3/ I've told this story a few times before, so feel free to tune out, but about 10 years ago I was running my firm, I had a bookkeeper, I asked her at the end of the year "are all bank statements reconciled?" she said yes, so I sent the data to our accountant for tax prep.
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4/ The accountant called me, at home, at 9:30pm. "Travis, this data is all bad. I don't think the checking accounts are actually balanced." ok, well, I'm at home in my reading chair. Tomorrow I'll look at the data.
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5/ "Travis, you don't understand. The assets aren't right. The checking account isn't right. The category total for insurance payments isn't right. NONE OF THESE NUMBERS MAKES SENSE." ok, well, I'm at home in my reading chair. Tomorrow I'll look at the data.
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6/ "Travis, you're not listening. I don't know what's going on with these numbers. It's almost as if your bookkeeper just stopped balancing the books halfway through the year. ALL OF THE NUMBERS ARE WRONG." Yes, I get it. I'll dig into it.
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7/ "Travis, you aren't panicking. I don't know why. THE NUMBERS ARE WRONG." Well, Sarah, would the situation be improved in some way if I panicked? Because if you can explain that things would be better, then I'm willing to perform "panic" for you. WOULD THAT BE BETTER?
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8/ " <long silence> no" Oh? Ok. Well, in that case, tomorrow I'll look at the data. Good night."
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9/ So, anyway. Trump said something. Pelosi said something. Would the situation be better if you panicked / screamed F bombs / posted a meme on Facebook / picked a fight with a bunch of your old friends? No? Then don't perform panic. Chill the !@# out and cook a tasty meal
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10/ The bookkeeping error was nothing so sophisticated as a spreadsheet problem. The bookkeeper had just ... stopped balancing the checking account halfway through the year, but thought she had ( ?????????????? ). https://twitter.com/JKP_Discovery/status/1207695762928390145 …
ⓘ Dogs don't have thumbs added,
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11/ I went in to the office the next day (a Saturday), opened up the old checking statements, compared them to our accounting software (Gnucash), walked through the year until there was a discrepancy (June), and noted that her last annotation of the paper statements was May >>>
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last used it 10 years ago I liked it a lot clean dual entry bookkeeping with no frills. Like Quicken used to be 30 years ago. Modern Quicken is an abomination.
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Replying to @MorlockP
Thanks! I was looking into xero but this definitely looks like a reasonable alternative
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