The Ledger Light podcast is all about accounting, tax, and QuickBooks. The podcasts are short and to-the-point, getting to the heart of the matter quickly. We're sensitive about your time.
It is on our hearts to help people understand accounting concepts. We incorporate stories, analogies, metaphors, diagrams, and tables whenever possible. Most of the podcasts here will have corresponding posts on the blog atLedgerLight.com. If we talk about a diagram or a table on the podcast, you can probably see it on the blog.
If cash basis reports are all that the firm needs, then this method for entering transactions is quick and efficient. I suspect it is even more efficient than relying on downloads. Try it and see if you agree.
People say that technology is taking over accounting, but that is a joke, at least at the small business level. For example, there has been no improvement in the efficiency in QuickBooks downloads in the last seven years. If you're struggling with these downloads, it's probably not you. That's not going to win me any friends at Intuit, but it is the truth.
In this podcast I use an analogy to explain the difference between accounting and tax. I've done this because I've noticed that small business owners get these two ideas confused but it is important to understand the difference.
It is on my heart to help people understand debits and credits, and how the work with the rest of accounting. Everybody who wants to be an accountant or who uses accounting software needs to understand the basic principles upon which accounting and accounting software are built.
A lot of small business owners like to rely on downloading financial information into a QuickBooks file. This podcast discusses a couple of the limitations that happen if those downloads are relied upon exclusively.