Accounting Ledger Staples

[Skye Severy]

HomeSmall Business Accounting

As a small business owner you have more important things to do than to keepyour own books. We take care of your books for you, so you can get back to the job of running your business and generating profits.

These tasks form the solid foundation of your small businessaccounting system. You can customize the package of services youreceive by adding payroll, tax planning, tax preparation, or anyof our other services.

An income statement, otherwise known as a profit and loss statement,basically adds an itemized list of all your revenues and subtracts an itemizedlist of all your expenses to come up with a profit or loss for the period.An income statement allows you to...

Balance sheets, along with income statements, are the most basic elements in providing financial reporting to potential lenders such as banks, investors, and vendors who are considering how much credit to grant you.

The general ledger is the core of your company's financialrecords. These records constitute the central "books" of yoursystem. Since every transaction flows through the generalledger, a problem with your general ledger throwsoff all your books.

Having us review your general ledger system each month allows usto hunt down any discrepancies such as double billings or anyunrecorded payments. Then we'll fix the discrepancies so yourbooks are always accurate and kept in tip top shape.

We are always available to spend time with you so you fullyunderstand how to interpret and utilize the financialinformation we provide. Our consultations are already includedin our price, so please feel free to call us whenever you have aquestion or concern.

This unnamed grocer's daybook covers the period of September 25, 1888 to February 13, 1890. Most of the customers make frequent, even daily, purchases, generally buying only a few items of food at a time, with occasional pairs of shoes, chimneys, or snow shovels in addition. Prepared foods, such as doughnuts, cupcakes, tumblers of jelly, cookies, and rolls were sold along with basic staples - apples, eggs, oranges, raisins, butter, salt, starch, lard, chocolate, cheese, milk. The entries are preceded by numbers which probably refer to the patrons' accounts in the storekeeper's ledger.

The inside front cover bears a dealer's notation "Amherst ledger." While the possibility exists that this is an Amherst, Massachusetts grocer's account book (some of the family names are found in the Amherst Directory for 1895-Dickinson, Cowles, Doolittle, Knowlton, Pease, Rose, Hamlin, Hall, Holmes, Hunt, Parker), almost none of the particular members of the families listed in the account book matches a name in the directory. This seems to indicate it is unlikely that this is an Amherst, Massachusetts grocer. Perhaps the book was an item in a batch of materials from Amherst, New Hampshire, although very few of the family names appear in town histories. Further investigations might reveal this is from a town of another name altogether.

Cuba has announced that it's going to eliminate its two-currency system, which was meant to protect the Caribbean island's communist system. The government says the unification of the currency would happen in stages, but it provided no details.

DAVID GREENE, HOST: In Cuba, President Raul Castro is continuing his uphill effort to revive the economy and overhaul the socialist system he inherited from his brother, Fidel.Nick Miroff reports from Havana, his latest move is to scrap a dual currency system that made little sense to locals or visitors.NICK MIROFF, BYLINE: Two types of legal tender circulate on Cuba's streets, but neither of them has any value on international markets. The first is the Cuban peso, a virtually worthless currency that most state workers receive and is good for bus fare and basic food staples but little else.Then there is the convertible peso or CUC that Cubans call the kook and whose exchange rate is fixed to be worth more than a U.S. dollar. It's the currency of the tourist economy, introduced during the 1990s to substitute for dollars, and it is the only thing accepted at state-run stores selling imported food, appliances and just about everything else.Economists have long argued that the twin currency model was hobbling the Cuban economy and making a mess of accounting ledgers at state-run companies. Now the government has released a statement saying it will gradually eliminate the convertible peso, and give Cubans plenty of time to trade in the soon-to-be obsolete currency.Analysts expect this will probably drive down prices for tourism, while hopefully give ordinary Cubans a modest boost in purchasing power. The Cuban peso's exchange rate against the U.S. dollar will continue to be set by the government.For NPR News, I'm Nick Miroff in Havana.

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