Bookkeeping Setup: SPREADSHEET SYSTEM
You have a choice between a spreadsheet and software when you set up bookkeeping.
This section will teach you how to set up your books on a SPREADSHEET.
Spreadsheet bookkeeping is good for:
This section will teach you how to set up your books on a SPREADSHEET.
Spreadsheet bookkeeping is good for:
- people with fewer transactions
- people with simple/straightforward businesses
- people who don't need to track numbers more often than every quarter
- people who don't need to run reports (like Profit + Loss statements, Balance Sheets and Statements of Cash Flow)
- people who don't need to track COGS (cost of goods sold. NB: Independent Artists, Writers and Performers are not required to track COGS. Other sellers of physical products ARE required to)
If you need reports, payroll, COGS or have a lot of moving parts, then you should choose to set up your books using software, not a spreadsheet. (See the next section).
8 Lessons