A financial expert can give individualized bookkeeping advice specific to your unique business while providing a more in-depth look at the basic principles we cover here. Along with reading this page to get a quick bookkeeping overview, we always recommend meeting with a CPA (certified public accountant) or bookkeeper long before you open your doors-or, if you've already launched your business, as soon as possible. But whether you plan to do bookkeeping yourself or outsource it to an accountant, it pays to understand the basics of bookkeeping.īelow, we'll break bookkeeping down to its most basic principles. ( Free bookkeeping software can help you save money if you're just starting out.) Alternatively, in-house or outsourced bookkeepers can update your books for you, typically for a monthly fee. Fortunately, most small-business bookkeeping software was made specifically for non-accountant small-business owners. If you've never worked in finance before, small-business bookkeeping can feel overwhelming. It's foundational to running a profitable business-after all, if you don't know how much you're making or where that money is going, you'll have a hard time finding ways to expand your profitability. Bookkeeping is the process of recording your business's financial transactions so that you know exactly how much you're making and where your money is going.
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