The Power Of Accounting – Learning QuickBooks
Did you know that 47% of all small businesses fail within the first 4 years, according to Statistic Brain? Even worse still, Bloomberg reported that in 2012, a whopping 8 out of 10 home based startups fail within the first 18 months (Eric T. Wagner, 2012). That’s certainly a scary statistic. It may even seem downright discouraging for potential capitalists. However, there are many things that a business owner or entrepreneur can do to prevent this from happening.
For too many small businesses, accounting is the function that business owners and managers usually want to ignore. If not attended to, it becomes a weakness, and possibly could lead to the failure of the business. Just as you would never drive your car blindfolded, operating without accounting records means your financial vehicle is running without knowing where it is, where it has been and where it is going.
There is probably not one company, with 100 employees, that hasn’t recognized the value of good records. They did not become successful by mere coincidence. They have known the value of information coming from the accounting system, and they are willing to invest the funds necessary to make sure it is timely, accurate and useful. Most have regular financial reviews with their management team to understand how their business is doing and where it is heading. Summarily, we can say that accounting is the function of business that gathers data and information from all the different aspects of the business. Business operators and managers can then use this information to develop knowledge and wisdom, and make better business decisions.
Successful business owners and managers know what is happening inside the business at all times. Business owners and managers must have a sense of numbers and of understanding what they mean and how to influence them. If they do not have this sense of which numbers are important, then they need to hire someone that they can trust to look at the numbers and interpret them.
QuickBooks is a financial accounting software manufactured by Intuit. Designed for use by small businesses, QuickBooks boasts of an assortment of features aimed at helping users manage each of their accounting functions, including accounts receivable, accounts payable and financial reporting.
Using Quickbooks Academy (UQA) and it’s easy-to-use website, usingquickbooks.com is here to help business owners and managers make the most out of QuickBooks. UQA is an e-learning website that teaches learning QuickBooks using the modular approach.
They believe that learning QuickBooks leads to better understanding of the reports it generates which then leads to making smart decisions that makes you more money.