If you are using QuickBooks for your business and want to prepare Financial Statements you may find the following information of value.
For more information about QuickBooks please check out my post that describes this very popular Intuit business accounting product.
For more information about Financial Statements please refer to my post describing them.
In July 2009 I attended the CalCPA Education Foundation course “Financial Statement Preparation for Your QuickBooks Clients”.
My notes below make a couple of assumptions on your part: first, you are using QuickBooks for your business, and, second, you wish to prepare Financial Statements from your QuickBooks data.
QuickBooks comes with some rudimentary financial statements but they are not prepared in accordance with Generally Accepted Accounting Procedures (“GAAP”). This is where your Accountant comes in and modifies your financial data in order to prepare your Financial Statements. The course I attended was to provide Accountant’s with some tools to prepare them, however, there are some tips I can pass on to the primary users of the QuickBooks accounting system.
– More to come – 8/3/09