Tuesday, December 06, 2011

Business and Finance

The year is winding to a close, and I look at my receivables and my payables (mostly payroll through the end of the year), and it looks like I'll be able to cover everything. Whew! Of course my books are in a total state of disarray as I neither let go of my laptop long enough for Becky to sort them out, nor do I keep them up myself. New Year's resolution: find an easier--i.e., more maintainable--accounting solution and process for me than ditzing around with Quickbooks. This will be (at least) the third year in a row where I have just thrown up my hands and said, "I'll gather more useful sales and expense data next year to use in analyzing the profitability of the various parts of my business", and I end up winging it again.

I have heard that Mint is a good solution for personal finances. I need to find something similar for business. What makes Mint so powerful is that it automatically downloads your data--you don't have to remember to do it before it's been archived by your bank's server. Yes, the data is usually available for download for at least three months--some would say more than enough time to download it into the appropriate financial management software--but if you happen to miss those three months then you have a very painful manual add and reconcile task on your hands. When that happens to me (as it usually does by June) I just give up till December when I spend two weeks manually inputting and balancing everything--or I beg Becky to mash it all together as best she can.

Of course the big downside to Mint is that it's made by Intuit--NOT my favorite company!


Cynthia Morgan said...

The other big downside is that once they have access to your financial info, you will get lots and lots of offers to buy new financial whatzits based on the intimate knowledge they now have of your checking, credit card, loans and other accounts, as well as who bills you for what.

Just sayin'

Bill said...

Creativity runs into financial wizardry. Oh, my...