Comments

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  Apostle Trina Davis August 6, 2020 at 7:17am

  How should I record my business transactions?

  A good recordkeeping system includes a summary of your business transactions. Business transactions are ordinarily summarized in books called journals and ledgers. You can buy them at your local stationery or office supply store. 

  A journal is a book where you record each business transaction shown on your supporting documents. You may have to keep separate journals for transactions that occur frequently.

  A ledger is a book that contains the totals from all of your journals. It is organized into different accounts. 

  Electronic Records: All requirements that apply to hard copy books and records also apply to business records which are maintained using electronic accounting software, point of sale software, financial software or any other electronic records system. The electronic system must provide a complete and accurate record of your data that is accessible to the IRS.

  Whether you keep paper or electronic journals and ledgers and how you keep them depends on the type of business you are in. For example, a recordkeeping system for a small business might include the following items: 

  • Business checkbook
  • Daily and monthly summary of cash receipts
  • Check disbursements journal
  • Depreciation worksheet
  • Employee compensation records

  Note: The system you use to record business transactions will be more effective if you follow good recordkeeping practices. For example, record expenses when they occur, and identify the sources of income. Generally, it is best to record transactions on a daily basis. For additional information on how to record your business transactions, refer to  Publication 583, Starting a Business and Keeping Records.

  About Publication 583, Starting a Business and Keeping Records | Internal Revenue Service

  Publication 583 provides basic federal tax information for people who are starting a business. It also provides information on keeping records and il…
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  Apostle Trina Davis August 5, 2020 at 2:28pm

  Your The Breath Of My Soul, The Life Of My Bones, The Only One My Heart Wants To Know... I Love You My Bridegroom King
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    I Am A Ruby Network > Apostle Trina Davis August 5, 2020 at 10:40pm

    HalleluYAH, bless you Apostle Trina. Give Adoration, to your Beloved. Your Bridegroom, Your Majesty. 
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      Apostle Trina Davis > I Am A Ruby Network August 6, 2020 at 5:56am

      Praise God
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  Apostle Trina Davis July 28, 2020 at 7:41am

  2 Peter 3

  10 But the day of the Lord will come like a thief, and then the heavens will vanish with a [mighty and thunderous] roar, and the [material] elements will be destroyed with intense heat, and the earth and the works that are on it will be [b]burned up.

  11 Since all these things are to be destroyed in this way, what kind of people ought you to be [in the meantime] in holy behavior [that is, in a pattern of daily life that sets you apart as a believer] and in godliness [displaying profound reverence toward our awesome God], 12 [while you earnestly] look for and await the coming of the day of God. For on this day the heavens will be destroyed by burning, and the [material] elements will melt with intense heat! 13 But in accordance with His promise we expectantly await new heavens and a new earth, in which righteousness dwells. 14 So, beloved, since you are looking forward to these things, be diligent and make every effort to be found by Him [at His return] spotless and blameless, in peace [that is, inwardly calm with a sense of spiritual well-being and confidence, having lived a life of obedience to Him]. 15 And consider the patience of our Lord [His delay in judging and avenging wrongs] as salvation [that is, allowing time for more to be saved]; just as our beloved brother Paul also wrote to you according to the wisdom given to him [by God], 16 speaking about these things as he does in all of his letters. In which there are some things that are difficult to understand, which the untaught and unstable [who have fallen into error] twist and misinterpret, just as they do the rest of the Scriptures, to their own destruction. 17 Therefore, [let me warn you] beloved, knowing these things beforehand, be on your guard so that you are not carried away by the error of [c]unprincipled men [who distort doctrine] and fall from your own steadfastness [of mind, knowledge, truth, and faith], 18 but grow [spiritually mature] in the grace and knowledge of our Lord and Savior Jesus Christ. To Him be glory (honor, majesty, splendor), both now and to the day of eternity. Amen
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  Apostle Trina Davis July 28, 2020 at 3:06am

  Aplos Accounting Software is my first choice, because of the in-depth features it has for nonprofits and churches and small businesses. Aplos Software serve Nonprofits: Nonprofit CRM, Donor management, Fund Accounting, Member Management, Fundraising tools, Online donations & payments, Marketing & Communication, Event registrations, Payroll, Website builder, Reporting & analytics; Churches: Church management, Church accountant software, online giving & tithing, marketing & communication, event registration, payroll, website builder, report & analytics; They serve  Accountants, Bookkeepers, Home Owners Associations, Schools & Education, Sports Organizations. 

   APLOS ACCOUNTING SOFTWARE

  Pros:

  • Easy to use anytime, anywhere, and no prior accounting experience is necessary to grasp the concepts and program features
  • Specifically designed to quickly input transactions and generate professional reports
  • Easily able to accept online donations and track them for contribution statements

  Features include:

  • Accounts payable and receivable
  • Fund Accounting
  • Activity tracking
  • Bank reconciliation
  • Budgeting and forecasting
  • Donor management
  • Good tracking for people databases
  • Relatively good pricing depending on what you need. (Basic package is $25 a month, Standard is $40, and the “The Works” package is $60)
  • Free support training! Free Trail! Highly recommended and warmly praised customer service

  Cons:

  • Relatively simple… almost too much to the point where it lacks in specific and vital accounting elemental areas
  • Does not support assets management, compliance management, partnership accounting, or purchasing and receiving
  • Not readily available in any other country except the United States
  • Does not support multi-currency features (which I personally believe is essential for non-profits and churches who receive donations on a worldwide basis)
  • Runs on PayPal integration only
  • Cannot export into Excel (only PDF)

   

  I also like QuickBooks, this is my second choice. 

  2) QUICKBOOK ACCOUNTING SOFTWARE: SUGGESTED FOR SMALL INDUSTRIES 

  QuickBooks don’t have fund accounting(Fund accounting is a system of accounting widely used in non-business entities, such as nonprofits, government agencies, churches, hospitals and colleges and universities. Fund accounting differs from traditional business accounting, which focuses on identifying how successful an entity has been at creating profits).

  Pros:

  • Highly Popular: it was voted the most widespread accounting software program package in 2010.

  Features include:

  • Accounts payable and accounts receivable
  • Payroll
  • Inventory and invoice
  • Checks/credit processing features
  • Provides direct online access so you can network with others to get any questions or complications addressed immediately
  • Quite low cost $199.95 for the desktop version.
  • Free trial period.

  Cons:

  • Specifically designed for small businesses, which could be a “pro” for some and a “con” for others depending on what is needed for your company
  • Caters to companies with very limited accounting needs, and therefore, doesn’t offer many accounting processes used by professionals
  • Has had several problems with online security: if you use the online version of QuickBooks (which most people do) you run the risk of exposing important financial information to internet hackers and the general public
  • Limited in the number of products you can list for inventory purposes. 

  FREEAGENT ACCOUNTING SOFTWARE- 

  Pros:

  • Cheap depending on your business needs ($24 per month… so $288 a year, if my calculations are correct)
  • Famous for its incredible invoice templates
  • Shows your real-time profit position and it automatically updates your accounts.
  • Cloud-based, so there is no software to download or install

  Features include, but are not limited to: 

  • Estimates and proposals
  • Invoice templates
  • Simple payroll and automatic back feeds
  • Tax timelines (you’ll never miss a deadline again!)
  • Self-assessment tax return filing
  • Unlimited users and transactions
  • Support accountants are available to answer any questions
  • First 30 days are free!

  Cons:

  • Online help, known as “My Business Works Support” has been known to be rather unhelpful and excessively rude
  • Tends to receive “bugs” or “glitches” that often take time to repair, if fixable at all
  • Even though this program offers Multiple Currency options, the proper support for this feature is seriously lacking
  • Not very quick with software updates (some have been waiting years for new and desired features). 
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    I Am A Ruby Network > Apostle Trina Davis July 28, 2020 at 10:33am

    Blessings and GM Apostle Trina, how are you doing on this Triumph Terrific day? Thank you for sharing this Dynamic business tools 🔧 pro's and con's, with us. 
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      Apostle Trina Davis > I Am A Ruby Network July 31, 2020 at 11:32pm

      Praise God, Thank you... 
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  Apostle Trina Davis July 19, 2020 at 10:43pm

  
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    Prophetess Domonique Smith > Apostle Trina Davis August 1, 2020 at 3:04pm

    beautiful poster love it describes you to a T...Apostle Trina