Q&A: Accounting for my small business?

Question by Josh T: Accounting for my small business?
I know Peachtree/Quickbooks are the programs to use
but what does it really do?

Is accounting only to help out the owner? or is there legal stuff included?

Also, what’s the difference between what the cash register monitors and what i use the accounting program for?

Best answer:

Answer by beancounter
1. They help you to keep an accurate picture of your business financial situation and so help you make good financial decisions.

2. I’m of the opinion that accounting should be primarily to help the owner. That was the subject’s original use. But it’s also needed nowadays to comply with tax regulations.

3. For starters, the cash register doesn’t monitor the bills that you receive.

What do you think? Answer below!