![]() ![]() The two basic accounting methods you have to choose from are cash-basis accounting and accrual accounting. You can’t keep books unless you know how you want to go about doing so. Take the time to develop your bookkeeping system with your accountant before you even open your business’s doors and make your first sale. Tip.eps Bookkeeping can become your best friend for managing your financial assets and testing your business strategies, so don’t shortchange it. It also provides you with lots of information throughout the year so you can test the financial success of your business strategies and make course corrections early in the year, if necessary, to ensure that you reach your year-end profit goals. Well slow down there - this isn’t a race! If you don’t carefully plan your bookkeeping operation and figure out exactly how and what financial detail you want to track, you’ll have absolutely no way to measure the success (or failure, unfortunately) of your business efforts.īookkeeping, when done properly, gives you an excellent gauge of how well you’re doing. You don’t want to sweat the small stuff, like keeping detailed records of every penny spent you just want to quickly build a business in which you can make lots of money. Like most business people, you probably have great ideas for running your own business and just want to get started. If you’re just starting a business, you may be your own bookkeeper for a while until you can afford to hire one, so think of this chapter as your to-do list. In this chapter, I provide an overview of a bookkeeper’s work. ![]() In return, the accountant helps the bookkeeper develop good bookkeeping practices and reviews his or her work periodically (usually monthly). ![]() For a small business, that expense is probably too great, so instead the owner hires a bookkeeper who serves as the company accountant’s eyes and ears. Introducing you to the world of bookkeepingĬhapter 1 So You Want to Do the Books In This ChapterĪrrow Introducing bookkeeping and its basic purposeįew small business owners actually hire accountants to work full time for them. Webextras.eps Visit for Great Dummies content online. Read moreīasic Bookkeeping: Why You Need It 9781118950364-pp0101.tif Whether you're just starting out with bookkeeping-or a bookkeeper who needs to brush up on your skills- Bookkeeping For Dummies sets you up for success. Provides guidance on producing balance sheets and creating financial statements.Includes updated QuickBooks screenshots and Excel spreadsheets.Offers easy-to-follow instructions to keep track of your business' financial well-being.So what are you waiting for? It's time to hit the books! That's where Bookkeeping For Dummies helps! Written in the familiar and friendly tone that has defined the For Dummies brand for more than twenty years, this clear and comprehensive guide covers everything you'll encounter as you set out to tackle your company's books, ensuring you're on the right track and saving you tons of headaches along the way. Packed with the most up-to-date bookkeeping practices, tax information, and small-business laws, Bookkeeping For Dummies is an accessible, invaluable resource you'll turn to again and again.Īccurate and complete bookkeeping is crucial to any -business owner-but jumping in headfirst without knowing your accounts from your balance sheets can confuse even the most astute businessperson. ![]() This handy guide gives you clear and concise information on how to keep track of accounts, prepare balance sheets, organize ledgers or journals, create financial statements, and so much more. If you're a business owner or an employee who manages finances, the latest edition of Bookkeeping For Dummies is for you. The fast and easy way to master the art of bookkeeping ![]()
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