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Accountant?

Jinglebob

Well-known member
I have been setting here, most of the day, entering last years checks into my quicken account. Man, I sure wish I wasn't such a procastinator! :x

When I can't stand it any longer, I check in on ranchers net. It helps. A little. :wink:

Sure makes me appreciate my low paying, get to go outside and work in the weather, job! :wink:
 

feeder

Well-known member
I just love Quicken!!!! Print all the regular monthly checks right from the computer so they are already entered. Jinglebob, EVERY month I go through the bank statements and enter any regular checks and deposits. The trick is to do it every month. Boy, do I feel for you entering a whole year of checks!!!! LOL GOOD LUCK
 

the_jersey_lilly_2000

Well-known member
Bout got our income taxes ready to take to the CPA.....worst of it's over with just waitin on a couple things to come in that I've requested....but it's not a one day job.....sortin...stackin, addin it all up...puttin it in its column.....glad that's been tackled and I aitn still starin at all them reciepts.
 
A

Anonymous

Guest
One thing I miss is the old counter checks...Never do remember to take a checkbook or wallet with me- usually have enough cash in my pocket to cover the little things and everything else I just charge at places I have accounts...But once in a while a guy would run short of cash while in town and I'd just use a counter check- but the new computer world done them in :(
 

Jinglebob

Well-known member
feeder said:
I just love Quicken!!!! Print all the regular monthly checks right from the computer so they are already entered. Jinglebob, EVERY month I go through the bank statements and enter any regular checks and deposits. The trick is to do it every month. Boy, do I feel for you entering a whole year of checks!!!! LOL GOOD LUCK

Heeellloooo! Did you not read the part about procrastinatin'!? :eek: :lol: :lol: :lol:

I have in the past, got to putting them in every month when the checks come, but then when I get busy outside, I come in and don't want to mess with them. "Drather mess with ranchers.net! :wink:
 

Buyer

Well-known member
Jinglebob
Don't feel bad I looked on the calender yesterday and I have to go in Tuesday and just pulled out my checks today. That way it will all be fresh in my mind right?
 

Hanta Yo

Well-known member
Jinglebob, I feel for ya. We use Quickbooks Pro, it gathers and condenses all kinds of information (you just have to put it in, first :wink: ) Since I balance the checkbooks through Quickbooks, I make sure I don't get too far behind so I know exactly what is in the checkbook at all times. I'm a stickler about it. I can't understand how someone can try and reconcile their checkbook with the bank and are "happy" being only a few bucks off. :???: :???: I like to be reconciled to the penny and I won't quit til I find it.

Took our EOY stuff into the accountant last month, won't be long til he's done, since we bought a bunch of cows last year, I look forward to a refund 8)

I also do books for other people on either my computer or on theirs. It's a win-win situation, it bugs me that some don't keep a good set of books (yeah, shoebox full of receipts) and I know accountants don't like that and they certainly charge extra.

Happy Income Tax Time
 

Soapweed

Well-known member
Our records consist of our cancelled checks. We just take a shoe-box full of these into our accountant, and it's his baby after that. We paid our income taxes just ahead of March 1st, so it's over for another year. One thing about ranching, there are sure a lot of deductible expenses. :? :???: :wink:
 

Faster horses

Well-known member
I remember when ranchers paid their income tax once a year; no quarterly estimates paid in either. Whoever set up income tax to be deducted from paychecks each month was brilliant. I have always maintained that if everyone had to pay once a year like ranchers and farmer used to, there would have been a tax revolt in this country a long time ago. :shock:

Ever notice that wage earners know how much they got back, but hardly ever know how much they paid in?
 

CattleRMe

Well-known member
Soapweed said:
Our records consist of our cancelled checks. We just take a shoe-box full of these into our accountant, and it's his baby after that. We paid our income taxes just ahead of March 1st, so it's over for another year. One thing about ranching, there are sure a lot of deductible expenses. :? :???: :wink:

Soapweed sounds like all of us. However our bank quit sending back the checks so all we have now are the copies ran off on pages. My income tax return is also sent in. Glad for the deductions too!

The accountant makes sure we know how much is paid in.

We just pay once a year also.
 

Rowdy Ranch

Well-known member
Well done with that til next Feb-the paying or refund part. I get it all together and take it to an accountant-it is his job and I don't have time to keep up on all the rules and regulations. I do like book work,but not much time and would rather keep cattle records than bank records. But I think it is great for those that do understand and are able to do their own accounting.
 

Aztumbleweed

Well-known member
MY wife is an accountant and is a stickler about the check book. I have a bad habit of writing the check and then in the register rounding up to the next highest number. I have spent many fun hours watching her try to figure out why everything doesn't add up. She has pretty much figured it out now and makes me keep receipts for eveything.
 

Been There

Well-known member
I've got my 2005 taxes paid and forgotten about. I still do my accounting the old fashioned way, I write my checks and itemized income down in a record book and take it to the accountant in Feb.
 

EmptyPockets

Well-known member
We always get our taxes done in early Feb. We have everything itemized and let the accountant do the sorting. It's a long day for us. The wife takes a day off work and we do chores early then make a day of it, dentist, eye dr., chiropractor, grocery shopping and a nice meal at the end. Our valentine supper. It's a couple hundred mile round trip and usually our last day out till after schools out. :roll:
 

Cowpuncher

Well-known member
I have an accounting degree and worked at it for some 25 years.

I tried Quicken and finally gave up on it. If a check number was entered incorrectly, it was a real job to find it again.

I use an Excel spreadsheet as a check register. Only ranch business is in that account. Each check has a date, number, payee, expanation and the line number of tax Schedule F. It is easy to reconcile to the bank and needs only to be sorted by line number for tax purposes. Mailed my return in on February 5th.

However, the tax code keeps getting more and more complex. I doubt that there more than a few IRS employees that really understand all there is to know about depreciation and whether or not it is correct. When I was audited a couple of years ago, depreciation was half of the expense and they never looked at it.

Now, that Alternative Minimumn Tax, there is a huge problem. And there are even fewer people that understand it and even fewer capable of planning for it. (I am one of them.)
 

Jason

Well-known member
I don't have the degree in accounting, but worked in a business where I dumped one guy that had a 2 year "business degree", he didn't even know how to balance the bank using MYOB the predecessor to Quickbooks. I learned MYOB in 1 week and made their books sing.

On this place, I have mom doing the books on a program developed by the accounting firm we use. It is a simple program, too simple for much use other than keeping a neat ledger.

The accounting firm we use checks out 150 ways to file and compares results. I can't believe it has been 20 years we have used them.

I read an article on the minimum alternative tax in the US, scarey stuff indeed. Lots are going to get a nasty surprize from that one.
 
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