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It would be great if all business operators had an accounting staff handle their accounting needs. But many businesses Matt Breida Youth Jersey , especially if you are running a startup, cannot afford this. As a result, many of us decide to do our own accounting. It’s important to use an easy software program, such as the one you can get using a Quickbooks free trial coupon. Of course George Kittle Youth Jersey , you must also follow good accounting principles.


At a minimum, every business must keep track of all the revenue it generates as well as its expenses. To start, let’s take a look at revenues first. I usually keep an eye on all my deposits, and for me Jimmy Garoppolo Youth Jersey , the majority of them are deposits due to revenue. In Quickbooks, you would make an entry into income. Of course, expenses will be take out from this later to arrive at your net. Don’t get lazy and assume all deposits are income. Sometimes you might get refunds or other payments that should be classified otherwise.


Save all your receipts, as they make up the bulk of your expenses. The cash method is simpler than accrual Jerry Rice Youth Jersey , since you can then just record the expenses only when they are actually paid. Keeping an eye on your checking account is all it takes to do this effectively. I don’t recommend setting up accounts receivables or payables and getting overly complex, and the cash system works great for most small businesses.


Whatever program you select, makes sure it has the ability to generate good reports. You will need these when it comes time to file your taxes. A profit and loss statement and balance sheets are what you’ll need as minimum requirements. Other reports that you may find useful include cash flow statements, and statements of owner’s equity Joe Montana Youth Jersey , among a few others that may prove useful to you.


The best program in my opinion is Quickbooks. It offers a lot of great features at a price that is not outrageous. Quickbooks has handy interfaces that make things like bank reconciliation a breeze. Some people make it sound like you need no knowledge to use Quickbooks, but this isn’t true. You should at least have a general familiarity with accounting. The best way to check out this program is by getting yourself a Quickbooks free trial. I believe the trial lasts 30 days, which is ample time to determine if the program is something you want to buy.

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