# Business Accounts?



## lowell5slide (Feb 28, 2006)

so what is the final word if i want to view the same documents on two different computers so my partner and I can do the same bookeeping


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## Double-A (Jul 3, 2006)

KBKConstruction said:


> I think I will purchase a copy of Quickbooks and ask my accountant to set it up for me. I just got an accountant this year.


For the love of cows and all that's milky, *DO NOT* let your accountant set up your Quickbooks for you. Set it up yourself, or, failing that, find a Quickbooks Pro Advisor with contractor experience and work with them to figure out how to set it up for your business. 

(_disclaimer: massive generalzation ahead, please proceed with caution_)

Listen closely. Accountants know beans about running a business. Their primary function is to tend to your tax liability interests and to prepare "audited", or "certified" financial statements on your behalf for banks and licensing agencies. They are not concerned with such things as what goes into calculating your labor burden and setting up accounts in your chart of accounts to use for that. If it ain't taxes or a balance sheet, it doesn't exist for them. My bet is; let an accountant set up a chart of accounts for you, and you'll get 15-30 accounts. You need more like 50-100.

Learn what a Chart of Accounts is, and what its for, and it will be your besterest friend in all the business world for life. I recommend you start with one or two basic accounting books for small businesses, or, get some Quickbooks how-to books. Most explain some basic accounting junk. Then get Quickbooks and start playing with the sample companies (understanding that there are intentionaly misleading and downright _WRONG_ things in there to keep you from just copying that data and using it).

Once you get more comfy with how it works, what it can do, and what all the terms are, now you're ready to talk to your accountant to get a "trail balance" from him. Then call in a Pro Advisor or tackle Quickbooks yourself, because now you can at least "speak the geek".

(A trial balance is a balance sheet with a lot of detail in it. Get it for the period ending the day BEFORE you want Quickbooks to officially start on. This will consist of some version of his "chart of accounts" for your company. Count them up, prove me wrong. If it goes over 30, I owe your accountant a steak dinner.)


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## Double-A (Jul 3, 2006)

lowell5slide said:


> so what is the final word if i want to view the same documents on two different computers so my partner and I can do the same bookeeping


Depends. You can buy one license from QB and set it up on one "workstation" and one "server". For every other instance of computers you need a license for each of them.

Do a Google search for "Quickbooks Users group" (be sure to spell it 'users' with an 's' to see them all, otherwise one or two of the better ones don't show up in the first 6000 pages or so) and go lurk. Search their forums for 'license' and 'open other computer' and you'll see the problems with using QB on a network and how to overcome them.


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## Debookkeeper (Jul 23, 2006)

> Accountants know beans about running a business


But I thought they were bean counters?? :biggrin: Okay - I have to throw in my 2 cents. Double A is right - either get a pro advisor to help set up quickbooks, and if there are none available, an accountant would be better than nothing if you don't have any accounting experience. In my 15 years I have seen some people REALLY screw up quickbooks. It may look good on the surface - but it's where the stuff is getting posted to that people screw up! Double A - I disagree - there are many types of accountants out there, and the guy I deal with is also up on the whole running of the business, labor burden etc. Just have to find the right one! How much do these Pro-Advisors charge anyway? I have been thinking about becoming one. Tell me tell me!!

Debbie


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## Double-A (Jul 3, 2006)

Debookkeeper said:


> But I thought they were bean counters?? :biggrin: Okay - I have to throw in my 2 cents. Double A is right - either get a pro advisor to help set up quickbooks, and if there are none available, an accountant would be better than nothing if you don't have any accounting experience. In my 15 years I have seen some people REALLY screw up quickbooks. It may look good on the surface - but it's where the stuff is getting posted to that people screw up! Double A - I disagree - there are many types of accountants out there, and the guy I deal with is also up on the whole running of the business, labor burden etc. Just have to find the right one! How much do these Pro-Advisors charge anyway? I have been thinking about becoming one. Tell me tell me!!
> 
> Debbie


Hence the warning of a gross generalization. I guess my point was this; No accountant will ever care as much about your business as you do. 

Advisors charge what they think they are worth. Some will work by the hour (phone and remote support). Some will work by the project ($1500.00 to set you up, working in your office for a week and phone support for 3 months). Some work for free.

Google >> Quickbooks users support group

Its your service, you already know how to charge for your time. This is additional service. Price it according to how available it is in your area. Exclusive provider = larger available market share. 

Just take care. This could turn into a conflict of self-interest. You don't want to teach Peter to fish, when you're his fish monger.


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