ladyturtle5366
10-19-2006, 10:22 PM
So I've had Quickbooks now for...oh, I don't know 6 months or so, and I've been using it for my Purchase Orders and invoicing. However, I had no clue how to "really" keep track of things, (bills, expenses, accounts, etc.)
We finally found an investor for our business, so I called up the Management Company to make sure they are still holding a spot for our drive thru. They said "Sure! Let's write up the paperwork contingent on financing. Send us your business plan and financials." EEK! First of all, I DON'T want them peeking at our PERSONAL financials, that the whole reason for getting an investor to help us out. Secondly, our business as it stands now is "breaking even" and I wasn't sure if that would be good enough or not. So, that lead me to dealve into Quickbooks a little more and scrounge through all the receipts laying ALL OVER, and input old P.O.s and invoices from BEFORE I had Quickbooks. Turns out, we're in the black!:drop:
Truly, I amazed (and a little scared that I missed something), but still wondering if our meager earnings are enough for them? I mean, don't most businesses show a loss the first few years? I think it's saying something that we're in the black after only one year, but we've been VERY VERY cautious with our money, and gone without a lot of things that would have helped us progress. Anyway, I guess I'm just rambling, but I'm so excited to FINALLY have all that paperwork entered, printed, and filed. (Well, sorta, the 4 drawer file cabinet is one of the essentials we've done without):lol:
We finally found an investor for our business, so I called up the Management Company to make sure they are still holding a spot for our drive thru. They said "Sure! Let's write up the paperwork contingent on financing. Send us your business plan and financials." EEK! First of all, I DON'T want them peeking at our PERSONAL financials, that the whole reason for getting an investor to help us out. Secondly, our business as it stands now is "breaking even" and I wasn't sure if that would be good enough or not. So, that lead me to dealve into Quickbooks a little more and scrounge through all the receipts laying ALL OVER, and input old P.O.s and invoices from BEFORE I had Quickbooks. Turns out, we're in the black!:drop:
Truly, I amazed (and a little scared that I missed something), but still wondering if our meager earnings are enough for them? I mean, don't most businesses show a loss the first few years? I think it's saying something that we're in the black after only one year, but we've been VERY VERY cautious with our money, and gone without a lot of things that would have helped us progress. Anyway, I guess I'm just rambling, but I'm so excited to FINALLY have all that paperwork entered, printed, and filed. (Well, sorta, the 4 drawer file cabinet is one of the essentials we've done without):lol: