What should you be tracking in your bookkeeping system? Honestly, I wouldn’t dream of telling you what you should be tracking. Every handmade and/or creative business is unique and your bookkeeping system should be too.
- As a maker, you might need to track yarn support – while another may not.
- If you’re a pattern designer, you might sell your finished samples – while another gifts them or donates them to charity.
- Maybe as a designer, you might have a yarn stash that you need to track as inventory – while another may ONLY purchase the yarn for a specific design
- As a business, you might sell in multiple places – while another may only sell locally
There are just too many variables.
I’ve been doing this bookkeeping thing for a long time and I wouldn’t dream of telling you what you have to keep track of, but I can:
- tell you the types of things that you should be keeping track of in order to make the tax man happy,
- offer you suggestions based on your needs,
- and help you can create your own list (Chart of Accounts)
Which is totally different.
So, here’s what you’ll learn in the “What should you be tracking in your bookkeeping system?” mini course:
- The two main business reports that every business should be keeping.
- The different money tracking categories that belong to each report.
- We’re going to focus on a LOT of bookkeeping and accounting terms, but we’ll talk about them in a way that you can understand.
- We’ll discuss “accounting speak” terms like – Assets, Liabilities, Equity, Income, Cost of Sales, Cost of Goods Sold, (Overhead) Expenses, Other Income, and Other Expenses. These are the BIG bucket categories.
- I’ll help you design a Chart of Accounts (all those little buckets that money coming in and going out go into) for your business.
- We’ll talk about using spreadsheets or real bookkeeping software and you can make an informed choice.
Things you need to know about “What should you be tracking in your bookkeeping system?”
- This course consists of 6 – 1 hour live group sessions, held in a private Facebook group. (In my software business I’d charge $600.00 for 6 hours of training!)
- The course will run Monday October 19 and end on Friday October 30, 2020
- Live sessions will be held Monday, Wednesday & Friday from 1:30-2:30 EST and will be recorded & stored in the private Facebook group.
- You’ll receive a Free “Accounting Speak” eBook
Wondering why I’m offering a course like this?
- I don’t think you should be locked into using a system designed by someone who knows nothing about your business.
- Most of you hate bookkeeping and I feel that it’s because you have a system that doesn’t meet your needs.
- You’re totally overwhelmed by all the bookkeeping and accounting terms
- In order to make sound financial business decisions you need to be doing your bookkeeping consistently.
- And more importantly, you get to see what my teaching style is all about 🙂