The leaves are changing, the weather is cooling down, and pumpkin Spice Lattes are back at Starbucks. That can only mean one thing: it’s time to start thinking about what you’re thankful for. And since this is an accounting blog, we thought we’d take a moment to share what we’re grateful for in the world of finance.
1. We’re thankful for debits and credits. Without these two simple concepts, bookkeeping would be a nightmare. So next time you’re doing your monthly reconcile, take a moment to be grateful for the good old debit/credit system.
2. We’re thankful for double-entry accounting. This system of recording transactions in two separate but equal ledgers helps keep things nice and organized (and makes finding mistakes a lot easier). So if you ever find yourself getting overwhelmed by your finances, just remember that there’s a reason why double-entry is the standard in accounting.
3. We’re thankful for financial software. Gone are the days of maintaining complex ledgers by hand. These days, there are all sorts of great software options available to help small businesses track their finances (not to mention a slew of helpful apps and online tools). So whether you use QuickBooks Online or something else entirely, be sure to give thanks for financial software this Thanksgiving season.
4. We’re thankful for accountants! Of course, we would be remiss if we didn’t mention the profession that brings us all together: accounting. From bookkeepers to CPAs, accountants play a vital role in helping businesses keep their finances in order. So if you know an accountant, be sure to give them a big thank-you this holiday season!
I’m off to have some delicious Thanksgiving leftovers. From us to you and yours, Happy Thanksgiving!
Donna Harris holds a BSci in Accounting and an MBA, and is the owner of Bookkeeping Made Simple.
Donna Harris, BSci Accounting, MBA, founded Bookkeeping Made Simple with the understanding that small businesses is the heart of the American economy. After offering to do books for a friend who said he didn't have enough work to keep someone in the office 20 hours a week, she recognized the need for an efficient, online system. She has 20 years of bookkeeping and accounting experience and is excited to help small business owners achieve their goals. She enjoys spending time with her family and traveling whenever possible. She also loves reading, hiking, camping, cooking, yoga, and fitness. A huge believer in lifelong education, she is currently working on her master's in Accounting.