Millions of small business owners struggle to complete their bookkeeping on a monthly basis, and for many of them, it is an unwelcome chore. Most people aren’t “accounting” or “financially” focused people, and most small business owners would much rather spend their time doing the fun part of their business which is providing the service or selling the product they went into business for.
So here are some bookkeeping and accounting basics which will help set you up for success:
- Software – QuickBooks Online is my favorite software to recommend for small businesses. Not only is it intuitive and easy to use, it’s a cloud based application which gives you access to your financial data from anywhere. Also, the software is scalable so you can upgrade the software between 3 different tiers as your business grows. Start with the basic version, and upgrade to more robust versions as you need…
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