The business is an activity that is undertaken by the owner to earn profit and his living hood. Every person who is conducting any activity that generates a profit for him is known as business activity. The business can be of many kinds and it may also vary in the scope as well. The basic types of business are as follows:
These are the three types of activities that may generate profit for a person and he may earn his day to day livings from these three basic activities. A person who belongs to any of the above mentioned groups ultimately earns profit either by selling his product or by selling his services, so we can’t distinguish services from the business.
Now the question is how a business man can come to know that what he had earned from his business and how he can improve his earnings? He may also want to know if he has lost something. All these questions matter a lot for a real business man, he always keeps on looking forward answers to them. To get the real picture of the business a proper accounting record should be maintained. Here the question may arise that what is accounting? And what are accounting records?
Accounting is a process of recording, summarizing, presenting and interpreting all the business transactions happened within a certain period of time. Since the start of business activities the accounting of the transaction took place. It is just like we say necessity is the mother of invention so the need of maintain the transaction history forced businessmen to generate such a system that could facilitate them in carrying out the future transaction. This need of the time gave birth to the accounting system. There are two types of accounting system prevailing till now.
Manual system is to enter and record the transactions manually in the books and registers and then draft financial statements from those records. It is an old way and now everything is computerized so computer has made it easy to enter, maintain and draft accounting reports easily and effortlessly.
Accounting records are the systemized and summarized history of business transactions that are used to draft different financial statements i.e. Trial Balance, Profit & Loss A/C and Balance Sheet etc. All these records can be maintained easily in computerized systems with less effort. These computerized systems automatically generate periodic financial statements. User may also get a statement manually by requesting to system as per need of time.
Accounting software is program that enables a user to record his transaction in computer. This software helps the user to record the transactions and then it takes the further steps on its own. In manual accounting system the accountants were used to enter the records the drag them to the end of whole accounting process while now the computerized systems help an accountant and facilitate him in many ways. He just needs to enter a transaction and the remaining accounting process will be carried on by software itself.
There are many accounting software prevailing in the market. They offer different features and options to the user to attract him. All of them are good in many ways but some are better because of their easy understanding and user friendly atmosphere. All the accounting software mainly base upon the basic accounting rules but they differ only as per the nature of business. Some software give general atmosphere that can be adapted and adopted by many business as per their business rules while some give specialized atmosphere for a certain business. That’s why choosing accounting software for the business is also a big deal and all the factors should be taken in mind.
There are several accounting programs available in the market but the most famous are QuickBooks and peach tree. The basic purpose of both of them is to enter and maintain the business records. The main difference between both is environmental difference. QuickBooks give better and easier user friendly operation that’s why accountants are tending towards it rapidly. It is not complex like peach-tree. Peach-tree is not that bad but it is just a little complex so it sometimes makes accountants annoyed.
QuickBooks Accounting Software:
The devoted team of the accountants at Nimble Web Solutions works on almost all the accounting software available in the market but according to the changing trends they are focusing more on QuickBooks. They have a vast experience and ultimate expertise in the QuickBooks. Currently they have many clients for whom they are providing accounting services at QuickBooks 2008 and 2011. These clients belong to different fields of life. They are from HVAC industry, Production business, trade business and some of them are professional consultants like real estate consultants. They have all the expertise in maintaining records, payroll, inventory, receivables, payables and tax treatments as well. Due to their versatile expertise and grip on the software the clients are fully satisfied and they are appreciating the team a lot.
The team of professional accountants here at Nimble Web Solutions also forecasts the business costs and revenues and provides a budgeted balance sheet to the clients so that before starting a business they could know the expected profit or loss of the business. In this way they give a full business consultation as well. They also have better ideas of carrying out business activities so that the profits of the business could be maximized and their costs could be minimized. They also share techniques and guide the local accountants of the business about the proper maintenance of the accounting records. They also give handy tools and tips to the business executives about preventing forgery and misstated business figures. All the beneficial services are now available under the same roof at the affordable cost. You should share your business and accounting problems and provide a chance to the Nimble Accountants to drag out a good and effective solution for you. We promise to provide the best at the most affordable cost.