Private Investigations and Personal Security/P.I. Business Software

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Question
Hi again Marc,

I plan on operating a P.I. agency after obtaining a company P.I. license.
My question is:
What type of software program would a P.I. or P.I. agency require to maintain accounts on clients? I was told Quickbooks would be adequate. Another source suggested that an issue might be the type of info. one needs to keep about clients.
Would a customizable database be necessary? If so, I was told I would need a program like "Microdoft Access" or "Filemaker".

Thank you for any opinion.

Best,

Mike E.  

Answer
Hi Mike,

Any accounting software will fit your needs. As a service based organization your accounting needs are minimal. Your accounts would go along the lines of Cash (your money in the bank), Accounts Receivable (for services rendered and billed but not yet paid), Fees Earned (Cash or check payment for services rendered not on account, Supplies (tools of the trade you must buy that are listed as an asset to the company), Prepaid Insurance, Office Equipment, Mike E. Capital, Mike E. Drawing, Rent Expense, Wages Expense, Utilities Expense, Supplies Expenses, Miscellaneous Expense, Purchases, Sales (services rendered to clients), Wages Payable, and Accounts Payable (purchases you have made on account/credit). Your question is more about Accounting than Security and Investigations but I have provided what information I do know about the subject. I suggest you post your question to an accounting expert also. Your client base will show up in accounts payable and fees earned. It is essential that you adhere to proper accounting practices to achieve success in your P.I. business. You have to have your company completely seperate from your personal finance. Investors, Banks, Creditors, and even Clients will look at your accounting records as a standard of your organization. Every business owner should take a few accounting courses. I would recommend a few tips unrelated to your question. Only purchase the best equipment ... not only is this equipment an asset on the company books, it sells to customers. Always over acheive the customer expectations when possible, word of mouth brings more customers than any money invested in advertising, especially in the investigations field. When choosing service firearms, stick with Glocks, they are lightwieght and almost indestructable. My Glock .45 fires like a .22, virtually no kick. I hope I have been of some assistance even though this is out of my field of expertise.

Private Investigations and Personal Security

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Marc Bailey

Expertise

I can answer questions regarding various types of security. My knowledge base on the subject is very diversified. Physical security, security planning, executive protection, private policing, fire safety, proactive security measures, personal safety, professionalism in security, security service selection and criteria, security risk assesments, and human resource issues in security are some of the areas I can be of assistance in.

Experience

Former security supervisor at the State of Ohio Office Tower.
Former high rise office tower security director in a major downtown metropolitan location.
Current manager in a private police department.

Organizations
Security Information Network of Central Ohio
Protection Services Organization

Education/Credentials
State University of New York at Corning - Criminal Justice
Columbus State Community College - Fire Safety
University of Phoenix - Business Management
Myers University - Human Resources Management

Awards and Honors
Certified High Rise Fire Safety Director

Past/Present Clients
CB Richard Ellis Real Estate
Finsilver Friedman Real Estate
La Tapatia Ristorante
Holy Grace Church
El Hurrache Ristorante
Standard Parking
RW Baird LLC
Bailey Cavaleiri LLC
Announciation Greek Orthodox Cathedral

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