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TURBO BOOKS

OLD SCHOOL BASICS FOR TODAY'S BUSINESS

 

 

An "on your site" tutoring service for your bookkeeping                  department

Today the trend in car engines is to get more horsepower from the present engine size by adding a device known as a turbo charger. This compact and efficient use of the engine's own exhaust adds the power and performance to an already proven engine. Some car companies can power a larger car with a small but turbo powered engine.The result is a faster car without increasing the weight and expense of a bigger engine.

Can Turbo Books increase the performance and efficiency of your bookkeeping department?

In today's work space there is a tendency to refer to some employees as an "accountant" or a "staff accountant" or an accounting clerk. But many times these folks may lack the basics about how the books should be kept or how the complete system works. Or you may have a bookkeeper who learned "on the job" and only learned that which he/she was taught by the previous employee who performed that job.

There are many of these folks who may be good at their job, are dedicated workers, and they know your company's business. But they lack a certain level of knowledge that connects them to the big picture. They may not understand how their job is important to the production of the financial statements or the financial status of the company. Or, accounting managers wished their employees knew how to do other jobs within the bookkeeping department, so there can be coverage for an employee who is sick or is on vacation.

Here is our solution:

Turbo Books can provide on-site, face to face tutoring for your bookkeeping staff. Our standard formula is a 2 hour total immersion course in the principles of bookkeeping and how the debits and credits are used, how the financial transactions get into the General Ledger, and how all the pieces get come together in the production of the financial reports. After many years of presenting this subject I really believe that I have the formula and presentation down to a science. Those years in the classroom have given me enough knowledge about the learning process to know the answers to the most complicated questions a bookkeeper could ask. And, I provide easy to understand language along with graphics that assist in the understanding of this subject. Plus, questions are encouraged. No question is too silly, no question is too obtuse. There is a high probability that I will provide the employees with more knowledge about this subject than they knew before they walked into the room.

LASER FOCUSED....NOT A SHOTGUN APPROACH

While you may want your employees to know more about the financial transactions you may not want them to spend 16 weeks in a classroom to learn the complete spectrum of the accounting cycle. The typical semester long, expensive learning process is not really solving the bookkeeping problems you have. You desire a quicker and a more focused approach. You want to pay for assistance with YOUR organization's problems.

Too frequently employees have preconceived ideas about how debits and credits impact accounts. This is usually the case when employees have only worked in one department and all they see is one side of the financial transaction, such as just the payment of bills or producing invoices. We want to change the thinking process.

AREAS WHERE WE CAN HELP YOUR BUSINESS

A/R and A/P

You may want your employees to

*know how to trace their entries into the general ledger accounts that are affected by their work

*be comfortable with cross training into other departments so they know how assist with those departments during heavy workload periods

*know how to accrue revenues and expenses and the use of reversing entries.

PAYROLL

You may want your employees to

*know how to make entries of the payroll data into the general ledger by department, by category, or by job code including the splitting of the payroll burden expenses over numerous departments.

*know how to be comfortable with end of month, quarter, or yearly accrual of payroll expense, liabilities, and related payroll burden

*know how to trace payroll liabilities from the recording of the liabilities to the cash payments

*know how to properly record the Child Welfare payment liabilities and their payments

*know how to accrue Workers' Comp insurance by code and/or by department and/or by job so you are not surprised by an end of year Workers' Comp audit.

 

GENERAL LEDGER

You may want your employees to

*understand the flow of debits and credits through the General Ledger and tracing the journal entries through the affected accounts

*understand the Trial Balance and explain it to you

*compose an Income Statement and Balance Sheet from the Trial Balance 

*understand and explain the difference between and normal and abnormal balance for each account

*record depreciation expenses and understand how they impact the Income Statement and Balance Sheet

*understand and appreciate the difference between a revenue and capital expenditure

 

Sales Taxes

You may want your employees to

*record the sales taxes in the different liability accounts in the G/L

*know how to transfer the sales tax payable from you Point of Sale software into your G/L

*how to read and understand the sales tax return and how to file it and the payment with the state

*know the mathematics of calculating the sales taxes and how to "reverse engineer" the numbers if necessary?

Inventory

You may want your employees to

*understand recording the Cost of Sales if your present software doesn't allow for it

*understand and appreciate the flow of costs between your inventory and the Cost of Sales

*understand and appreciate how you manage your inventory (LIFO, FIFO, and Weighted Average) and how that system impacts your Income Statement and Balance Sheet

*understand the differences between book and actual inventory counts and how to record those adjusting entries

Bank Reconciliations

You may want your employees to

*know how to do a bank rec on a daily, weekly, or monthly basis

*understand that adjustments to your bank account by the bank need to be recorded immediately and accurately

*understand and record credit card processing fees as well as how to read the processor's statement

FAQs

Can you help my staff with the bookkeeping and Quickbooks?

Absolutely. We can help your staff set up your Quickbooks and/or understand how and what they are doing with the software so they can fully appreciate their job and the software.

Can you help with other bookkeeping related aspects of my business?

Certainly

 

Can Turbo Books help turbocharge your bookkeeping department?

Email us at     turbobooksinfo@gmail.com

FAQs

Can you help my staff with the bookkeeping and Quickbooks?

Absolutely. We can help your staff set up your Quickbooks and/or understand how what they are going with the software so they get to fully appreciate the bookkeeping job and how all the pieces come together.

Can you help with other bookkeeping related aspects of my business?

Certainly. You may want your employee to set up a report in Excel to monitor your investments and track the income and market values. 

 Can you provide bookkeeping services for my company?

Of course. We will interview each other and determine if we are a fit. You tell us what you need and we will inform you how we can satisfy those needs. The service could be weekly, semi-monthly, quarterly, or any schedule that you determine to meet your needs. 

 

For more information    turbobooksinfo@turbobooks.net