Wednesday, April 21, 2010

Accounting Made Simple

The fantasy of entrepreneurship is a popular day dream for many people. Things become a bit overwhelming when it comes to sorting out the mundane functions of making the dream reality. There are many great websites filled with information on getting started with marketing efforts, building your brand, customer service, and social media usage. In the excitement of gathering together this wealth of information entrepreneurs tend to overlook one particular facet of the business start up – accounting!

For those that possess a healthy start up fund, company accounting may be a simple task of hiring an accountant to handle financial details. The reality for the company start up with minimal funding can be a bit more daunting. It takes a very special kind of personality to find accounting an exciting endeavor. Most budding entrepreneurs would prefer to focus on marketing and customer interaction, so when the process of selecting an accounting system starts the headaches sometime begin.

With everything trending toward digital, the natural impulse is to head to the software aisle at the office store. However, the not so technically inclined may find this journey both confusing and costly. An option outside of the technical realm is a product line made popular with business professionals over the past 50 years – the One-Write Check System.

A bit more “old school” in styling, this system is simple, efficient, and cost effective. For a true company start up with no system in place, consider purchasing a Starter Kit that contains all of the necessary ingredients for your basic accounting needs. Starter Kits traditionally include a folding board (aka: peg board), journal sheets, company imprinted checks, and coordinating envelopes. These elements together allow you to write a company check while simultaneously logging the check on the journal sheet. This process keeps your accounting records tidy and updated. In place of hand addressing or warming up your printer, coordinating envelopes allow you to simply insert the check and add postage.

True to its name, the folding board folds together to keep the paper elements (journal sheets and checks) in place and protected for safe storage and/or easy transit. Customized elements and kits are available to ensure your selected system meets the specific needs of your company. As business begins to boom, you can elect to continue use of this system for your accounting needs or upgrade to an accounting software system. Companies requiring “on the run” check writing can utilize both the One-Write Check System and selected accounting software enable them to meet their day to day business needs while still maintaining clean account records.

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