Goals for 2004? New twist!

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Jean McLean

Jean McLean

CGF, Certified Grumble Framer
Joined
Feb 25, 2001
Posts
128
Location
Millinocket, ME, USA
Goals for 2004 are being asked right now. I have a big question and one we all have to deal with. Do you do your own paperwork? Do you pay all the bills and do your own taxes? I work hard all day long and the only time I can do any paperwork is at night. I have a house to keep up, meals to cook, camp to keep up, clean, husband to try to keep happy, etc. If I spend every night doing paperwork as probably many of you do...when do you find time to read or respond to Grumble? What am I doing wrong? Should I hire an office person so I can work in the frame shop and deal with customers more? I try to do it all and when my lights go out...will know it is time to pay my light bill! I have 2 part time employees and just wonder in amazement how those of you who have no employees can handle it all. I drink to you! Hmmm, who has time for a glass of wine? Yikes.
 
Jean,
I have a part time person that pays my bills, does my billing, filing, etc...She also runs errands, helps wait on customers in a pinch, checks in inventory, does the barcoding, phones customers and helps customers when they come to pick up their items. I find I can make more money by waiting on customers and doing the more difficult jobs in the back.

She has her own desk and I put the items to be done in a series of desk files--in most cases I don't even have to stop and explain what needs to be done. I still do the more "sensitive" paperwork.
 
I have an accounting firm that takes care of all my bookkeeping, taxes, parole information, etc. I pay all my bills, organize my daily sale receipts, make the bank deposits. We use Quick books Pro. Our accounting firm uses the same program. All our checks are written through the Quick books program. We pay our bills as they come in or when they are due. We pay a fee of $275.00 a month to the accounting firm. I spend about 3-4 hours a week on paperwork.

John
 
John: I DO hope that was "payroll" information and not "parole" info then again---cheap employees.

We use Quickbooks on a weekly basis, an accountant every quarter. Takes us about four hours to enter the stuff into quickbooks out of our Lifesaver database.

I would assume using both a POS computer system plus Quickbooks shortens the time; don[t know.

Running a small businesss is, after all, a 15 hr. per day job. Isn't that what makes it fun???
 
Yup, that was supposed to read "payroll". Being the worlds worst speller, I am totally dependent on that spell check program. I just wasn't paying close enough attention. I have however, gotten a few people out of the slammer in the past by guaranteeing them a job.

John
 
One of the most important things I learned to do early on was delegate.

My husband does the bookeeping. I pay the bills. I tried to do the books at first, but we quickly learned I have no head for numbers. If he didn't do them, a bookeeper would.

Around the shop, I see what my employees are good at doing, and what they like to do. So, Bud assembles frames, does easy jobs, empties the trash. Sarah fits, answers the phone, cleans, and handles pickups.

Around the house, my husband helps by doing alot of the cleaning-vacuums, sort-of dusts, cleans bathrooms (we have four). As long as I work, he is willing to help.
 
When a bill comes in, I check it out. If all is okay, it goes into a file. Once a week the bills due the next week are paid. I enter the check number, payee, amount and classification on a excel spread sheet where I maintain the checking account. This normally takes less than two hours a week.
Entering the information each week, saves me mountains of time at year end. I can do a sort by classification, put in a formula for each classification and have the numbers ready for our schedule C in one afternoon. Need to include cash receipts (very few) and credit card purchases and I'm set for the tax man.
I purchased Quicken for Business last week and spent yesterday morning entering data needed and learning the program. The jury is still out, but I think I like my home grown program better. I'm going to give Quicken an honest try this year - the plus side of the program is that it will print checks - and for some reason I HATE to write out checks.
 
Maryann, there are a lot more advantages than just writing your checks. If you diligently put all your vendors or payees information on the check, Address, in the memo part the account number, and then bring up that vendor or payee from your vendor list or other name list, you can put in their phone numbers, who to contact, etc. You will build a complete library of all your vendors.

When you log in a deposit you can also log in who exactly paid you that money, their addresses and phone numbers. You can build a complete customer file.

If you run absolutely everything through your Quick Books program, you can bring up monthly reports, balance sheets, etc. You can also have an instant report on exactly what you have paid any vendor over any length of time.

Once you get used to Quick Books, you will wonder how you ever got along without it. Oh yea, you can also make graphs on how your business is performing. I started using Quick Books in 1985, I can now make graphs or get reports going all the way back to then.

John
 
That's exactly my hope John. I think as we're growing, I need something like this. Since it was only Jan 4th, I didn't have much info to input. I plan on using it, and learning more of it's tools as the year marches on.

[ 01-05-2004, 12:41 PM: Message edited by: Maryann ]
 
The only thing my CPA does is my taxes.

I do my own book keeping, which, oddly enough, I kind of enjoy. I use the stand alone accounting program, Netbooks (Mac version of Peachtree). My wife used to do the books, but, in addition to her making a muddle out of it, I lost track of what was happening to the business itself. By entering invoices and paying bills myself, I feel I have much better control over (or, at least, a better knowledge of) the operation.
 
The only thing my CPA does is my taxes.

I do my own book keeping, which, oddly enough, I kind of enjoy. I use the stand alone accounting program, Netbooks (Mac version of Peachtree). My wife used to do the books, but, in addition to her making a muddle out of it, I lost track of what was happening to the business itself. By entering invoices and paying bills myself, I feel I have much better control over (or, at least, a better knowledge of) the operation.
 
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