; Your Firm’s Chart Of Accounts Can Be A Great Financial Tool - DK/RK Accounting and Bookkeeping

Your Firm’s Chart Of Accounts Can Be A Great Financial Tool

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Do your business’s books have BARF in them? If so, this edition shows how you can fix that situation.



Once again, thanks for making DK/RK Services your first choice in bookkeeping… and for passing this edition on to your many friends who’ll want to subscribe for a “monthly smile.”

Wishing You Heaps Of Fun, And A Healthy Serving Of Beans.

DKRK Accounting and Bookkeeping Services - Closing the Books on Last Year

A Healthy Serving of Beans

Your Firm’s Chart Of Accounts Can Be A Great Financial Tool

Bean There, Done That
Monthly Bookkeeping Wisdom From Your Friendly Bean-Counter

“So, I’m confused,” I said to one of my treasured new clients. “What’s this expense category I see labeled BUTT?”

My new client, Millie, had been doing her own bookkeeping, and she’d set up her own “chart of accounts” for various categories of revenue and expenditures. She was asking me now to take over her bookkeeping and review her work.

“Well,” Millie said, “I wasn’t sure about that. It’s an abbreviation for ‘buttons.’ I had to buy some to replace the ones that popped off my jacket.”

“I see,” I said. “And this one? BARF?”

“Oh, goodness,” Millie said. “That’s supposed to be under revenue. It’s short for ‘Bar Funds.’ Darn it. You can see why I need your help.”

And I could.

Happily, I was able to take a fresh look at Millie’s chart of accounts, and reorganize it to better fit her thriving restaurant business.

I took some time with Millie, and at the end of our meeting, she understood that her chart of accounts was an important foundation for organizing her business’s financial information in a way that would enable her to clearly see how money moved in and out of her business.

A company’s chart of accounts also serves as the basis for financial reports that enable a business owner to make crafty financial decisions that drive the future of the firm. That chart of accounts is a crucial starting point for all the firm’s key financial reports.

How healthy is your business? If you have clear financial reports, driven by a strong chart of accounts, you’ll know.

If you don’t, you won’t.

Luckily, Millie’s business was doing well, and after we reorganized her chart of accounts, we were able to clearly show her firm’s progress using her company’s financial reports.

If you’re starting a business, or if you’re not sure about your existing business’s chart of accounts, reach out to your Friendly Bean Counter (FBC). We’ll make sure your bookkeeping is set up in a way that helps you make smart business decisions going forward.

You’ll be glad you did!

Discussion Questions

  1. 1
    Does your business have revenue or expense categories labeled “BUTT” or “BARF?”
  2. 2
    Create a pie or bar chart which illustrates the percentage of your business which depends on BUTT or BARF, or any other colorfully-labeled category.
  3. 3
    How can your FBC (that’s me) help you create a more useful chart of accounts?

Don’t forget: at DK/RK Services, you’re always “more than a number.” We WANT to take care of your bookkeeping, professionally and personably, so you can focus on running and growing a great business enterprise! Please check out our many enthusiastic FIVE STAR online reviews (Yelp, Google, Facebook, you name it). We look forward to earning our next great review from YOU.

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Sadie’s Paw Prints

Howl-dy! I’m Sadie.
Dottie is my person.

Sadie’s Paw Prints

Pet Appreciation Week Is Coming SOON!

We dogs are pretty excited about the fact that May is right around the corner.

Why? Well, because May is when Pet Appreciation Week is scheduled!

Sadie here, Dottie’s faithful canine companion, and I’m here to tell you Pet Appreciation Week (or “PAW,” as we affectionately call it) is a big deal around here.

You can be part of the exhilaration by supporting our team, the “Barkin’ Buddies,” during the upcoming PAW “Furry Scurry.”

We’re raising funds to help support our furry friends! And you can help us with your pledge.

Reach out to Dottie for details. Meanwhile… have you petted your dog lately? If not, go do it now. Right now!


Non-Profit Spotlight

Buy A Cool Shirt And Save A Cool Elephant

Elephants are super cool. Don’t you think?

Unfortunately, they’re also an endangered species facing possible extinction.

One of our favorite non-profit organizations, the Katie Adamson Conservation Fund (KACF), is working hard all over the globe to help save elephants, along with countless other endangered animals.

You can help! Just go here:


And check out KACF’s brand-new online store. It’s super cool, too!

There, you can get super cool KACF merchandise like t-shirts, jackets, backpacks, mugs, and more… and you’ll be helping to support this extremely worthy organization.

Show you care with what you wear!

The elephants thank you.

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