How to do Bookkeeping for Your Small Business

Why on earth would you worry about knowing how to do bookkeeping during the startup phase?

One of the important tasks in running a small business is tracking your transactions to calculate profits, work out who owes you money, and how much tax you will have to pay.

In the startup phase, cash flow is critical and the ability to record, analyze and interpret data about your business transactions can make the difference between making it and failing spectacularly!

To do this you will either need to know how to do the bookkeeping yourself, or make the decision to pay someone else to do it for you.

Even if you outsource your bookkeeping, you need to know a bit about it so that you are able to interpret the information your bookkeeper gives you.

Do you want to make decent decisions about your business?

Then you will need at least a rudimentary knowledge of bookkeeping!

In this section of the website you will find information about the bookkeeping basics.

• Bookkeeping Definitions
• Bookkeeping Basics,
• Double or Single Entry Bookkeeping
• What is a Chart of Accounts
• Debits and Credits
• What needs to be done and when.
• Basic Accounting Principles
• Setting up a Simple Bookkeeping 'System'
• Basic Bookkeeping Tasks,
• Managing your Petty Cash
• Recording your expenses
• Recording your sales
• Managing your asset records
• Doing a Bank Reconciliation
• Tracking your customers accounts
• Tracking your creditor accounts
• Choosing a Bookkeeping Software Package,
• Managing your Payroll,and
• Some Basic Bookkeeping Templates.

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