Question… What IS bookkeeping?
I mean seriously, what the heck is it?
At some point, your business coach has told you (or will tell you) that you need to let some things go.
That you can’t do everything by yourself. That you need some help doing the things that you probably aren’t all that good at…
Starting with your bookkeeping…. she told you that you need a bookkeeper, accountant or CPA but wait a second…
What the heck is bookkeeping? What the heck is accounting?
What IS Bookkeeping?
The activity or occupation of keeping the financial records of a business.
What does that mean? Really?
Bookkeeping (my definition) is the dailies… the keeping track of the pennies.
Common Bookkeeping Tasks
Here are a few everyday bookkeeping tasks…
- invoicing your clients
- recording cash received
- recording payments to vendors/suppliers
So Bookkeeping Is….
So it’s the act of keeping track.
Keeping track of your everyday financial stuff.
And it applies to more than just businesses.
Bookkeeping applies to personal finances as well.
Now that you know what it is… let’s talk about you doing your bookkeeping on a regular basis!
If you would like more information on bookkeeping, what it is and how it’s done around these parts… leave a comment below. I would like to hear from you.
I don’t have a thorough bookkeeping system, and I know I need one!
For personal finances, I use an app on my phone and for business, a simple Excel spreadsheet. My only question is what and how to track things.
Right now, it’s basic: money in and money out. It’s not as detailed as I’d like it to be, though.
This is definitely on my long list of things to get set up! Thanks for the motivation!
Hi Jennifer, thanks for stopping by.
I may have a few suggestions for you but I like to gear them toward the “money personality” of the recipient. So with that being said, what app are you using for your personal finances?
I had an android and was using a simple app called Budget Simple. I’ve now switched to an iphone and have downloaded the EEBA app, which I’m not liking. I’m on the hunt for a better app!!
I think Waveapps.com and Xero.com both have a phone app for either platform.
I will give those a shot! Thanks for sharing!
you may also want to check out Freshbooks.com (found out today that they have a pretty good iphone/ipad app). Let me know how you make out with my suggestions and if you need any help.
You really have explained it in a very short and precise article. Good job Joyce
Thanks for the compliment. I appreciate it.