accounting software helps you with the 3 R's . . . RECORD RECONCILE REPORT . . . Record your transactions . . . Reconcile your transactions with your bank statements . . . Reports for your accountant to use for income tax returns and financial statements if you need them. And reports for you to see where your money went!
You record & reconcile cash transactions. Then you
report summaries of those transactions to your accountant
who prepares your annual tax returns, etc.
Your accountant will post the general ledger account
summaries of transactions to a working trial balance
if you require a balance sheet and profit loss.
If you only need an income tax schedule your accountant
will simply post the expense accounts directly to
your tax returns. And will post your balance sheet
accounts to a depreciation schedule, etc.
There are training videos that may be downloaded
from http://www.acnsof.com
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