KTC Webinar Series: Setting Up QuickBooks. How to Build Your Chart of Accounts to Tell You HOW You Make a Profit
Walk through a simple layout for your chart of accounts that allows you to really understand where you are making or not making money in your business. Clarify variable vs fixed expenses and their impact on the business. A clear P&L tells you the story of your business to anyone else about how you make a profit. Stop building your COA based on your tax returns, or whatever invoices or payments come in. COA is a TOOL to understanding your business. It’s your planting plan. Think of your bank account like your fields.
Presented by Ted LeBow of Kitchen Table Consultants.
This program is presented in collaboration with Penn State Extension and is funded in part by a grant from AgConnect, an initiative of the Chester County Economic Development Council, through a grant from the PA Department of Community and Economic Development.