Archive for August, 2005

Entering Your Accounting Data Manually into your General Ledger

Some accounting packages and software are integrated with different modules, such as accounts payable and accounts receivable. In most cases, you should be able to record most of your cheque (accounts payable and bank cheque) transactions as well as your sales (accounts receivable and deposit) transactions. In any monthly accounting process, besides these screen oriented and often visual modules, you will have to make adjusting journal entries on occasion.

When I prepare year end financial statements for my clients, I usually receive the information in two different ways:

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Free Business Envelopes!

I print my own business cards. Years ago, I had created my own business card on Microsoft Publisher. I have been involved in many conversations, maybe even borderline arguments! regarding whether or not I should be just ordering professionally printed business cards, or continue to print them myself.

I now print them on Avery InkJet #38873 “Clean Edge Linen Textured Business Cards” (white stock). On the Avery website, you can even download pre-designed templates and create from the MS Word software.

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Meme - Random 10 - Week 19

From: musicmemoirs.blogdrive.com/ blogsite:

Random 10 - Week 19

10 songs that sum up your weekend…or were on your weekend playlist…and one picture that relates back. (oh, and if you feel like it, tell us why you picked the songs you did)

I have no songs that sum up my weekend, but I have been up early and listening to my MUSICMATCH library of over 3,200 songs (mp3, wma, wmv, etc) on shuffle play. Believe it or not .. these were the first 10 songs that came up this morning…. I stopped listening at #23 when it started hitting the weird songs.

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Meme - Top five “colorful” songs - Week 34

From: musicmemoirs.blogdrive.com/ blogsite:

Top Five On Friday - Week 34

Top five “Peace”ful songs. (Interpret as you like)

In Alphabetical Order … (I’ve added links to Amazon - if curious.. they have links to play samplings of song)

1) Black Sabbath - “War Pigs”
Paranoid

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Meme - Photo - “WEATHER”

From: www.spunwithtears.com/thursday.html

Thursday Challenge NOW POSTING for 25AUG05

CURRENT Theme is “WEATHER”
(Rain, Rainbow, Lightning, Snow, Clouds, Hail, Puddles, Wind, Storm,…)

I submitted the picture below from my PetLvr.com Photo Gallery .. which was forwarded to me. It is a picture of a tornado in Altona, Manitoba, Canada.

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Digital Phone .. I don’t get it.

Revolutionary changes are occurring today in both telecommunications and information technologies.

According to www.fcc.gov/cgb/consumerfacts/voip.html page

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Prepaid Expenses

According to Canada Revenue Agency:
IT-417R2 Prepaid Expenses and Deferred Charges

¶ 2. A prepaid expense occurs where an outlay or expense has been made or incurred by a taxpayer in a particular taxation year and it represents, for example, all or part of the cost of services which will be provided to the taxpayer after the fiscal year end. For example, a premium paid in advance to obtain a fire insurance policy, which provides protection for a period extending beyond the year in which the expenditure was made, is one type of prepaid expense.

Prepaid expenses usually play part-in-parcel with the “Accrual Accounting” concept of accounting and bookkeeping. Expenses are deductible in the business - made in anticipation of profit. Profit would normally be taxed on a fiscal or calendar year basis. The government doesn’t want you to deduct next year’s expenses against this year’s income. It’s common sense.

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HART’s - Chart of Accounts

As discussed in a previous blog entry, I really do have a completely insane and overly organized chart of accounts for myself and my wife. I keep track of everything. I obtain receipts for everything. It is a hellish nightmare getting current and I usually file our income tax returns on the evening that they are due! Every year I make it a point to include everything, and once I have everything documented .. I have a complete set of financial statements. These statements include:

  • All of our major assets, at cost, including our home and stuff in it
  • All of our investments, both registered and non-registered, at market value
  • All of our loans, credit cards and other debt balances
  • “A Partnership Statement” showing all of our personal house expenses
  • “A Proprietor Statement” showing all of HART’s business expenses
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    Meme - Shall We Band Together?

    From: www.livejournal.com/community/thefridayfive/

    Shall We Band Together?

    1. What if any instrument do you play?
    2. If you could choose to play an instrument what would it be?
    3. If you were in a band, what would your band’s name be?
    4. What type of music would your band play?
    5. Would you continue to be good for years to come, or would you and your band end up in Branson playing for bus loads of elderly?

    1. What if any instrument do you play?

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    Meme - Photo - “HANDS”

    From: www.spunwithtears.com/thursday.html

    Thursday Challenge NOW POSTING for 18AUG05

    CURRENT Theme is “HANDS” (Fingers, Fingernails, Mehndi, Gloves, Mitts, Rings, Lotion, Prayer, Sign Language, Gestures, Cards, Handwriting, Paw,…)

    I submitted this picture from my PetLvr.com Photo Gallery ..

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