Welcome ladies to a new week filled with loads of opportunities to set things right in our business.
As we wrap up the year, we thought to repost bookkeeping strategies to close your accounts for the year. This week, we will be taking excerpts from our live session with Dayo Yakubu of @globusbankng, we will be following through with discussions on bookkeeping, a huge necessity for achieving the financial goals of our businesses.
To begin bookkeeping for your business, the bookkeeping transactions can be recorded by hand in a book or using a spreadsheet program like Microsoft Excel. You can also step up by using specialized bookkeeping computer programs to keep books that show their financial transactions.
You can also decide to engage the service of a bookkeeper or do it yourself and use the services of an accountant every quarter or annually to ensure proper balancing of your books(we suggest quarterly). To do it yourself, you need to decide either to use a single-entry or double-entry bookkeeping method to record financial transactions.
Keep up with us tomorrow, as we mention the differences between Single-entry or Double-entry bookkeeping.
In the mean time, today if you do not have a proper bookkeeping process, create an excel sheet or purchase a journal to begin recording your transactions as we take this ride.
