Doing the Books
You don’t have to be a CPA to get up to speed on basic accounting. Today’s easy-to-use accounting tools make managing the day-to-day books achievable for any business owner. With the right accounting software, proper setup for the basics within the system, an understanding of typical accounting transactions, and proper guidelines and procedures, you can be well on your way to getting a handle on your business bookkeeping, no matter what size your business.
Part 2 helps you get started from scratch. We start by discussing your options for accounting software and offer guidance on selecting the right program for your business. From there, we give you the steps for getting your system established, including setting up for your accounting method and establishing a chart of accounts to classify items for money spent and received and more. Then, we walk you through the key day-to-day activities for keeping the books, such as inventory management; handling transactions such as invoices, checks, and deposits; making online transactions; working with the general ledger; and finally, reconciling statements.