With a combination of just finishing up taxes and switching accounting programs, I have a bit of a chance to improve the process so was interested in hearing how everyone else is doing it. Originally started out with all kinds of detailed categories, but have slowly minimized it to essentially align with what is needed for tax purposes.
Do you guys mind sharing how you have your categories broken up, screenshots would be great. Looking for a new accountant, as current one doesn't really understand manufacturing so sometimes its like talking to a wall when asking questions.
Ultimate goal is to make it simple and straight forward when entering, enough breakdowns to see what is going on, and organized come tax time.
How about the actual process of ordering to entering. Small shop, no purchasing or accounting dept, its all 99% myself that does that.
When I first started out, I made a purchase and entered it directly in the accounting program, that has since faded away as things have gotten busier. Its currently been more of a every couple months, download the Credit Card and bank statements and go from there, but thats kind of annoying as if its something like Mcmaster, I then have to look was it consumable tools, material, shop repair etc.
Do you guys mind sharing how you have your categories broken up, screenshots would be great. Looking for a new accountant, as current one doesn't really understand manufacturing so sometimes its like talking to a wall when asking questions.
Ultimate goal is to make it simple and straight forward when entering, enough breakdowns to see what is going on, and organized come tax time.
How about the actual process of ordering to entering. Small shop, no purchasing or accounting dept, its all 99% myself that does that.
When I first started out, I made a purchase and entered it directly in the accounting program, that has since faded away as things have gotten busier. Its currently been more of a every couple months, download the Credit Card and bank statements and go from there, but thats kind of annoying as if its something like Mcmaster, I then have to look was it consumable tools, material, shop repair etc.