Bookkeeping for Small Business

There are several ways to get your bookkeeping done. The easiest is to hire it out. Honestly, the $200 it costs me to hire someone from http://www.ifreelance.com/ or http://www.guru.com/ to do my books is well worth the cost.

What? You still think you have to mail a file of receipts to the bookkeeper? Welcome to 2008

You can now download excell and database files from your bank, or paypal. I always download the excel sheets because they can be altered to fit several software programs. I delete all he wasted files in the middle with descriptions of the product.

I never buy anything for the business with cash. I always use my visa card. Yup - they'll give you an excell sheet too.

Next

The book keeper cleans these files up and then clicks a button - voila - all those enteries are in the bank.

The book keeper must set everything up the first year, but a good one can do this for a flat rate. If the freelance bookkeeper or contractor asks for an hourly rate to set up a small set of books then beware - they may not be experienced - or they are not customer oriented.

The second year, the book keeper only needs to enter in a few numbers.

Now, there are some other things they need to do. Calculating depreciation, and balancing the inventory and bank account needs to be done manually.

You can do this, but It takes me 2 weeks to get everything done right - and I can make $1000 in that time.

You can find a good book keeper at http://www.ifreelance.com/ or http://www.guru.com/. Or you can check the local phone book.