is excel good for accounting?
I'm going to use a powerful accounting software! and i want to know if excel is suitable for accounting and meets all of my needs for accounting. if no so let me know your suggestion. Thanks for your help
Other - Business & Finance - 3 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Of course!!! It is the mostly used software for accounting..HECK, IT IS FOR ACCOUNTING!!!
Answer 2 :
Excel is a better spreadsheet than 99% of people need. You could at a pinch prepare accounts on it but it's better for other purposes costing, budgets and homework. It isn't an accounts package. You can download a free trial from microsoft or the free alternative and nearly as good open office suite to see what you will get. If you want a powerful accounts software you could try something like sage ( we use line 50). I suspect you need a cheaper package than that but i have no experience with those. Try downloading trial versions if you can find them.
Answer 3 :
It is perfect for accounting with all its formulas for converting vat into percentages, and sumif,countif, cell highlighting, and a thousand other things, you cannot go wrong.
Read more other entries :
Tuesday, August 7, 2012
Wednesday, August 1, 2012
How to account for Cost of Sales in a service industry?
How to account for Cost of Sales in a service industry?
I run a small business which is a video production company, and have a point of confusion about account records: most literature I have seen is geared towards businesses which buy stock, and sell it at a profit. That is not appropriate for me as a service industry, as stock purchases are minimal - we buy blank media but we sell those along with production services. However we do have plenty of 'cost of sales' - my question is, should these be counted as 'stock purchases' in the various conventional accounting templates? To add to the confusion, cost of sales are more often than not services themselves, such as hiring in equipment or freelance personnel, or using couriers or duplication companies. Perhaps someone could recommend a book on accounting for service industries, especially creative! As it's very annoying never fitting in with examples books give..... But if someone could just give me an idea of how to analyse those expenses I'd be very grateful.... Ta! Thanks! Jay A's answer, though amusing, is wrong. He is referring to fixed costs. Which are separate from stock purchases, which are a cost of sale factor.
Other - Business & Finance - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Cost of sales has nothing to do with stock purhase. The cost of sales is the cost of paying your employee's, your rent factor ( taxes, rent, utiities, etc. and your interest payed on your inventory). Add all these things up and they are your cost of sales. If you need someone to manage your business for you, and it sounds like you do, give me a call.
Answer 2 :
a cost of sale is a direct cost of something in order to make a sale as rightly stated by urself it is mainly attributed to purchase of stock for resale along with such costs as packaging and carriage. with regards to your business, what do you have to buy in order to produce these videos? any consumable items like dvds, tapes, etc.. if your purely a service business then it maybe you dont have any cost of sale and all you costs are fixed costs. would need a bit more info on the types of expenses incurred in order to see if any can be classed as cost of sale. at the end of the day it doesnt really make much diff as its really only for disclosure purposes in accounts and on tax returns etc.. best thing to do is buy sage line 50 and do it on the computer, this has all the codes of where to put expenses and does all the reporting u need. visit www.sae.co.uk . it would cost you about £150 depending on what package u go for.
Read more other entries :
I run a small business which is a video production company, and have a point of confusion about account records: most literature I have seen is geared towards businesses which buy stock, and sell it at a profit. That is not appropriate for me as a service industry, as stock purchases are minimal - we buy blank media but we sell those along with production services. However we do have plenty of 'cost of sales' - my question is, should these be counted as 'stock purchases' in the various conventional accounting templates? To add to the confusion, cost of sales are more often than not services themselves, such as hiring in equipment or freelance personnel, or using couriers or duplication companies. Perhaps someone could recommend a book on accounting for service industries, especially creative! As it's very annoying never fitting in with examples books give..... But if someone could just give me an idea of how to analyse those expenses I'd be very grateful.... Ta! Thanks! Jay A's answer, though amusing, is wrong. He is referring to fixed costs. Which are separate from stock purchases, which are a cost of sale factor.
Other - Business & Finance - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Cost of sales has nothing to do with stock purhase. The cost of sales is the cost of paying your employee's, your rent factor ( taxes, rent, utiities, etc. and your interest payed on your inventory). Add all these things up and they are your cost of sales. If you need someone to manage your business for you, and it sounds like you do, give me a call.
Answer 2 :
a cost of sale is a direct cost of something in order to make a sale as rightly stated by urself it is mainly attributed to purchase of stock for resale along with such costs as packaging and carriage. with regards to your business, what do you have to buy in order to produce these videos? any consumable items like dvds, tapes, etc.. if your purely a service business then it maybe you dont have any cost of sale and all you costs are fixed costs. would need a bit more info on the types of expenses incurred in order to see if any can be classed as cost of sale. at the end of the day it doesnt really make much diff as its really only for disclosure purposes in accounts and on tax returns etc.. best thing to do is buy sage line 50 and do it on the computer, this has all the codes of where to put expenses and does all the reporting u need. visit www.sae.co.uk . it would cost you about £150 depending on what package u go for.
Read more other entries :
Saturday, July 28, 2012
which course is better to go into a career in finance Accounting &finance and economics or?
which course is better to go into a career in finance Accounting &finance and economics or?
maths, management and economics thanks
Higher Education (University +) - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
I think that Accounting &finance is best./
Read more other entries :
maths, management and economics thanks
Higher Education (University +) - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
I think that Accounting &finance is best./
Read more other entries :
Saturday, July 14, 2012
Did anyone do accounting 4 A level @ School? If so how useful has it been in the "real" world?
Did anyone do accounting 4 A level @ School? If so how useful has it been in the "real" world?
Other - Business & Finance - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Not very, but then, how many of your subjects are useful in the real world? If you are good with numbers, then do it, if not stick to a subject you enjoy.
Answer 2 :
will be good to know if you decide to do accounting, or get into that field.
Read more other entries :
Other - Business & Finance - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Not very, but then, how many of your subjects are useful in the real world? If you are good with numbers, then do it, if not stick to a subject you enjoy.
Answer 2 :
will be good to know if you decide to do accounting, or get into that field.
Read more other entries :
Saturday, July 7, 2012
Tips on studying accounting?
Tips on studying accounting?
ANy special tips for studying accounting other than read all the information, practice writing all the financial reports (Balance sheet, Income statement, etc etc) I have an exam on friday. Thanks
Higher Education (University +) - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Focus on studying what was taught, and not related information Find out the contents and format of exam, and study for that. Focus on high-mark areas.
Read more other entries :
ANy special tips for studying accounting other than read all the information, practice writing all the financial reports (Balance sheet, Income statement, etc etc) I have an exam on friday. Thanks
Higher Education (University +) - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Focus on studying what was taught, and not related information Find out the contents and format of exam, and study for that. Focus on high-mark areas.
Read more other entries :
Sunday, July 1, 2012
any site which help to make money in the field accounting?
any site which help to make money in the field accounting?
Small Business - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
You mean affiliate marketing if so search accounting in Google and see the top 10 website if they have affiliate market and join them. If you looking for non accounting business that will generate an income immediately go to http://www.earnwhileyousleep.net
Read more other entries :
Small Business - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
You mean affiliate marketing if so search accounting in Google and see the top 10 website if they have affiliate market and join them. If you looking for non accounting business that will generate an income immediately go to http://www.earnwhileyousleep.net
Read more other entries :
Thursday, June 28, 2012
university or accounting career after a-levels?
university or accounting career after a-levels?
i have a dilemma which I would appreciate any advice on. Basically, I would like a career in accounting but am unsure which route to take. I can either move straight into a career after A-Levels and study for the relevant qualifications or start after graduating from university. To the uniformed reader the former may seem the logical choice but I'm not absolutely sure accounting is what I want to commit to. I would appreciate comments from people who know the difference between degree holders and non-degree holders in progressing in the accounting career with the relevant professional qualifications.
Other - Careers & Employment - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
In response to the second part of your question, i.e. the difference between progression in accounting careers relating to whether you hold a degree, as a recruiter I can tell you that in the UK there isn't much difference and with or without a degree you can progress equally. Those who don't hold degrees may ultimately earn a little less but not much. However, this is not the case in other countries so if you ever plan to work overseas be advised that you will definitely need a degree to progress. Having said that as a recruiter I know that the opportunities are equal, when it comes to hiring staff for my own organisation I would only hire degree-educated people. Those who have been to university tend to have far better soft skills such as written communication, and ability to relate to others. It's true that they're not so important in an accounting job as in other jobs, but they still count for a lot. Basically, if you have the opportunity to go to university then I would do that. It's a great life experience and it's fun, if nothing else. And as you say, you are not quite sure that you want to commit to accounting. Four years at this stage in your life while you're still young really isn't going to set you back, and you may very well spend the rest of your life wishing you'd gone to university.
Read more other entries :
i have a dilemma which I would appreciate any advice on. Basically, I would like a career in accounting but am unsure which route to take. I can either move straight into a career after A-Levels and study for the relevant qualifications or start after graduating from university. To the uniformed reader the former may seem the logical choice but I'm not absolutely sure accounting is what I want to commit to. I would appreciate comments from people who know the difference between degree holders and non-degree holders in progressing in the accounting career with the relevant professional qualifications.
Other - Careers & Employment - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
In response to the second part of your question, i.e. the difference between progression in accounting careers relating to whether you hold a degree, as a recruiter I can tell you that in the UK there isn't much difference and with or without a degree you can progress equally. Those who don't hold degrees may ultimately earn a little less but not much. However, this is not the case in other countries so if you ever plan to work overseas be advised that you will definitely need a degree to progress. Having said that as a recruiter I know that the opportunities are equal, when it comes to hiring staff for my own organisation I would only hire degree-educated people. Those who have been to university tend to have far better soft skills such as written communication, and ability to relate to others. It's true that they're not so important in an accounting job as in other jobs, but they still count for a lot. Basically, if you have the opportunity to go to university then I would do that. It's a great life experience and it's fun, if nothing else. And as you say, you are not quite sure that you want to commit to accounting. Four years at this stage in your life while you're still young really isn't going to set you back, and you may very well spend the rest of your life wishing you'd gone to university.
Read more other entries :
Subscribe to:
Posts (Atom)