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Am I The Only One
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tigger
Posted 1/17/2019 21:48 (#7252652 - in reply to #7249906)
Subject: RE: Am I The Only One


Iowa
All of the double entry cash accounting is done in real time and balanced with the bank throughout the year, but I don't do the accrual adjustments until after the end of the year. The financial statements are what results from that process. I'm having a sip of my wife's sweet red wine as I type this tonight to celebrate how the beginning & ending balance sheet, income statement, and equity statement all match up with reality and balance with each other to the penny. It's great when everything balances. It drives me crazy when something is off, even or especially if it is only off a few cents. It's not rocket science, but close enough for someone of my abilities. Some would say these are boring books full of numbers, but they are history to me. The numbers tell a story much like the photo albums. Now it's just a matter of plugging the numbers for financial analysis, printing out all the reports, and putting it all in a 3 ring binder. I've got this stuff going back to my first year of farming.

Closing out the books for the year ranks right up there with combining the last acre of corn.

Edited by tigger 1/17/2019 21:56
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