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Bookkeeper, Public Accountant

 

Legal Applications of official Paper Shredder at accounting & bookkeeping Departments

Buying a Shredder

gbc shredder,shredmaster,paper shredder

Before buying a shredder for office use, it is important to understand what type of shredder is good for which application. The way shredders are traditionally purchased and sold is by an uneducated consumer talking to an uneducated dealer.

A typical consumer will open a catalog containing 10 or more shredders and think that they are all designed to meet various price points. THEY ARE NOT!!! They are designed to meet different applications based on the amount and type of materials the consumer needs to shred.

If you try to purchase a shredder to fit a predetermined budget you may wind up buying a desk side shredder that will be required to shred five or six cases of computer printout per week. The shredder doesn't perform well, or at least not for very long, and sooner or later you will be back in the market looking for another paper shredder that fulfills your exact requirements.

First of all, it is important to understand the application of shredders for different organizations and departments. For example:

• accounting & bookkeeping Departments shred documents like profit & loss statements, bills, audits, customer account records, financial statements, work sheets, letters of credit, tax records, delinquent accounts, checks, data processing.
• Paper shredder are used at Executive Offices for confidential documents, correspondence, agreements, contracts, executive reports, financial records, labor negotiations, committee reports, charts and graphs, periodicals, meeting proceedings.
• Clerical Departments have a use for paper shredders to shred letters, memos, telegrams, articles, bulletins, reports, announcements, archival data, customer records, vendor records, directories, routings, and files.
• Legal Departments need to shred contracts, correspondence, warranties, depositions, affidavits, pleadings, judgments, decisions, insurance files, promissory notes, cancelled checks, tax information, patent designs, and option agreements.

Depending on the work that is performed at your office, you should determine what types of documents should be shredded at your office. This analysis will give you an idea of how much paper will you shred in any busy day. You will also be able to figure out the size and type of paper that is used for the documents that you want to shred. Most importantly, you will be able to figure out whether your security needs will be fulfilled by a simple strip cut shredder or if you need a high security cross cut shredder.

There are distinct advantages to each type of shredder. A thorough understanding will help you in determining the most appropriate shredder for the application.You can find more details on how to choose a shredder at http://www.gbc-shredder.com . For further information, please contact:

 

The Next Revolution in the accounting & bookkeeping Industry

The next revolution in the accounting & bookkeeping industry, after the advent of computers and software, has some strange characteristics. This revolution could kill quite a few accounting & bookkeeping practices while create fortunes for those that survive. Many bookkeeper, public accountants are quite unaware of this coming revolution while they alert ones are taking advantage of it and running ahead with it. Very soon they will be way ahead and out of reach for others to catch on.

Paperless

Every industry goes through its natural phases of transformation. As time goes, new technology becomes available, and new processes are developed. Internal and external factors contribute to the transformation process of all industries. accounting & bookkeeping industry is not an exception.

Only a few years ago very few bookkeeper, public accountants used software to prepare tax returns for their clients. Some even considered it a pride that they were smart enough to prepare tax returns without using software. Within a few short years, almost every bookkeeper, public accountant in the country uses some kind of tax preparation software to prepare tax returns. Now it is not a question of whether an bookkeeper, public accountant uses software to prepare tax returns, but of which software the bookkeeper, public accountant is using. Times have changed significantly in the accounting & bookkeeping industry. Observant bookkeeper, public accountants may notice how fast things changed in their industry.

Unlike only a few years ago, it is almost unimaginable how any accounting & bookkeeping practice could function and survive without computers and accounting & bookkeeping software. There is probably not a single accounting & bookkeeping practice in the country that operates without computers and software for tax and accounting & bookkeeping. Only a few years ago, a large number of bookkeeper, public accountants did not consider computers or software as something that would be able to enter their industry. They thought nothing would replace their ability to prepare a tax return. They thought nothing could replace their ability to balance a trial balance and prepare financial statements out of it. Their denial has turned into widespread acceptance within a short time.

bookkeeper, public accountants are now in a new phase of denial. This time they deny that it is ever possible for an accounting & bookkeeping practice to operate without papers. They deny that it is ever going to be possible for bookkeeper, public accountants to operate without papers, period. There has been a lot of talk about paperless offices coming for years. Numerous articles have described how the world will change with paperless business operations. However, the predictions have not come true at the speed people were expecting. The topic lost its attraction over time. Thus, the denial of bookkeeper, public accountants that there could ever be a paperless office for them is justified.

The fact is that the paperless office is sneaking up on us. The technology that is required to convert business operations into paperless operations has become remarkably affordable. Small CPA practices can now go paperless with an investment of as little as $2,000, on their own. Times have changed significantly in this area but unfortunately, bookkeeper, public accountants are not noticing this trend.

The technology is available, affordable and quick. Yet there are thousands of bookkeeper, public accountants in the country, who are not even aware of this change coming in their industry. Just like it is unimaginable that an accounting & bookkeeping practice could operate without computers and software today, within a few short years, it will be unimaginable that an accounting & bookkeeping practice operates WITH PAPER.

The nature of this change is such that it could be devastating for many accounting & bookkeeping practices. When accounting & bookkeeping and tax software came about the process of adopting the change was not that difficult. You could go forward with a new way to operate very easily. You would purchase the software, train yourself and start using it, going forward.

Going paperless, however, is a culture change of a great magnitude. It brings about major changes in the way the offices work. It requires a major change in work flow processes. The conversion process also requires good planning and implementation. Conversion is not difficult but it does require special planning and attention. There is a significant revolution brewing in the accounting & bookkeeping industry, unnoticed by many, which could damage and kill many small accounting & bookkeeping practices, while make fortunes for others. It is the paperless revolution that could bury a few bookkeeper, public accountants under their own papers.

 

Understanding accounting & bookkeeping Vocabulary

The following article is an excerpt from the free online course "Using Finance & accounting & bookkeeping in Your Small Business".

When you learn something new like accounting & bookkeeping concepts and terms, it helps to create links between what you know and what you are trying to learn. In some ways, it is like learning a second language and decoding the new word is part of the learning process. For example, trying to translate the Spanish word necesario you might brainstorm with necessary - and y...

business, finance, small business, accounting & bookkeeping

The following article is an excerpt from the free online course "Using Finance & accounting & bookkeeping in Your Small Business".

When you learn something new like accounting & bookkeeping concepts and terms, it helps to create links between what you know and what you are trying to learn. In some ways, it is like learning a second language and decoding the new word is part of the learning process. For example, trying to translate the Spanish word necesario you might brainstorm with necessary - and you would be right. How about blanco? Blanco is like blank which is like white. So, blanco is Spanish for the color white.

Try to make some logical connections about the accounting & bookkeeping vocabulary. Take the word - accounting & bookkeeping - and think about it. Really, the accounting & bookkeeping system is a basic counting of what goes on in your business.

Let’s move on to transactions. Transactions are the business activities, or actions, that build day by day and become your expenses and income. Try to think about the term - transactions. Actions are business activities, and trans means across or thru. These are the basic building blocks of an accounting & bookkeeping system. Transactions are to accounting & bookkeeping like what raw materials are to a factory, or gasoline is to your engine - the transactions are real and how your accounting & bookkeeping system handles them impacts your business.

You must keep a record of your transactions to know how much money your business earned and how much money your business spent. Sounds obvious, right? Ask your bookkeeper or bookkeeper, public accountant how obvious some transactions are. It can get tricky quickly if you are not clear about what happened in the transaction and how you want it recorded.

For example, if you were a carpenter you might pay cash for a bucket of nails to assemble hand made wooden deck chairs. The nail purchase is a transaction and will have to be counted as a business expense. In your workshop, you then assemble the chair using a pneumatic nail gun, sand paper, stain and varnish. The next day you deliver the chair to a customer in a neighboring town. You hand the customer a sales slip and they then write you a check. That, too, is a transaction. It is easy to see the transactions when money is spent or received. Did you, however, see the other transactions?

The stain and varnish, nail gun use and chair parts were also part of the transaction. What about the gasoline and truck used to deliver the chair? Did you have any left over nails or did you use them all? Maybe there is a little life left in the sand paper but it is not new anymore, is it? If we do not account for those costs we are missing a piece of the picture-an important piece-that could affect how much money you have at the end of the year.

In all your business activities, try to think in terms of transactions because once you can identify what transactions occur in your business, you will be able to organize them into a meaningful manner. Right now, take a minute to list what transactions occur in your business each day, week and year. Always thinking in terms of transactions might seem miserly, but it is important to be cost-conscious and honest with yourself about all your transactions. Your success in business depends upon it.

Some transactions are initiated by customers and suppliers. Other transactions can take place inside your business or back office. The bookkeeping department creates transactions when they adjust your books for year-end considerations like machinery depreciation or inventory shrinkage.

What is depreciation? Let’s say you bought a brand new car, a 2006 Professor Now Coupe, and you spend $27,500 on this new car. Next year the car has some dings on the doors, wear on the tires, stains on the seats and 20,000 miles on the engine. You know your car is not worth $27,500 anymore. This means your car has lost value or depreciated.

When it comes to business owned equipment, you can deduct this lost value as a business expense. Sure, you did not spend cash on the lost value but with depreciation, this is a transaction your bookkeeper or bookkeeper, public accountant will force through at the end of the year. On your taxes, it helps you by increasing your expenses like all other cash transactions. Of course, the other side of depreciation means your equipment is not worth as much anymore.

In order for you to get a really clear picture of how your business is operating, you need to be diligent and thoughtful about what your real expenses are. Depreciation is a real expense even though it is not a cash transaction.

Learning to see transactions for what they are takes practice and contemplation. Transactions affect so many areas of your business that you must analyze the daily details so you can piece together the big picture.




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