Single Entry Bookkeeping
Q 1: Do you know any site I could download (to print off for temporary manual use) a single entry bookkeeping spreadsheet?
Answer: Yes, here's a pdf version, and here's an excel version
Q1: How should an equipment lease payout be shown in the books
Answer: Go to buy vs lease equipment to find out what's best for a business, and how to treat these in the accounts.
Bookkeeping Questions for Starting a Small Business
Q 1: I want to start my own bookkeeping business with
guidance from an accountant. Will it be possible to do so with only accounting from high school. I’ve done a
bookkeeping short course which was just an overview of bookkeeping and how some
accounting software works?
If you have enough determination, then anything is possible!
As long as you are always willing to keep learning. This may require you to
take more bookkeeping and accounting courses, perhaps at your local college, because
this will help you grow in knowledge.. and confidence.
Look at it this way. To run a bookkeeping business, you will want your
clients to trust you and your abilities to look after their financial
Put yourself 'in the shoes' of your prospective client and ask yourself:-
- If I had a business would I employ myself to do the bookkeeping?
- Do I convey enough confidence that I know what I am doing?
- Am I careful and accurate with numbers?
- Am I trustworthy knowing that a business can count on me to do their
- If I get stuck on something, do I have someone to turn to for advice
(you said you have an accountant friend to help you)
Start small, set your goals for the future, decide what you need to do to
acheive those goals and stay focused. If you were planning on only doing
the bookkeeping for your own business I wouldn't worry too much about doing the
extra studies, but because you want to look after other people's books, I do
recommend going for advanced bookkeeping classes; maybe at night whilst you
work at something else during the day.
As mentioned at the top, if you have any bookkeeping questions you would like an answer to, simply send it to us using the contact form, making sure you put lots of detail to get a full answer.