Basic Bookkeeping For Owners
Bookkeeping Basics for Owners
Many small business owners and startup entrepreneurs are great at creating products and services, managing people, and establishing and maintaining customers and suppliers. Many of them however,throw up their hands when it comes to basic bookkeeping. Unfortunately, a small business owner has to wear many hats. As the business owner, if you don’t understand some basic bookkeeping and what information either you or your bookkeeper-accountant should be supplying you with in order to run a successful business you're doomed. You need to know everything about your business’s finances, not just your bank account balance. Why ? Proper information helps you to make good business decisions and plan for the future.
This "mini" tutorial is designed to provide owner's with a basic understanding of bookkeeping and what you need to know to run a successful business. With this knowledge you won't be "snowed" by an incompetent bookkeeper or accountant and will be able to discuss and understand accounting information with your bookkeeper or accountant.
A kind note from one of my site visitors sums it up nicely.I am a tired and retired small business consultant. The biggest problem I faced was that business owners didn't understand anything about their accounting. The worst part is they were too embarrassed to admit it.
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