Hi! I have a business with a partner and would like to track all the income and expenses and have it divided into accounts so that I should be able to have to look at an equity account and be able to see how much money I can draw without printing reports and figuring out the profit after all the income and expenses. Thanks. Pinny
Sharing expenses with my partner
Jan 16, 2006
3 Replies
Thank you for sharing that with us.
This is called a book keeper or accountant. You hire one. They do the work and may use tools such as a computer and Quickbooks software, but can do it with pencil and paper. The more additional technology such as a calculator with paper tape printout you give them the faster you will get your answer. A computer and Quickbooks software is capable of doing what you want, provided the data is entered correctly. I'm sure you have heard the term GIGO or Garbage In, Garbage Out. It is the book keeper or accountant that makes sure that garbage does not go in.
When the accountant does it, GIGO becomes Garbage In, Gospel Out.
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