Quote: (03-31-2017 11:51 AM)Phoenix Wrote:
Question: do there currently exist any automatic systems for forcing accounting procedures? I.e. when you make a purchase, receive a payment etc, it dumps those into a stack of "to-account-fors" in your accounting software? Or makes you immediately account for it?
Or does everyone still just manually do it by reconciling line by line against a bank statement periodically?
Pretty much every comprehensive accounting system offers the ability to interface various subledgers into your general ledger. For example, an Accounts Receivable subledger/module, where issuing an invoice to a particular customer triggers recording an entry to your AR GL account and revenue or deferred revenue; or a cash subledger, where by sorting through and categorizing your cash receipts and disbursements it will almost entirely take care of the ledger entries for you. If you don't have a lot of unusual nonrecurring transactions, it ends up being fairly foolproof if you know what you're doing.
Of course those normally add ons to your annual license cost. I'm guessing you're asking in relation to small scale operations, where you're the owner/operator and also serve as your own bookkeeper and tax preparer?