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Free!

Rule Accounting is now a QuickBooks Online ProAdvisor. As a ProAdvisor we can sell QBO at a 30% discount. This discount is for 12 months if you pay Intuit directly or indefinite if you purchase through Rule Accounting. As always, the first month is free, either way.

If you want us to setup and or maintain your QBO account, Rule Accounting does charge for that service. Our basic hourly rate starts at $100 for new entrepreneurs. The rate increases for larger companies with more complex needs.

Most small businesses with sales less than $300,000 per year will require 4 hours setup time and 3 hours per month to maintain.

Rule Accounting’s preferred payment method is by automatic monthly bank draft (ACH payments) that I will set up and the client will approve. Neither QBO nor Rule Accounting can access your bank accounts to make any kind of changes. All QBO bank accounts access are strictly read only.

I encourage you to contact Rule Accounting at 254-978-0001, on how we can serve you with your accounting needs.

All phone calls/texts/emails/in-person conversations are 100% free!

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Accounting in 2024

Modern double-entry accounting began in the fourteenth century. Accounting as a profession began in the nineteenth century. Accounting is full of regulations, rules, governing bodies, and societies. Certified Accountants are required to follow all conceptual principles, policies, rules, and regulations.

The main rule all accountants must follow is GAAP. GAAP is the acronym for, “Generally Accepted Accounting Principles”. Make no mistake, “General Accepted” is very specifically spelled out within GAAP.

GAAP is the set of accounting rules, standards, and procedures issued by the FASB for U.S. companies to follow when preparing their financial statements.

Concerning QuickBooks software, buyer beware! QBs is an excellent accounting program, however QB’s does not follow GAAP automatically. Proper accounting knowledge is required.

Your companies’ Financial Statements are only as accurate as your competence in a proper, accurate, and complete General Journal entries. QB’s does not guarantee proper, accurate, or complete.

Accounting software is only part of the solution. A good Accountant is a must!

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May 2023

I can’t believe it’s May 9th already! All the tax season workers can hopefully take some well-deserved rest time! I went to visit a seasoned tax professional this morning, in Valley Mills. He has 47 years of experience that I will never have. I, however, have 47 years of experience that he will never have. My point is we are all unique individuals. We all have our own ways of doing business. Working together and research are the keys to success. I would never criticize pencil, paper, and file cabinets full of archived materials. I prefer computers and cloud storage. While face to face is nice, it is time consuming. Have any of you noticed many new homes are not brick. I guess a brick home looks too dated. Are the old brick and mortar storefront days behind us? If you think so and want to go to virtual accounting, send me a text (254.978.001) or email, Brett@RuleAccounting.com

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2022 Taxes

Filing Federal Income Taxes is an annual responsibility for most of us. Tax rules are extremely complicated as all accounting rules. Remember the math is easy but the rules are not. Ignorance is not an excuse. Good luck friends!

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Texas Drought

Tough times for cattlemen in Texas right now. We have been though droughts before, and we will get through this one. What worries me more right now is inflation. Americans need to ramp up production. Selling new products is how to beat inflation. Depletion of current and long-term assets is not the answer. It will be a happy day when US Companies produce their own parts and quit relying on third market suppliers and all of the supply chain issues. The US is too dependent on products produced in other countries due to the advantages those countries have like cheap labor and less regulations. That is fine except for the fact that the US no longer produces enough of what we need. We are now dependent on others and living off debt. This pattern will not end well for the US. Some production is coming back to the US, and I say, “Keep it up!” Don’t print more money, earn it. The best way to earn money is by producing a product that is in demand.

Brett Bickham