This video is dedicated to explaining a super simple method of small business bookkeeping! I use this method of record keeping for my husband’s landscaping business, and throughout the last several years this has really helped cut down on confusion, stress and mismanagement of funds. We stick to a paper-and-pencil style of record keeping for his business because of the size of his company and the number of transactions he averages each month.
I talk through what documents you’ll need and how to use them to make your system as easy as possible! I’ve even attached my free Income and Expense document below for your use! I also talk briefly about what a bookkeeper could do for you as far as tax prep goes or how you could use these monthly records to help you annually with tax prep.
If you or someone you know needs help setting up their small business bookkeeping system reach out to me and we can talk about whether this system can be tailored to work for your specific business or if you might need a bookkeeper’s assistance in creating a system designed just for you!
//CHAPTERS:
0:00 Introduction
1:28 What you need for the bookkeeping system - the FIRST thing
2:39 What you need for the bookkeeping system - the SECOND thing
3:16 IRS Tax Categories
4:09 Example of how to use the system
8:04 How to create the annual report
//RESOURCES MENTIONED:
***FUTURE VIDEO - How to decide if my business needs a bookkeeper?!
//CONTACT:
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Sharing my story as I create my bookkeeping business!