Accounting

I have been spending a lot of time trying to set up Quickbooks on my computer for our business and ended up checking out the book Quickbooks for Dummies by Stephen L. Nelson, from the library. It has been over a year since I had a college accounting course and I needed some help with some accounting points such as double entries.  I have been doing what the book calls “the fiddle-faddle” method of accounting but the only way I will keep things accurate and be able to do my financial statements is by making double entries. There are two main financial statements: the Income Statement (Profit and Loss) which keeps track of what comes in and what goes out and if there is profit in the end and the Balance Sheet which shows how my assets equal my liabilities and owner’s equity. Going through this process of setting up the books, I have been thinking a lot about money. In fact, money and budgeting have been on my mind a lot while listening to audiobooks such as Becoming my own Bank, Science of getting Rich, etc. One of the things that I have come to believe is that money is one of the few things in life we have complete control over. This is an empowering thought for me but some may balk at the idea. How could we have control when we are so out of control? My response is to take back the control! We give our control and power away to others by our choices. I gave my control away to fear of numbers but I have overcome that fear and now I can’t get enough of trying to figure out the budget, learn accounting, understand and work out our finances, etc. etc. Who else but ourselves decides we need something? What constitutes our living expenses? We do! We are in control and have to make an accounting for ourselves. I grew up knowing I shouldn’t be in debt but I didn’t grow up making friends with the idea of money. But money is just an idea and necessary commodity which I want and need in order to fully live and express myself. It should be one of the best friends that I have, helping me get to all the places I want to go! The first step I have learned I need to take is to figure out where I’m at right now. This has been taking me a while to figure out, but now I know where I’m at. The second step is to be grateful for where I’m at. This is a bit harder, especially if things look kind of ugly. But it is really empowering to be grateful and is essential in order to move forward. There are lots of things to be grateful for – even if things are ugly – such as time to fix things. I’m also grateful that there is something in life that I can have complete control over. I don’t have to give the control to anyone else! I take responsibility for my own actions and am willing to make an accounting for myself! I may have obligations that I have put myself under, but I can change my attitude about money. I know you can do this too if you haven’t already done it, because if I can do this, I believe anyone can!

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