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12 contributions to Ten Talents
Mar 21 •
What Stood Out To You Most?
Some of you may have thought this course was just a refresher. Others learned accounting fundamentals for the first time. Tell us what your takeaway is from this course, and make sure to take your next step towards the goal you set when you planted your flag.
2 likes • 9d
A newbie I am. 😉 So this was Bookkeeping 101 for me. My takeaway is the Cashflow Report. Never heard of it, but I'm beginning to understand its importance.
Mar 21 •
What Tools Do You Use?
QuickBooks is a common tool, but it’s not the only one finance professionals use. Tell us about which tools you use the most and the difficulty you had in learning them👇
2 likes • 10d
Accounting software, I prefer QuickBooks over Xero. Anchor for billing over Ignition because my goal is to have fewer than 10 clients and hit my financial goal. Client Hub is my one-stop shop for client communication. Claude for writing articles. Wistia, when I start making videos. Buffer for posting, responding, and analytics for FB, LI, & GMB, free. I was introduced to Fireflies a week ago. Haven't used it, but the reviews are good.
Mar 21 •
Cash vs Accrual: What Matters to Buyers?
Do you think buyers trust cash accounting or accrual accounting more? Support your answer and engage with someone else’s comment to discuss their perspective. This is how you start thinking like a trusted financial advisor.
3 likes • 11d
I believe most businesses go with the accrual method because revenue is recorded when the transaction takes place. This helps a business project income & expense. Whereas if a business was to project income & expenses using the cash method could show a business does not have enough cash to cover the cost of future expenses.
Mar 21 •
Create Your Own Problem
Create a realistic accounting problem similar to the examples shown in the lesson. Post it in the comments. Find someone else’s problem and reply with how you would solve it.
1 like • 11d
@Ashton Brady This one went over the top of my head.
1 like • 11d
@Ashton Brady I caught this, I think. Since inventory increases but you haven't paid, that means AP decreases because you still owe. Once the invoice is paid, increases and cash decreases.
Mar 21 •
Hebrews 11:1
“Now faith is confidence in what we hope for and assurance about what we do not see.” https://bible.com/bible/111/heb.11.1.NIV
2 likes • 11d
One of my favorite scripts.
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