1. Passion – I love their role, love being with students, and couldn’t imagine doing anything else. Great educators were […]
I recall a good friend of mine, who as many others do, decided they knew read more about the best way to post something than their employer or supervisor. This person was reprimanded to the posting errors. I explained that first and foremost you need to schedule that which you did in school or someplace else and follow your employer’s system. When I first started studying accounting, my instructor warned us that whenever you enter a business, perform an act as they’ve got laid against each other.
A good example of this is when I worked for a Fortune 400 company. Posting to your payroll account, you code it, you could make your entries, review to be sure it is correct then press enter. Can you let’s suppose I went to the Director and told him they are achieving this wrong? That accounting is a double-entry system and I am not posting a debit/credit entry, in a way that you will discover in the journal entry.
I am certain how the Director would feel that I was nuts. The system an example may be working with does not require someone to make both a credit and debit entry. Yet that is what I learned in academia. Coding manages the distribution, you don’t contain the access the ledgers to be sure that this entry hit two or more accounts, its automatic.
Experience counts, once I was a manager for any small firm. This firm had some accounts payable. Usually, the Owner or the Sales Manager could be the ones to create the gathering calls. In the one case, I come upon an individual who had not paid their bill in 4 to 5 months. The Owner and the Sales Manager have given up on collecting this account. I noted that there was nothing written concerning what this person does to get a living. I was informed which he would have been a contractor.
What I did, shocked the Owner and the Sales Manager. When they allowed me to generate the attempt, I filed a mechanic’s lien and left the amount owed blank. The effect was almost instantaneous. The individual soon after was only available in and paid his bill completely with cash. I then was thrilled to sign a relief the lien the location where the individual brought with him. The Owner inquired about how did I know the way to …» Read more