If you run a business of your own, you will find a computer based system of tracking
your accounting activity to likely be indispensable- certainly!
I once used to design and program custom accounting systems for small and even
larger sized businesses and I can tell you that the business has much changed over
the years in that software has become quite cheap in fact! And with windows based
functionality on your inexpensive computer hardware (prices have come down
tremendously I can tell you!), you can do for yourself with very little investment indeed -
relatively speaking. I especially designed great software for retailers and wholesalers
needing point of sale and or order entry systems that were integrated with their General
Ledger, Accounts receivable, Accounts Payable and Inventory Control systems too - most
of all! On the other hand, simply having a timely "Income statement" (click on link for a
sample of the report - also known as a P & L or Profit and Loss Statement) and a similarly
informative "Balance sheet" is what most have always sought and have often had to wait
too long for, and paid invariably too much for - given the use of "outside accountants" rather
than internal resources in the way of a simple computerized bookkeeping system, which
they can maintain on their own and get information from "on the fly" and as often and quickly
as needed instead.
