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How to do bookkeeping for self-employed?

Bookkeeping is the process of tracking your income and expenses, so you always know what your money is doing. Bookkeeping for the self-employed is almost the same as bookkeeping for a small business, with a few minor differences. No matter if you are a small business owner or a self-employed person, bookkeeping is important to […]

How to do bookkeeping for nonprofits?

Bookkeeping is important for the health of any business, including nonprofit organizations. Proper bookkeeping helps to save time and money but also can help you to stay compliant, so you do not lose your nonprofit status. Bookkeeping for a nonprofit is similar to the bookkeeping process for other businesses. First, you track and record all […]

How to do bookkeeping for a restaurant?

Small restaurant owners often lack the time and resources to manage the business’s finances on top of everything else they have to get done. This is why it makes sense to hire a bookkeeper. A bookkeeper can take care of your business’s financial records and prepare the necessary reports for you to use to make […]

How to do bookkeeping for a business?

Bookkeeping is the process of documenting all the financial transactions of a business and using them to create financial reports that can be utilized to make financial decisions about the business. A bookkeeper basically maps out all the money coming into the business and going out of it, so there is a clear picture of […]

What is single-entry bookkeeping?

There are two methods to choose from to use in the bookkeeping process, single-entry and double-entry. Single-entry bookkeeping is when the transactions your business sees are only recorded once, usually in a cash book or journal. The single-entry method is similar to how you would keep a checkbook. You would record your transaction once, including […]

What is bookkeeping software?

Bookkeeping software is essentially a digital form of your company’s books. This software can track your income and expenses, and some also offer to track invoices, inventory, and payroll. The information tracked can then easily be used to create certain financial reports at the click of a button. Keep in mind, bookkeeping software makes the […]

How to do basic bookkeeping?

Bookkeeping is the process of tracking and recording all the financial transactions that occur every day within a business. Each transaction is categorized based on what it was for and recorded in the corresponding journal with the date, a brief description of the transaction, and the amount, which should signify whether it was a debit […]

How to create a bookkeeping system in Excel?

If you have a very small business, or you are just getting started as a business owner, you can get away with keeping your books using Microsoft Excel. With Microsoft Excel, you are most likely going to stick with the single-entry and cash-basis methods of bookkeeping. This means each transaction will only be recorded once […]

How to choose a bookkeeper?

Once you have decided to outsource your bookkeeping tasks, it is time to find a bookkeeper. There are a few things you should consider when looking for a bookkeeper. Location: Do you want someone you can see in person, or are you comfortable with the idea of only communicating via phone, email, and online? If […]

What is simple bookkeeping?

Bookkeeping is the process of tracking and recording all financial transactions that occur within a business every day. These transactions are organized into journals as credits and debits. There are a couple of different methods of recording transactions, including cash-basis versus accrual-basis and single-entry versus double-entry. Bookkeeping used to be done manually on paper, but […]

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