Learn the bookkeeping basics for business owners and beginners.
Not doing your bookkeeping is one the single greatest mistakes you can make as a business owner.
For one, you can’t file your business taxes without your books being done.
#2 not having your books done can cause you to overpay on taxes because no one will be able to identify your deductions, including yourself, even the IRS says this...
and THIRD & most important at all - it can cause your business to FAIL - poor cash flow and financial mismanagement is one of the top reasons businesses fail.
As Warren Buffet once said, ACCOUNTING is the LANGUAGE of business. Good accounting isn’t about boring tedious record-keeping and taxes, it's really meant to help you make informed DECISIONS to grow your business, but you can’t do that without having financial information on how your business is ACTUALLY doing.
So today I’m going to help you get your books on track by giving you a very SIMPLE & EASY beginner’s guide to bookkeeping, as a licensed CPA that helps people manage their accounting & taxes everyday at mycpacoach.com #bookkeeping #bookkeepingbasics #bookkeepingtips #bookkeepingmadeeasy
Importance of Bookkeeping: (0:00)
Step 1: (1:15)
Step 2: (3:30)
Don't Make This Mistake: (4:20)
Step 3: (6:00)
Pro Tips: (7:13)
Step 4: (8:07)
Step 5: (9:36)
Step 6: (10:43)
Importance of Financial Statements: (11:50)