Minute-by-minute and hour-by-hour, she had to shift what she was working on, depending on the priority of the moment.Īnd poor David! He’d been paying for all of the time that it took Marcia to extract data, and he was still missing the day-to-day info needed to run his business effectively! Here’s What Happens When Your Chart Of Accounts In QuickBooks is Well Organized At the same time, she was also juggling plates, hats, and frying pans. Poor Marcia… The official ‘keeper of data.’ She was trying to respond to the needs of managers and her boss. (And Marcia didn’t know how.)Īs a result, every time David (or any of the company’s managers) needed financial information, it took a huge amount of work to extract useful results from the hodgepodge of accumulated data. Why?ĭavid’s company had never set aside the time to design a “smart” QuickBooks Chart of Accounts. In this situation, what David didn’t realize was that his request was far more difficult than it sounded. Sigh.) About Your QuickBooks Chart of Accounts… (His tone implied that Marcia was not capable of doing her job. “Tomorrow?” David asked incredulously – with extra emphasis – his reaction when he was frustrated. I’m hoping that “tomorrow” is even possible, given what’s already on my plate for today…” Then I have to convert that information into a report that will give him what he’s looking for. It will probably be tomorrow before I can get that information put together.” Although she responded calmly, she was frantically thinking, “Finding that info is going to be a real hassle! I’m going to have to look through a whole boatload of this year’s data entries. “I’ll see what I can do, but it’s going to take some time. But she did her best to maintain a composed exterior. She groaned inside because she knew she would have to disappoint him (again!). He’s calling this afternoon, so can you pull that together for me while I’m at lunch?”ĭavid’s company was a fairly small business, and Marcia was the multi-tasking Office Manager and sole bookkeeper. I’d like to know how much we’ve already spent on marketing this year. The guy who was running it is offering a special, limited-time program – so I need to make a decision right away. “I just got back from that conference in Vegas, right? Well, while I was there, I went to a very cool marketing class. Before he even spoke, Marcia thought, “Now what?”Īs usual, he was in a hurry. Marcia was in the middle of sorting the day’s incoming mail when David, her boss (the company owner), popped into her office. What Happens When Your QuickBooks Chart Of Accounts Is Poorly Organized I’ll give you a step-by-step description of how to do that in a moment. In fact, a poorly developed Chart of Accounts can literally cost you hundreds or even thousands of hours of wasted time each year.Īll of that pain could be corrected if you just used a “smart” Chart of Accounts. It determines whether your QuickBooks data will be much harder – or much easier – to work with. How you set up your Chart of Accounts in QuickBooks is one of the most important decisions you can make. What unfortunate events can occur when it isn’t set up in the best possible way? Your QuickBooks Chart of Accounts is the foundation for your critical company reports.
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