Attention: To all businessman/Woman
Greetings, mabuhay. I am an auditor by profession and I have reviewed the cheapest means of maintaining books of accounts for those types of entrepreneurs at lesser cost and quality financial statements.
For Accountants and Non-Accountants entrepreneurs, the best way to solve this financial statements preparation at lower cost is to install an accounting software - an intelligent software, known as Peachtree Complete Accounting Software. I have tried a lot of accounting software, and I have arrived at the conclusion that Peachtree is the best accounting software in the market today. In addition, be informed that I am not promoter of this software, but I like the application, and I hope this small advise helps my fellow entrepreneurs.
There are a lot of tricks in doing the preparation of financial statements as mentioned by other accountants in this forum for old fashioned way manual system, but why not employ the latest intelligent software that can help you run your businesses, be it lending investor, grocery store, real estate, bakery, buy and sale, pawnshop, restaurant, internet cafe, transportation or any kind of business undertaking under the sun. Lesser time to consume while more quality time for your family, adequate internal controls, data integrity and quality financial reports which can help you run your business not only in financial statements preparation but most important your daily task business operations; from receivables, sales invoicing, purchasing, payroll, general journals, disbursements, perpetual inventory system, budgeting, even your business contacts and most important, a financial statements that would show your financial position for wise decision making and to know your real bottom line. What you need is just a computer and Peachtree complete accounting software.