Quickbooks and Your Chart of Accounts

Understanding how your business is making or losing money throughout the year is the way to a financially viable operation. A clear profit and loss statement can quickly inform how your fixed and variable expenses impact your profits. It also creates a clear and comparable template for your budget. The key to creating an efficient and accurate accounting system begins with how you set up your chart of accounts for your agriculture business. This will optimize the utility of your financial data in order to drive reports that inform your understanding of the business’s financial health throughout the year. The goal is fewer clicks, less spreadsheet work, and better information for making decisions!