Have you ever pondered these questions:- What is bookkeeping? This page has the answers. If you are more interested in the principles of bookkeeping i.e. the system that enables the bookkeeping steps to work then go to double entry bookkeeping. |
![]() |
Bookkeeping can be broken down to three main steps:
Bookkeeping benefits the business owner because it:-
It sure is with a bit of patience, practice and consistency. Stick with the processes laid out in this guide and you can’t go wrong. Things only go off track when shortcuts are taken, or when dis-organization reigns or when laziness sets in.
Set yourself regular times to stay on top of the bookkeeping, and the filing, and the debt collecting... so things don’t get ‘out of control’.
If you’re a business owner and you really struggle with this side of the business to the point of jeopardizing it, outsource to a bookkeeping provider. Focus on the bits you like doing - those which got you starting a business in the first place.
Some people are just not cut out for sitting behind a desk and managing paperwork. If you know you can’t do it then make the right decision from the beginning and get help. Trying to save money can cost the business in the end with poor records and inaccurate reports.
Besides small business owners doing their own bookkeeping, there are thousands of people who choose bookkeeping as a career. Organizing numbers and paperwork, and utilizing their math skills is very appealing to a broad range of people. It is also also a stepping stone to more advanced accounting practices.
There will always be a huge need for this type of work. Every single business has to have a bookkeeping system and somebody to administer it. As long as business is alive and well on planet earth bookkeeping will be around.
There is a misconception that bookkeeping is boring and full of staid, dull men and women, but think about it... even Hollywood and famous people rely on bookkeepers to look after their sacks of cash. “Yes, Mr Pitt, I can have your expense report to you within the hour”. “Yes, Ms Portman, I have got that receipt for your flight to London...”. Nothing boring about that!
Ok, so not everyone will work with celebrities, but only you can make the decision for yourself about whether or not bookkeeping will bore you.
What is bookkeeping? It is a necessity to all businesses. It’s a respectable career choice for men and women.
There are opportunities for moving up to managerial positions such as Debtors Manager, Office Manager and so on.
You could open your own bookkeeping business and work from home.
You could do further studies and work towards becoming a Chartered Practicing Accountant, and open up your own Accounting practice.
Subscribe to get our latest content by email.
Apr 03, 18 10:44 PM
What is a Credit Card Balance? Get to know the balances on a credit card statement before you overspend or pay the wrong amount! Compare statement credit card balance with current balance, good credit…
Jan 18, 18 08:59 PM
Review of top business invoicing software FreshBooks; makes billing clients ridiculously easy without having to learn complicated accounting stuff
Nov 06, 17 11:17 PM
Starting a bookkeeping business with no bookkeeping or business experience is possible. How?
Back to Top : What is Bookkeeping
Facebook Comments
Leave me a comment in the box below.