Balancing a checkbook....

Corry · Jan 7, 2005

Yup...thanks for everyones help! I found some stuff online that might help me, too. I've got all the statements sitting on my desk, and I'm gonna start in in just a few minutes. I probably won't do it all today though, since, like I said before, after a while, things stop making sense! Wish me luck!

By the way, if you don't hear from me for a while (like, let's say 30 year to life), it means I went balistic on my co-worker....

Corry · Jan 7, 2005

AlisonS said:
core_17 said:

AlisonS said:

core_17 said:

Stupid question: Is reconciling my account the same as balancing my account?

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Same thing

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Thanks! Thought so!

I'm trying my best to learn Quickbooks. It's easier than Peachtree Accounting (they had that before, and I couldn't even get STARTED on it!). I have NO accounting experience at all, so it's pretty daunting. I'm getting it, though...but I still have a LOT to learn!

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If you have questions let me know. I'm a senior in Finance and I've taken more accounting classes than I cared to

Thanks Alison! I will! For some reason I thought you woul dbe right in here to help me!

Alison · Jan 7, 2005

I'm like Terri is to Alternative Techniques when it comes to Finance

Corry · Jan 7, 2005

Terri has helped me with things in the past, as well! (my Holga!) You guys are great!

Well, I think I've got my brain phsyched up enough to begin...I'll see y'all when smoke starts coming out my ears and I have to take a break!

Big Mike · Jan 7, 2005

While you are working on your companies finaces...you should put in a nice hefty bill for accounting services and cut yourself a check. :twisted:

No offense but it seems that your Dad's company is pretty cheap. You could probably save money buy hiring (or going to) an accountant to handle the accounting and taxes.

Corry · Jan 7, 2005

He's really just starting out. I mean, he's been doing it for 5 or 7 years now, but it's only been an official business for a couple years now. We are getting there, and I'm sure a hired accountant isn't too far off.

I just now got all the stubs and statements in order, and I started by balancing last Feb (the first month it was open. And it was off by $351.something. So...I went through and made sure the math in the check register was done correctly.

Yeah. The damn checkbook has been wrong since THE VERY FIRST ENTRY!!!!!!!!!!!!

:evil: :irked:

issed: :angry1: :gun:

Big Mike · Jan 7, 2005

I guess that's why so many companies fail in their first year.

It seems to me that most successful small companies are started/run by two people; one person who knows how to do the work and one person who knows how to run a company.

At least you are starting to get it together. When a companies finances are not run properly...it can be very easy for someone to take advantage of it.

I worked for a pretty big company that didn't have a tight grasp on it's accounting. The person who did the purchasing took advantage by setting up his own company and purchasing all the goods through it...then selling them to the company with a mark-up. He did it for years, as far as I know, before he got caught.

Corry · Jan 7, 2005

Well...before I started, the other guy in the office did ALL the bookwork, and if something needed typed up, my mom did it. The other person in the office (his name is Ed), has been in the contracting business since he got out of the Army..he's almost 80 now. He owned his own business for YEARS. So that's why Scott (stepdad) hired him. Cuz he knew what he was doing. Problem is, he is getting rather forgetful, and everything is inconsistent. And he won't admit to his mistakes, either...if it was a mistake in the numbers, he blames it on the calculator. He says it's not working right. Or something like that...or I get blamed. I mean...I understand...at his age, it's to be expected that his mind isn't so sharp anymore..what has me upset, is that my step-dad thinks everything Ed is doing it right, and that the mistakes are mine. I think he is starting to see things lately though...starting to understand. I'm starting to take over most of the responsibilities, because of the mess ups. The checking account is MINE from now on. I'm lockin the damn thing in my desk! Anyway...I've been rambling and barely makin sense, so I'm gonna end this rant now!

Big Mike · Jan 7, 2005

I hear you...we have a few old school guys here at work that just don't understand that things are not the same as they were 40 years ago.

On the other hand, there is more to running a business than just crunching numbers. Especially if your customers are from the old school too.

Keep plugging away and don't be afraid to stand up for yourself. It sounds like the place would fall apart without you...and you should let them know that.

Corry · Jan 7, 2005

Big Mike said:
I hear you...we have a few old school guys here at work that just don't understand that things are not the same as they were 40 years ago.

On the other hand, there is more to running a business than just crunching numbers. Especially if your customers are from the old school too.

Keep plugging away and don't be afraid to stand up for yourself. It sounds like the place would fall apart without you...and you should let them know that.

Thanks Mike!

I'm tryin...it's gonna take a while. I JUST NOW got the first month all corrected. Well...I got it within a penny, and that's good enough for me! Now I'm takin a break!