Bookkeeping Articles

The aim of these bookkeeping articles is to support the growth of small businesses by providing insight into bookkeeping and office processes and to answer questions.

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Bookkeeping Articles

Bookkeeping Articles Selection

9 Key Reasons For the Importance of a Bookkeeping System

You might be doing your own bookkeeping due to financial constraints.

Before you dive in, let’s highlight what the key reasons are for going to all the effort of implementing a system.

These reasons will not only highlight the importance of a bookkeeping system, but also hopefully encourage you to stay on top of your bookkeeping knowing that there are benefits and good outcomes to be gained.

Is Bookkeeping Hard?

Whether you are a small business owner thinking about doing your own books, or you're thinking about going into bookkeeping as a career, we talk about things that could make bookkeeping hard for you, but it all depends on:

  • your existing skill-set
  • your willingness and ability to learn bookkeeping and new technologies
  • your time available (especially for owners of startups)
  • and more

Bookkeeper Duties

From basic office procedures such as opening mail up to producing financial reports for the business owner, there is a long list of things that can potentially be done, including:

  • Reconciling the bank account
  • Accounts payable and receivable procedures
  • Keeping bookkeeping software up-to-date
  • Counting stock, and so much more.

online store accounting

5 best tips for setting up the accounting for your online store, including:

  • get the right bookkeeping software
  • pick the right payment gateway
  • select the applicable tax settings 
  • find out the true cost of selling your product

8 Invoicing Apps

8 invoicing apps to help small business owners bill their customers and receive and track payments, including:

  • Bill.Com
  • And.Co
  • Wave
  • FreshBooks

Tips to Manage Money - Business

12 tips to manage money for small business to achieve good cash flow and improve your confidence, including:

  • Handling bank accounts
  • Getting customers to pay in advance
  • Set up a budget and cash flow projection
  • Reading reports and debt ratios
  • Getting support and mentor help

Managing Money Tips - Personal

Managing money tips to help you organize your personal money and reduce overwhelm and stress. Set your goals, make a plan. These 16 tips include:

  • impulsive spending
  • saving money
  • how to split money between accounts
  • combining debts
  • use a money app...
  • and more

Invoicing Best Practices

Find out the best practices around invoicing your customers to protect your cash flow and keep the money rolling in every month, including:

  • A simple solution to avoid cash flow issues
  • How to make invoices customer friendly
  • The different ways to make payment easier
  • Managing unpaid invoices

Follow these tips and avoid running into cash flow issues that cause you to lie awake and worry at night.

Bookkeeping for Small Business

Here are 7 brief tips from a qualified CPA on what small business owners can do to stay on top of their finances. These include:

  • You can never know too much
  • Reconcile frequently
  • Plan ahead when it comes to taxes
  • Stay on top of overdue customer payments
  • ...and more

You will get access to the IRS tax calendar, tips on software, and even how to study and become a CPA if this is your interest!

Bookkeeping 101

This Bookkeeping 101 guide will help the self-employed person to start off their Bookkeeping processes with the right systems and the right ideas! These 10 steps cover topics like:

  • what is bookkeeping 
  • is bookkeeping the same as accounting 
  • know the purposes of bookkeeping 
  • can you do your bookkeeping yourself? 
  • bookkeeping basics... 
  • ...and more

Get the knowledge, make good decisions and increase your confidence as a business owner.

Free Bookkeeping Courses

Free bookkeeping courses are the cheapest and best way for owners of business start-ups to learn how to start and look after their business accounts. These courses will show you:

  • double entry bookkeeping
  • bank reconciliations
  • financial reporting
  • working with customers and suppliers
  • managing cash flow (money in vs money out)
  • ...and more

Become a financially literate operator of your business to help it grow, and not fail after 4 years like half of other small businesses in the USA.

Bookkeeping Example

Have you wondered how a business transaction affects each aspect of the bookkeeping records when it is entered?

This article takes 2 business transactions, income and expense, and shows you what happens in each section listed here:

  • General Journals
  • General Ledgers
  • Report
  • Cashbook

The examples are for manual bookkeeping (the good old-fashioned hand-writing type!), and for computerized bookkeeping using the free software Manager accounting.

What is a Credit Card Balance?

There are a few different balances that can be found on a credit card statement and knowing which is the balance you have to actually pay to the credit card company, or to find out how much you actually have available to spend, can be tricky. Here are the names of some:-

  • Opening balance
  • Closing balance
  • Statement balance
  • Current balance
  • Available balance...

Are you already wondering if you just paid the right amount?

12 Small Business Bookkeeping Tips

There are 12 tips relating to issues that either affect the business accounts or which the bookkeeper (which could also be the owner) will have to handle. 

They include:-

  • Types of bank accounts
  • Recognizing personal vs business expenses
  • Business documentation - what to do with it
  • Handling Cash
  • Bookkeeping software and other helpful programs 
  • Bookkeeping reports – are they necessary
  • Employing people – being a responsible employer

Cloud Bookkeeping

Find out what bookkeeping in the cloud means and what the benefits are that a business can gain from it.

You will also learn about some not-so obvious benefits such as:

  • easier audit protection - tracking receipts and changes to information within software
  • near real-time reports - your accounts information at your fingertips enabling you to make wise decisions
  • all-in-one processing capabilities - about software that has every aspect of bookkeeping in one place

Bookkeeping Business Names

Starting up a bookkeeping business? This article has some ideas on choosing a name. 

  • What’s in a name?
  • How do you want other businesses to see you?
  • What kinds of businesses are you targeting?
  • Should you use your own name?
  • What is ‘trading-as’?
  • Bonus: a list of names to help get you started with brainstorming

Other Relevant Topics:

Bookkeeping Questions

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