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Do you need help with your studio bookkeeping?

I hope this doesn't conflict with PWF policy. The discussion of how to keep records for our piano studios often the topic of piano teachers.

My husband just sent me this as an attachment recommending that I replace my QuickenBooks with a new model that does more for me.

It is available on sale for one day only - today - September 29th online or in Office Depot stores.

I left some of the information from the ad here:
Take a Product Tour
Visit the QuickBooks Showcase
QuickBooks® Pro 2009
Item # 940625
Your Price $69.99

DESCRIPTION
Helps your business grow
 Instantly create invoices, pay bills and track expenses, in one place.
 Save time. Many users say they save 3 or more hours a week.
 Know where you're making money and where you're not.
 Be ready at tax time with complete and accurate records.
 Satisfaction guaranteed.
If "QuickBooks Pro" does not help your business grow (or you are not satisfied for any reason), simply return the product to Intuit within 60 days of purchase with a dated receipt for a full refund of the purchase price, no questions asked.

PRODUCT DETAILS
Item # 940625 Manufacturer # 406642
memory requirements 512 MB
operating system compatibility Windows XP; Windows Vista
minimum hard disk space 1 GB
minimum processor compatibility Pentium 2.0GHz
recommended processor compatibility Pentium 2.4GHz
minimum resolution required 1024 x 768
minimum color requirement 16-bit
Internet access required yes
additional software included no
software type CD-ROM
peripherals required CD-ROM Drive
manufacturer INTUIT
Copyright © 2009 by Office Depot, Inc. All rights reserved. Prices shown are in U.S. Dollars. Please login for country specific pricing.
Prices are subject to change based on your order and delivery location(s) and the applicable retail store location.
All orders are subject to the Terms of Use.

Hm. I believe there is Quicken, and then, a separate and different program, QuickBooks. You are, from your post, referring to QuickBooks.

QuickBooks is an excellent program, tho as all programs do it has its drawbacks, and it's fairly easy to use. It is, however, a bookkeeping program (though not one that all accountants like), so one has to take some care in using it in order to not misuse it

It would be a good idea, if you are going to use QuickBooks, to have your accountant give you some guidelines as you set it up. Some things I run into when people are first setting it up:

1) Your local music store, where you buy books, isn't an Expense Account. The expense account is called "teaching materials" or something similar. The music store is a vendor, and you write checks to the vendor, from the teaching materials account. Similarly for recital hall rental, etc.

2) Set your customers up as customers, not Other Names. This way you can invoice them, and know how much they owe you. Your customers aren't Income Accounts. Your income account is Teaching Revenue or similar, and your customers' money is deposited to that account.

3) If you do invoice customers, use the Receive Payments button for their payments, and deposit the payments. That way the invoices will show the correct amount due.

4) Keep your personal and business "companies" separate in QB. You can write checks to yourself from the business accountant to deposit in your personal account. Check with your accountant about what account to use to do this in the business company.

I believe that Quicken uses the word "category" for that which QuickBooks/accountants call "accounts."

And yes, QuickBooks Pro will do anything you need, and $70 is an excellent price for it.

Cathy

$70 may be an excellent price, but I would guess that if you are not used to QuickBooks, you will easily spend 10 times that trying to learn how to use it.

Rich

There is that

Cathy

Did you notice the:

 Satisfaction guaranteed.
If "QuickBooks Pro" does not help your business grow (or you are not satisfied for any reason), simply return the product to Intuit within 60 days of purchase with a dated receipt for a full refund of the purchase price, no questions asked.

That should give you time to peruse it and decide if it's for you or not.

It usually costs $169.00.

If it's too much to work with, one can resort to the old trusty pencil and paper.