EP11: DIY Bookkeeping
Bookkeeping in my opinion is the most important function in your business, so whether you are a small business, seasoned business or just starting out, bookkeeping should be prioritized. Good bookkeeping makes you a better business because it helps you have a better understanding of your business, manage your finances better, review performance, plan and make decisions and helps with compliance. My five steps to DIY bookkeeping are 1) finding the right system 2) understanding the foundation of bookkeeping 3) recording transactions 4) bank reconciliations 5) review your financial statements.