Radically Simple Accounting: A Way out of the Dark and Into the Profit

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Lightening Source, 2005 - Business & Economics - 190 pages
3 Reviews
Radical Accounting introduces a new way of learning accounting that businesspeople-from students to stars-find engaging. This easy-to-learn system works with all accounting software, all types of private businesses, and individuals who are a "business of one".Accounting is a way to keep score in business. One rule in private business is that everyone keeps track of his or her own score. Whether you do the bookkeeping yourself, or manage a bookkeeper, don't you want to know if you are wining, or losing. . .if your financial advisors are making sense, or nonsense? This is the primer!Finally, "something new and different in accounting"! The first user-friendly accounting book. Did you know that if you set up, or customize, your software chart of accounts according to your way of doing business, you'll easily understand your Profit and Loss Report and Balance Sheet-your scorecards with the world of business?Toss out those antiquated accounting books. Jump into a book you'll cherish. With humor and grace, you'll be guided to victory in your quest to gain control of your finances and make more profit!Contains QuickBooks® Accounting Software Tips.
 

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I heard you on the radio about 3 months ago on WNZF in Flagler Beach FL. I immediately bought your book and I finally had time to finish it on Kindle. I was blown away after reading only 25%!
I
am a bookkeeper with a business partner and an almost 3 year-old very small but growing business, specializing in small businesses and entrepreneurs. I have been working with Quicken and taught others how to use it for as long as it has been around, and QuickBooks for 15 years. I worked on paper before all that. Yup, I'm pretty old.
I am not a schooled bookkeeper. Early on, I took a few QuickBooks lessons from a certified professional, but mostly I have been self-taught, had OTJ training, and been approved by the tax professionals I work with. I've read other books and learned little. Your ability to take some complicated bookkeeping concepts and put simple words to them and insert some humor taught me more than I’ve learned in a long time.
Radically Simple Accounting is the book I would have loved to have written had I achieved the level you are. I applaud you for your background and accomplishments. My mouth dropped several times in the first 2 chapters because I use a few of the tricks you use and I thought I made them up! e.g. Putting a "z" before an account or a file no longer in use but needed.
I completely agree with you when you say that bookkeeping is a science and an art. I use both sides of my brain pretty well and I have always thought that. I love puzzles and consider my profession as putting together puzzles. I don't like not having all the pieces, however. Also, we've had to fire a couple clients because they wanted us to be too creative.
I find that the hardest part of earning new clients is that they don't seem to understand how crucial bookkeeping is. I know there is so much more I could do for some if they let me. I loved your chapters on analyzing clients’ finances with reports to help them see how they can become more profitable. We have clients who are finally starting to listen, because now I am armed with the words you gave me to help me inform them. We are extending our services to estate bookkeeping.
I wrote this because I cannot praise you enough for putting so many of my own thoughts to paper, and reaffirming my chosen work. I didn't mean it to be a litany, but thank you if you have read this far.
My very best regards,
Joanna Christus
Madison Bookkeeping Service, LLC
 

User Review - Flag as inappropriate

Madeline Bailey's book, Radically Simple Accounting, is an easy to understand (and humorous) guide to accounting. It was really helpful in tying together concepts that I wasn't previously able to fully grasp. The book is well written, engaging and I would highly recommend it to anyone who is struggling with accounting and wants to be able to digest basic concepts in one sitting.  

Contents

Why Accounting?
1
Find Your Motivation
7
Managing Bookkeepers and Financial Advisors
13
Accounting Basics Made Fun Of
20
Define YourBusiness Model
27
Design Rules
34
Bank Account
41
Credit Card
46
Profit and Loss Report
99
Balance Sheet Accounts
115
Accounts Receivable
118
Inventory
121
Fixed Asset
125
Other Asset
131
Accounts Payable
137
Liability
139

Your Filing System
51
Profit and Loss Accounts
58
Income
61
Cost of Goods
66
Expense
71
Other Income
85
Other Expense
89
Equity
144
Balance Sheet Report
152
Thanks a Million
167
Definitions of Terms
168
Recommended Reading Etc
174
EndNotes
175
Copyright

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About the author (2005)

As a business analyst with 22 years' PC expertise, Madeline Bailey has been gifted with a rich professional career. As a software developer, she programmed internationally distributed software. As an entrepreneur, she partnered a software publishing business. As a consultant, she brought an open mind to the problem of teaching rich and famous private business owners to manage millions of dollars, with QuickBooks® accounting software, for improved profitability. As an author, she brings an open heart to sharing her discovery with you.

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