Welcome > Step 2 - Categorizing Crackerjacks
List categorization is called single entry bookkeeping/accounting. This typically resonates with Small Business Owners or Individuals who don't care so much about full Double Entry Bookkeeping because 1) they don't need it 2) they feel don't it or 3) they don't understanding it and they are comfy enough with that lack of understanding not to seek out more information.
This typically resonates with Small Business Owners or Individuals who understand that categorizing transactions for business reporting, personal reporting or budgeting only involves three really simple steps.
You all don't care so much about full Double Entry Bookkeeping because:
This typically resonates with Small Business Owners or Individuals who understand that categorizing transactions for business reporting, personal reporting or budgeting only involves three really simple steps.
- Aggregating transactions for categorization
- Categorizing Transactions using lists that aren't confusing
- Generate Reports
You all don't care so much about full Double Entry Bookkeeping because:
- You don't need it
- You don't feel you need it
- You don't understanding it, and you are okay with that
- You don't realize that double entry bookkeeping and single entry bookkeeping are nearly identical if you leave off the Balance Sheet functionality...
Accounting Alchemists refer to you all as the "Single Entry Bookkeeping Crowd" because that's what bookkeeping without a Balance Sheet amounts too in simple terms.
This group typically consists of TWO rather different groups of people:
- Spreadsheet Users -- The first group consists of those who use or have used spreadsheets for some time with satisfactory success for these types of tasks. This group is typically more interested in Function over Form. They like the flexibility that spreadsheets offer and they may or may not know how to create custom reporting from their data. They like being able to get in and get out of this part of their world without a lot concern with how others might view proper navigation or a logical software interface.
- Software Users -- The second group consists of those who prefer to use software that is prettier than spreadsheets to try to do whatever it is they are trying to do (expense reporting, budgeting, financial reporting, etc). This group will tend to think there is something magical behind software like Quickbooks, Quicken. Freshbooks, You Need a Budget, Tiller or another comparable "apps". All of these are in fact just a simple data table or two in disguise but without spreadsheet or database understanding, that can look like magic when it's not. These folks will often think the software solutions are worth paying for, when in fact they take volumes of attention in return for surprisingly little payoff. These folks typically groan at the idea of "manually importing" or "manually inputting" data because they feel giving up passwords and privacy in exchange for those are some of the greatest benefits of these solutions. These folks have never realized that most CPA's, Bookkeepers and Accounting Professionals do NOT recommend automatic data downloads for very logical and simple reasons revolving around time savings, data privacy and risk reduction.
Most of the spreadsheet folks could benefit greatly from our bookkeeping module, but we needed to make sure you realized as it's as good as a single entry system as it is a double entry system before we would get your attention.
Most of the software folks won't budge from their software unless there's a real lack or need not being met, and most of you don't know how to assess that and most will struggle with giving up the sexy for the functional.
We feel the real opportunity to pull many of you all into this Google Sheets based, Accounting paradigm will be with our Sales Systems and Advanced Bookkeeping modules.
- For those that want or need something we have to offer in that realm, it will make more sense to also adopt the bookkeeping module...
- And it will make sense to adopt the bookkeeping module first because it's free, and it will give you a good feel for work flow in a Spreadsheet Based Accounting module so you'd have a better idea of what to expect in one of our other more advanced systems.