Before a company decides to hire this type of accountant the company should look at the array of services this kind of accountant can provide to the company.…

    • 983 Words
    • 4 Pages
    Better Essays
  • Satisfactory Essays

    It is important to back up data just in case something happens to the original data and it is unable to be retrieved. If the original data is lost or damaged having a backup will ensure that the information in QuickBooks is still available.…

    • 612 Words
    • 3 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Organizational Chart 719

    • 532 Words
    • 2 Pages

    An accountant's job is to record, analyze and report a company or individual's financial status. The accountant functions as an advisor. The client reviews the bookkeeping services and what accountant is telling them about their financial state to make adjustments as needed. More specifically, an accountant keeps accurate…

    • 532 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Owning a business can be a very difficult challenge for the owner isn’t careful and doesn’t maintain a balanced financial account. The purpose of building the balance sheet is to have a snapshot of the business finances at a certain point in time (Zion Bank). If I owned my own business the balance sheet would be the most important area I focused on. Since the balance sheet shows what I own, owe, and what my company is worth, I would ensure that my appointed accountant stays on top of where my money is being spent. This will help me determine where I need to cut back or increase my revenue.…

    • 363 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    In a business life keeping the records accurate and up to date is very important in order for a business to run smoothly and produce good levels of profits. The accountant for the business or actual business owner, must keep either a PC document or written copy of all the money going in and out of the business. This should be to the last penny as one wrong number or one forgotten means that the businesses whole records are wrong. If a business fails to do this, it could potentially find itself forgetting to pay bills, forgetting about chasing payments from other businesses or customers and even worse finding themselves in trouble with HM Revenue and Customs. This is something a blot of businesses are worried about due to, if a recorded transaction is wrong the final report will be wrong which could lead to tax payments being wrong. If the tax payments are wrong and HMRC, also known as HM, find out then the business could even find themselves in court and with a fine.…

    • 696 Words
    • 3 Pages
    Satisfactory Essays
  • Good Essays

    Account

    • 727 Words
    • 3 Pages

    An accounting system is very important to a business because the company needs to know how the business is doing; you want to have professional looking financial statements for your bank, potential vendors, or other interested parties. An account system is also important to process sales, purchase orders, invoices, payroll, and other business functions manually. The accounting system must be scalable, secure and gather data feed from other business systems to collect up-to-date business finances.…

    • 727 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    Be Our Guest

    • 365 Words
    • 2 Pages

    In a functional business owners should not have to reduce payments to themselves to be able to afford running the business. Owners have to deal with their personal everyday expenses and need to have some source of income to be able to afford a normal lifestyle. If the business is not doing well, then an accountant needs to review the financials of the business and eventually changes to make the business more profitable need to be made.…

    • 365 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    rsm100

    • 2110 Words
    • 9 Pages

    The major users of accounting information are managers at a business, government agency, or not-for-profit organization. Accounting information helps them to plan and control daily and long-range operation.…

    • 2110 Words
    • 9 Pages
    Powerful Essays
  • Satisfactory Essays

    According to www.bls.gov “Accountants and auditors help to ensure that firms are run efficiently, public records kept accurately, and taxes paid properly and on time. They analyze and communicate financial information for various entities such as…

    • 569 Words
    • 3 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Financial statements show the physical numbers of the cash flow and losses, they also make it easier to prove to a bank if ever a loan is needed.(http://www.oakhillbp.com paragraph 2) Having an accountant or the skills of one is beneficial and highly crucial to keep your business clear and clean for government and mind.…

    • 391 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Intuit Research

    • 577 Words
    • 3 Pages

    QuickBooks is a software that’s offered online and CD/desk top version for small business to keep track of day to day bookkeeping. This software offers accounts payable, invoicing, accounts receivable, bank reconciliation, profit and loss statements, etc. QuickBooks owns 85% retail markets share in Small Businesses financial solutions. The brand name…

    • 577 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Assignment 7

    • 1005 Words
    • 5 Pages

    Accountants prepare and examine financial records and makes sure taxes are paid properlyand on time.…

    • 1005 Words
    • 5 Pages
    Good Essays
  • Good Essays

    Ethics in Accounting

    • 952 Words
    • 4 Pages

    The definition of accounting according to Webster 's dictionary is "the system of recording and summarizing business and financial transactions and analyzing, verifying, and reporting the results." The purpose of accounting is to provide financial and business information to possible investors, current investors, and management so they can make accurate decisions concerning the company. There are four basic statements that accounting provides: the Balance Sheet, the Cash Flow Statement, the Owner 's Equity Statement, and the Income Statement. These four reports provide the perspective of how the organization is maintaining financially. The basis of many decisions will stem from how profitable an organization is and thus it can be tempting to increase the bottom line so the company looks better on paper than what the situation is in actuality. The importance of accounting is that it gives investors the confidence in making a well informed decision and though the accounting reports don 't equate to a sure thing these reports aid in the flow of business. Thus without accurate accounting there would be no way an investor could feel safe or educated in providing monies to an organization. Thus accounting promotes the flow of business. Accounting also is hinged on various people 's monies and so it must be performed with accuracy and integrity. There are many people 's lives and financial well-being at stake and thus there should be a considerable amount of integrity and ethical behavior utilized in accounting.…

    • 952 Words
    • 4 Pages
    Good Essays
  • Good Essays

    “Little Girls or Little Women? The Disney Princess Effect” is an article by Stephanie Hanes which touches on the princess phenomenon many young girls are obsessed with. Stephanie Hanes concludes that the Disney Princess craze is linked to self-objectification and the growing sexualization of young girls. Although she provided numerous facts the argument was unsuccessful because it was weak and confusing. Her own personal opinion on why she blamed the Disney Empire for sexualization amongst young girls was rarely voiced. Lastly the main idea of the article gets masked by controversial expert claims that are not linked to the topic.…

    • 685 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    Miniature Adults

    • 385 Words
    • 2 Pages

    Describe a situation or several situations you've encounters that reflect the fact that children are not miniature adults. They think differently, see the world differently, and live by different morals and ethical principles than adults.…

    • 385 Words
    • 2 Pages
    Satisfactory Essays