This is the time of the year when people determine they are going to lose weight, start an exercise routine, quit smoking, and increase their business from X to Y? The hype of the new year causes one to change to the next chapter and to make things happen. It is a great time to take advantage by looking at what you did last year and what you are going to do this year. To set objectives and develop your goals to accomplish your vision. This is a starting point in the cycle of my business model plan.
So, this year I determined, it was the time to consider cleaning up my accounting system! Sounds boring, but I have been using the same version of Quick Books™ since 2003. I have been told that really there is very little difference between this old version and current 2017. This may be true, but it did give me incentive to take advantage to do something that made me clean up the basics of my accounting system.
The real advantage was to meet my objective of cleaning up the chart of accounts so I could get accurate profit and loss for my business practice from Quick Books™. So, I decided to change this as of January 1st, it was a larger task than I realized. Now I have captured the history, and injected the year-end balance sheet into my planning process. I have entered the budget numbers into Quick Books™, and I see what I should do. It forces me to set my objectives and develop my goals to achieve my strategic plan for each month of this new year.