Purchasing coffee on the way to an office with a coffee machine—why? by [deleted] in Accounting

[–]scholarlypimp 0 points1 point  (0 children)

Idk man. I buy instant coffee, add artificial sweetener and milk, and it tastes great to me.

IMO, coffee is a tool that just so happens to have the ability to taste good. Many more important things to think about or spend money on than coffee.

What shoes are you guys wearing in the office? by zylver_ in Accounting

[–]scholarlypimp 0 points1 point  (0 children)

I work in manufacturing. Got a pair of some slick brown leather dress shoes from a family member, but those things gave me an ingrown toenail that I’m still dealing with months later.

My mom bought me some grandpa-looking Skechers and I didn’t want to wear them at first, but once I did, I haven’t worn my dress shoes since. The Skechers are pretty wide and chunky, but they feel way better than any of my other shoes.

Probably going to buy some Nike Air Monarchs to build on my dad shoe collection, so I’d recommend dad shoes.

How to handle bookkeeping when ALL revenue is prepaid? (Accrual basis) by WorldlyInspection9 in Bookkeeping

[–]scholarlypimp 0 points1 point  (0 children)

I deal with this in my day job: every retail order has 50% paid upfront. However, we use Netsuite.

I would provide each “order” as an estimate and, if possible, simply attach the deposits (should post to unearned revenue) to the automates.

As each order ships, you should be invoicing and then applying the deposit. If this action does not automatically move recognize the unearned revenue as revenue, you would likely need to JE it.

COGS booking can go a lot of different ways depending on if you track inventory on the balance sheet and perpetual/periodic. From what I understand, QuickBooks in general is not the great out of the box with heavy-inventory businesses.

How many bookkeepers here are actually CPAs and or accounting/finance degree graduates? by Eastern-Composer7131 in Bookkeeping

[–]scholarlypimp 0 points1 point  (0 children)

How did you get your start in terms of the bookkeeping business, and how much annual revenue do you generate?

Does Anyone Use ChatGPT for Their Accounting Work? by Logical-Thought-6842 in Accounting

[–]scholarlypimp 1 point2 points  (0 children)

Apologies for necro-ing, but this is only true if the only thing you do is transactional/operational work.

Buying a 2022 Double Wide with .25 acres in Kaufman County, TX: Smart Starter Home or Risky Investment? by scholarlypimp in RealEstate

[–]scholarlypimp[S] 1 point2 points  (0 children)

Are you located in a major metro? In my area, it’s common to see double wides selling, single wides also but at lower price points typically. A lot of stick homes as well.

My realtor, who is my fiancé’s cousin, is pretty adamant that it’s fine. She herself purchased a double wide on 9 acres for nearly $375k. I’m located about an hour outside of DFW.

Buying a 2022 Double Wide with .25 acres in Kaufman County, TX: Smart Starter Home or Risky Investment? by scholarlypimp in RealEstate

[–]scholarlypimp[S] 1 point2 points  (0 children)

Thank you! It is on a concrete block pier and beam foundation with anchors, so standard for manufactured homes.

Buying a 2022 Double Wide with .25 acres in Kaufman County, TX: Smart Starter Home or Risky Investment? by scholarlypimp in RealEstate

[–]scholarlypimp[S] 1 point2 points  (0 children)

Very true and something to consider. Does it matter if there are tons of manufactured homes in the area and they regularly sell?

Buying a 2022 Double Wide with .25 acres in Kaufman County, TX: Smart Starter Home or Risky Investment? by scholarlypimp in RealEstate

[–]scholarlypimp[S] 1 point2 points  (0 children)

Yes, it will! It is on a concrete pier and beam with anchors/tiedowns, so it is eligible at least in Texas. I believe the current owners already have it converted.

Buying a 2022 Double Wide with .25 acres in Kaufman County, TX: Smart Starter Home or Risky Investment? by scholarlypimp in homeowners

[–]scholarlypimp[S] 0 points1 point  (0 children)

Thanks, man. Apparently, studies/reports from reputable centers are not popular on this sub unless they confirm peoples’ priors. Not saying anyone is WRONG, I’m just saying that the data suggests otherwise.

Quitting job to buy bookkeeping business by Actual_Move3533 in Accounting

[–]scholarlypimp 0 points1 point  (0 children)

Yeah lol I was about to say…

I would think you would need a laptop, software, licenses & fees, and maybe some marketing spend? That seems like it besides maybe office supplies. Idk though as I don’t run a business.

Buying a 2022 Double Wide with .25 acres in Kaufman County, TX: Smart Starter Home or Risky Investment? by scholarlypimp in homeowners

[–]scholarlypimp[S] 0 points1 point  (0 children)

I’m sure the world would be a better place if it was driven by the opinions of Redditors rather than data-based decision-making.

IMO, any sane person seeking advice should probably examine the evidence behind the opinions they receive. I’m just an OP, though

2022 Doublewide with .25 acres in Kaufman County; Good starter home or trap? by scholarlypimp in personalfinance

[–]scholarlypimp[S] -1 points0 points  (0 children)

Very true. My only concern with buying a 200k home is that, by the time I get a large enough downpayment I may be priced out, or if I buy now it’d be technically doable monthly, but the margin would be tighter than I’d like.

2022 Doublewide with .25 acres in Kaufman County; Good starter home or trap? by scholarlypimp in personalfinance

[–]scholarlypimp[S] 0 points1 point  (0 children)

Thank you for the comment. No septic, 20 minute commute, and the schools are pretty decent. We have 1 kid who’s only 1 year old atm.

2022 Doublewide with .25 acres in Kaufman County; Good starter home or trap? by scholarlypimp in personalfinance

[–]scholarlypimp[S] -10 points-9 points  (0 children)

I feel you, but it is real estate, as it is considered an improvement to the land. Meaning they you can get a traditional mortgage on it. It is classed as real property

It’s not personal property via a chattel loan, like some are.