Introduction to Accounting PDF Print E-mail
Human Development - Accounting

Introduction to Accounting

Balance the numbers

Accounting software is necessary to run your business. It is the one place where everyone, owners, managers, money lenders, government officials and customers, can see what your company or organization is doing. As such it is of the utmost importance to yourself - and these others - that your accounting software is amply sufficient and geared to your needs.

A good accounting package (see Accounting software) will enable you to observe how your organization is getting along. All data is recorded and, depending on the quality and complexity of the accounting package, you should be able to extract reports on past and current performance as well as make projections for the future development of your company.

If your argument for not having an accounting package is that you can do it yourself or that your business is indeed so small you do not need one, consider that there are packages for businesses large and small and that they all make life a little easier for you.

Many specific accounting packages exist so you need not settle for generic accounting software of which you either do not use a large part or where it lacks in specificity unless, of course, your business can fit into one of these generic accounting packages.

Accounting software is an integral part of the business administration. Many non-profit organizations use accounting packages to enable to have an overview of their organization.

Even if you are a self-employed individual you still need to have your books in order. And why make it difficult on yourself, many of today's accounting software do most of the work for you, up to and including filing forms for the tax services.

But you need not fret that you do not know how to keep your accounts. Help is available on the net as well as in your local town or state.



Most tax departments, for example, have regular "classes" or seminars where you can gain information. Other tax departments give no support at all to the single entrepreneur because their government favors multinationals over small businesses, forcing you to hire expensive accountants to do it for you.

But luckily, in the U.S., the U.K. and many other countries, tax departments are more helpful. If they are not, there are several national institutions and organizations, governmental and non-profit, that will help you with at least the basics or specific questions. (see Accounting institutions and organizations.)

But don't wait for them to solve your issues or questions, get on line and talk to fellow entrepreneurs or accounting professionals and get direct support! (See Accounting newsgroups.)


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