Backyard Entrepreneur^TM

Accountant

If you want an accounting of your worth, count your friends.
 --Merry Browne

Organize your account and business records for an efficient operation. Organize your life and your surroundings, too. 

Take Accounting Classes

Being an accountant is just one of many hats you will wear for your business venture.  There's no way around it, you will have to keep records for your business venture. You do not have to have a business degree or be a CPA, but a few classes might help.  Use the Internet and learn all you can. 

 Get a Software Package

Any well-intentioned and industrious Backyard Entrepreneur is in it to make a buck.  And the only way to keep tabs on your earnings is with the use of some form of double entry accounting. A simple set of ledger books may be sufficient.  Or, you may want to utilize some sort of software package on your home computer (e.g., Microsoft Money, QuickBooks Pro, etc.).  You should have no trouble keeping tabs on how you are doing if you 'close your books’ at the end of every month.  After you close, you will be able to generate a couple of useful financial statements. The income statement will tell you how much you have earned over a period of time, after subtracting cost of goods, expenses and taxes from your gross revenue.  The balance sheet will outline your assets, liabilities and owner’s equity, at some point in time.  These two basic statements will give you an indication of how well you are doing, and they will help with your budget, your short‑term plan for the future. 

 Keep Accurate and Organized Records

Make certain you keep receipts and copies of orders.  You will need file folders and a file cabinet.  As you grow you might need the services of a CPA for your taxes.  Don't get in the habit of tossing all documents into a showbox to be sorted out later.  Get organized from the very first day and stay on top of it.  Do not put off until tomorrow what can be done today.

Organize your Surroundings

Before beginning a business venture, it is best to have your life and surroundings in order.  Orgainze your closets, the garage, the kitchen, the bedrooms, and the den.  Get your ofice or office space organized and all set up.  You will get so involved in your business that you will not want to stop to get the rest of your life in order. 

Buy a file cabinet and some files.  You will need a calendar, a clock, an index card file, and many pens and pencils.  Not every thing can be kept in a computer file, you will need to file away original copies.

© Backyard Entrepreneur^TM 2007

Link to us.  Contact us if you want to have your site listed here as a resource for accounting records or related topics.

Here are some ideas and resources to help you get organized.

Links

Books

Equipment

Supplies

A Name Stamp for your Office

Signature Stamp - $ 15.95 This rubber stamp can be customized with your ACTUAL signature and can be used to stamp any documentation. Great for people to sign multiple documents and make thousands of impressions. Save time and money with a signature stamp.

2" x 10" Silver Standard Aluminum Wall Sign - $ 13.50 2" x 10" Silver Standard Aluminum Wall Sign. Price includes engraving!

All kinds of Office Supplies

Lloyds of Indiana