Book Image

Gnucash 2.4 Small Business Accounting: Beginner's Guide

4 (1)
Book Image

Gnucash 2.4 Small Business Accounting: Beginner's Guide

4 (1)

Overview of this book

Attention, small business owners! Stop tax-day stress. Stop procrastinating with a shoebox full of receipts. Stop reinventing the wheel with a spreadsheet. Stop making decisions simply on a hunch. Stop wasting money on software that is overkill. Start by downloading GnuCash and getting your accounts in order. Designed to be easy to use, yet powerful and flexible, GnuCash allows you to track bank accounts, income, and expenses. As quick and intuitive to use as a checkbook register, it is based on professional accounting principles to ensure balanced books and accurate reports. You can do it and Gnucash 2.4 Small Business Accounting Beginner's Guide will help you get up and running with maintaining your accounts. Gnucash 2.4 Small Business Accounting Beginner's Guide speaks business language, not accountant-speak, because it is written by a former small business owner. It guides you to use GnuCash from scratch with step-by-step tutorials without jargon, pointing out the gotchas to avoid with lots of tips. It will teach you to work on routine business transactions while migrating transaction data from other applications gradually. You will be able to keep on top of transactions and run reports after reading just three chapters! Beyond Chapter 3, it is up to you how far you want to go. Reconcile with your bank and credit card statements. Charge and pay sales tax. Do invoicing. Track payments due. Set up reminders for bills. Avoid stress at tax time. Print checks. Capture expenses using your mobile phone. Gnucash 2.4 Small Business Accounting Beginner's Guide gives you the power. Know your numbers. Make decisions with confidence. Drive your business to its full potential.
Table of Contents (20 chapters)
Gnucash 2.4 Small Business Accounting
Credits
About the Author
About the Reviewers
www.PacktPub.com
Preface
Index

How to impress your accountant


Even though we are trying to keep accounting jargon to a minimum, it is a good idea to be on talking terms with your accountant! And, in order to talk to the accountants, you need to speak their lingo, right? Oh no, not all of it, just enough to get across what you want to get done. So, it is good to know that whatever GnuCash calls the 'account hierarchy', the Accountants call the 'Chart of Accounts'.

If your accountant has GnuCash, you can send a copy of the MACS file that we created earlier. They can open this in their GnuCash application and review.

Tip

What if your accountant doesn't have GnuCash?

You can still send it in one of the popular spreadsheet formats such as Microsoft Excel or OpenOffice.org Calc. How will you do that? Go to the Reports menu and select Account Summary. You should now see the complete hierarchy of accounts that we created in a tabular report format. You can copy and paste this into Microsoft Excel and save it as an Excel file. Alternatively, you can paste this into OpenOffice.org Calc and save it as a Calc ODS file. Accountants are typically very heavy users of spreadsheets and, chances are, your accountant should be able to handle one of these.

Here comes the MOST IMPORTANT part. In the e-mail, just say casually, "Here is the draft chart of accounts that I created. When you have a minute, take a quick peek and let me know what you think". That ought to do it.