28 Jun Bookkeeping+ Tips for New Entrepreneurs
- Decide what business structure is best for your business model and then make sure to register the business appropriately.
- Pick a good bank and set up a business checking account.
- Open a credit card for business use only.
- Establish a bookkeeping process.
Some bookkeeping tips include:
- Ask a bookkeeper to set up QuickBooks and provide some basic training (often a 2-3 hour basic package) so you can start off confidently.
- Use the “Ask My Accountant” account for posting transactions you’re unsure about rather than guessing and making more work and confusion at tax time.
- Ask a Bookkeeper or CPA for help as needed (set up, reviews, troubleshooting, etc.) and don’t wait until the year is over to catch up on your bookkeeping. Procrastinating will cost you time and money.
For more bookkeeping tips for new entrepreneurs, read Amy-Sue’s full article.
Amy-Sue Hasselbaum is a certified QuickBooks ProAdvisor with years of small business experience. She holds both a B.S. and M.B.A. in Finance, and has built her expertise in the financial and real estate sectors. Prior to founding Hasselbaum Bookkeeping, she operated her own real estate appraisal business and was a board member of the Massachusetts Board of Real Estate Appraisers. Today, her clients include professionals in legal services, real estate, healthcare, and financial services.