When I visit a business and ask to see the balance sheet.
I normally get a sort of funny look, and then they say “ah, well, my accountant normally looks after that”
Then they go on to tell me how worried they are about their business.
At this point I explain why I need to see a balance sheet and hopefully if they don't have one, I explain how we will build one for them.
However, we have learnt that most small start-ups don't really have a proper accounting system, what they have is an accounting system they have bought off the web.
The result is that when I ask them for a balance sheet, if they have one, they show me what they think is their balance sheet. Then I have to tell them that they don’t have a balance sheet, certain things that should be there aren't and other things that are there but shouldn't be!
Now, they look really concerned, they don't know what's right, what’s wrong and they don't know what to do.
This is where Think Cash comes in, we are trained and fully registered QuickBooks instructors, we understand how accounting works. This means that we are here ready and able to help those organisations that get into this hole, and much more importantly those who are about to buy an accounting software package.
Therefore, if you know of anybody who's:
· just started their business,
· doesn’t know how balance sheets work
· has bought an accounting system online and are not quite certain whether they have it right or have it wrong,
Please send them to us at www.think-cash.co.uk.
That’s what we do at Think Cash!
To help we have a simple video that explains a Balance Sheet in 60 Seconds at