Bookkeeping made easy is when you have the right kind of bookkeeper to help you succeed, even though embarking on a new business can be scary.
In fact, it's so overwhelming to some people that they let their fears and anxieties stop them from going for it and giving their business a chance..
Don't be that person! Remember, that you ARE capable of running a successful business, and some parts of managing your business aren't as hard as you may think.
When it comes to bookkeeping, for example, you really only need to take care of a few basics in order for everything to run smoothly.
First things first, make sure you invest in some good bookkeeping software.
While you could keep complicated physical records, most would agree that this type of bookkeeping is outdated and overly difficult.
It requires math, leaves lots of room for errors, and your records could easily be destroyed or misplaced.
For bookkeeping that's a whole lot simpler and that can be "backed up" for your protection, invest in good bookkeeping software.
Most software programs will do all the work for you; all you have to do is input the information and then sit back while the software figures out the rest!
For more accurate and detailed bookkeeping, try using the double-entry method with your accounting software.
With this method, you enter items into your books twice to give more accurate information.
So, for example, any money spent on office supplies would be deducted on your account but also added to your inventory.
That way, you can see that you didn't truly LOSE the money; you invested it, and you can even see how much you made on your investment and if it was worth it.
Because double-entry bookkeeping gives you more information, you'll be able to accurately assess your business and its performance.
If you follow these tips, you can probably handle and balance your books with ease.
However, it's a good idea, especially before tax time, to bring in a professional bookkeeper to look over your records, point out any mistakes in your bookkeeping, and to offer suggestions.
Most bookkeepers will work on a contracted or hourly basis when you need them, so hiring semi-regular help is a great way to get some helpful feedback without having to employee anyone full-time.
As you can see, bookkeeping isn't all that hard- even for beginners- so definitely don't let concerns about this simple task keep you from reaching your business goals.