![]() ![]() ![]() Sales: The account where all your incoming revenue from sales transactions. Here is a list of bookkeeping types you should understand: You are going to need to understand some basics about bookkeeping to make things much easier in the long run for you. They do this monthly, quarterly, or yearly, based on your needs. ![]() This is also advantageous because you will always have a good idea of how things are going, and you won’t be paying someone else to keep your books.Īccountant: Accountants are usually responsible for general oversight of accounts and producing tax documents and financial statements that comply with local and federal laws.īookkeeper: A bookkeeper will dig into the nitty-gritty of everyday financials for your company to keep a lasting and accurate record of all your finances. Making mistakes can cost you big down the road, but the more you do it yourself, the easier it will become. You don’t need a degree to do your own books, but it can help! Here are the differences between your bookkeeping options.ĭIY: If you have the time and a bookkeeping app, you can keep your own records pretty easily. Look for a software suite that makes sense for your needs and the size of your business. This is the best option for proper record keeping. Human error can easily creep into your spreadsheets and wreak havoc down the road.īookkeeping Software: While the most expensive option, bookkeeping software can offer a lot of features that make aspects of keeping records clean and easy for you to understand. Spreadsheets: This method gets you into a digital format that can be a little easier to search quickly. This can be very cumbersome, especially when / if you are audited or need to recall something quickly. Here are the three most popular options:Īccounting Book: Manually keeping track of your books in a physical accounting records book is a tried and true method for bookkeeping. Record keeping is the best place to begin when trying to get an idea of where you stand with your books. Of course, we here at TenKey are always happy to help with all of your bookkeeping needs, so should you ever need help with your books or perhaps CFO Services, we have you covered! Just give us a call at 97, and we will have you sorted out in no time. With this guide, you can keep your own records and avoid the hassle of incorrectly kept books. But it’s made much more difficult if you don’t have a basic understanding of what to do and why. Is bookkeeping a headache? Yes, it can be. ![]()
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