How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Rakhi Vasavada Your Own Question
Rakhi Vasavada
Rakhi Vasavada, Financial and Legal Consultant
Category: Finance
Satisfied Customers: 2608
Experience:  Graduated in law with Emphasis on Finance and have have been working in financial sector for over 12 Years
Type Your Finance Question Here...
Rakhi Vasavada is online now
A new question is answered every 9 seconds

I have a book keeping question. I have always made a good

Customer Question

I have a book keeping question. I have always made a good match of invoice amount to check amount with my supplier always concluding each year by paying off my suppliers and likewise being paid completely by my clients. I have a simple system where each check is recorded on a ledger in order and the assorted purchases from that day's shopping trip is separated out into categories such as tools, supplies, materials and so forth. (I make and repair jewelry part-time, btw.) But halfway thru this last year I got out of sync making double payments by mistake and also running late fees and so on. I wound up with a running balance that stopped jiving with the breakdown ledger. I'm lost. A check written to cover the running balance might be too much or too little to cover an invoice or it could cover a couple invoices and then a portion of a third-- but I can't divide a pair of pliers into two pieces for example to make it work. it is just hairy and my ledger method is not sufficient to cope with this. I ended the year owing about $300 more then my 2015 purchase receipts showed. So if I enter that check in the ledger now for this year I can't show anything was purchased with it as all the invoices are dated 2015. I also have some complicated inventory questions so if someone is familiar with the particular problems of jewelers given precious metals and so on that would be ideal, but in any case I see this is a simple matter for a book-keeper and I'd to get an answer now on that.
Submitted: 1 year ago.
Category: Finance
Expert:  Lane replied 1 year ago.

Hi Mike ... looks like no one else is picking this up. Maybe I can help. ... I do NOT have specific experience in the jewelry/precious metals area, but should be able to help with the bookkeeping questions.


As a holder of a hold a JD (Juris Doctorate, a doctoral degree in the law), with concentration in Tax Law, Estate law & Corporate law, an MBA, with specialization in finance & tax, as well as CFP® and CRPS designations, I have over 40 hrs of accounting at the undergraduate and graduate level, and have been dealing with business owner accounting and finance questions for over 30 years.


What's your specific question?

Expert:  Shawn P Adamo replied 1 year ago.

I am a CPA and can discuss the details via telephone. Please let me know if you'd like to peak on the phone.