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@/Arpro Solutions “Bookkeeping”

Step-by-step,<br>we donu2019t expect you to be an accounting expert with @/Arpro!<br>

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@/Arpro Solutions “Bookkeeping”

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  1. Arpro Solutions, LLC Step-by-step, we don’t expect you to be an accounting expert with @/Arpro®! Florida, U.S. @/Arpro Solutions “Bookkeeping” “The way Intellectually FUN people like to learn!” Provided by Arpro Solutions, LLC

  2. @/Arpro® Bookkeeping The process of recording and classifying business financial transactions (activities). The objective is simply to record and summarize financial transactions in a usable form that provides information about the business. “The way Intellectually FUN people like to learn!” Provided by Arpro Solutions, LLC

  3. Accounting Period There are 2 choices for the annual tax year: Calendar or Fiscal Tax Year. A reason a business might choose a fiscal tax year is that they could select an ending month for their fiscal year when business is low. This makes the process of what is called, closing the books a little easier. Also if a business has inventories, there would be less items they would have to count. Provided by Arpro Solutions, LLC

  4. Double Entry System The double entry system is the standard system used by businesses to record accounting transactions. Provided by Arpro Solutions, LLC

  5. Since all business transactions consist of an exchange of one thing for another, double entry bookkeeping using debit and credit, is used to show this two-fold effect. Debit & Credit are the devices that provides the ability to record the entries twice. The double entry system also has built-in checks and balances. Due to the use of debits and credits, this system is self-balancing: the total of the debit value recorded must equal the total of the credit value recorded. “The way Intellectually FUN people like to learn!” Provided by Arpro Solutions, LLC

  6. Accounting Methods An accounting method is just a set of rules used to determine when and how income and expenses are reported. • Cash-basisTransactions recorded when cash changes hands • AccrualTransactions recorded when they happen, even if the cash is not involved (credit cards, mortgages, anything financed) The difference between the two methods used for recording revenues and expenses results from when the business transaction is recorded in the “books” (timing). A business using the accrual method will record revenues and expenses before they get paid by the customers or wait until they pay the suppliers to record the transaction. “The way Intellectually FUN people like to learn!” Provided by Arpro Solutions, LLC

  7. @/Arpro® Balance Sheet A statement of financial position Assets(Things owned) = Liabilities(Debts you owe) Owners Equity(The owner’s share of the assets) @/Arpro® “The way Intellectually FUN people like to learn!” Provided by Arpro Solutions, LLC

  8. Accounting Equation ASSETS = LIABILITIES + OWNERS EQUITY A = L + OE “The way Intellectually FUN people like to learn!” Provided by Arpro Solutions, LLC

  9. @/Arpro® Accounts Plan An accounting plan can be defined as a systematic method of bookkeeping in accordance with a defined layout and content of operating rules, common terminology, specified accounting treatments and a predetermined plan for recording transactions which consists of a structured list of classified accounts. Provided by Arpro Solutions, LLC

  10. Accounting Causals The accounting causals are an important tool for entering the accounting records entries in the general ledger. Every single causal describes the accounting entry, it contains all the necessary information to create the automatism to generate the movement ledger: causal type, tax, accounts, etc. Provided by Arpro Solutions, LLC

  11. The program provides the main causals, accounts, others can be created and customized to complete all your accounting needs. Costs to hire a bookkeeper for small business could be avoided with the right app and the necessary technical support. “The way Intellectually FUN people like to learn!” Provided by Arpro Solutions, LLC

  12. The objective of a business Maximize profits! Revenue - Expense = Profit “The way Intellectually FUN people like to learn!” Provided by Arpro Solutions, LLC

  13. Presented by Zeno Buso Managing Consultant Arpro Solutions, LLCwww.arpro-solutions.com www.business-management-software.com www.simpleaccountingprogram.com www.arpro.it Contact Info: Paolo Bertuzzo Arpro Solutions, LLC sales2@arpro-solutions.com Phone: (407) 818-0644, (407) 534-4994 Thank you for attending our workshop. The information in this document is subject to change without notice and should not be construed as a commitment by Arpro Solutions, LLC. Arpro Solutions, LLC is not responsible for errors or damages of any kind resulting from access and use to this documentation. “The way Intellectually FUN people like to learn!” Provided by Arpro Solutions, LLC

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