Accounting can be a confusing topic. You may have taken an accounting course and disliked it or even hated it. Doing the books for a business you own is not the same as learning about widgets in an accounting class. You are more interested and invested in your own business. Knowing some basics of accounting is an important skill for any business owner.
Simple Profit provides the education you need, when you need it, for free or at a very low cost. Get answers your questions gives you the tools to help make business decisions.
* Can you do your own bookkeeping? *
Yes! Even without an accounting background, doing bookkeeping involves understanding how to use a spreadsheet or software, which most people can learn. Many bookkeepers themselves do not have accounting backgrounds.
You can save a lot of money doing your own bookkeeping. It may not take much extra time either, because with a bookkeeper you have to tell them what things are for them to post accurately, whereas you already know what you purchased and why. You have to check the work of a bookkeeper (do not hire a bookkeeper and fail to check their work). This takes time. You also need to understand your numbers, and when you do your own books you are understanding as you go.
* Do I have to have an accounting system? *
Yes. All business need some records to show what they brought in and spent, whether a spreadsheet or software. A client management system or EHR/EMR is not sufficient for accounting and taxes.
Keeping these records up during the year makes tax time much easier. It also helps you make timely, good business decisions when you know what is going on financially.
* What are my options for accounting *
You can choose a spreadsheet or software. In the membership I have:
- A video that shows you various options to help you choose.
- Two accounting spreadsheets set up with tutorials.
- Lessons on various software and support to get your questions answered.
- Pay a low fee to have your accounting software set up and learn to use it or having your existing software assessed.
- Pay to have Simple Profit to do your bookkeeping for you if you don't want to do your own.
* What if I have more questions *
It's common to have questions about accounting and bookkeeping, even if you use a bookkeeper.
Simple Profit has many ways to learn more, get education, answers and support. See the list of free resources and low cost membership resources related to estimated taxes below.
Free Resources
Simple Profit free resources for estimated tax include:
- Accounting System Blog (link)
- Simple Guide with tons of FAQ on deductions and taxes (video preview below, scroll to join)
- Free tax deduction checklist: (link)
- Tax deduction video: (link)
Watch the video below for an overview of the free resources found at Simple Profit.
Low Cost Resources
Inside the membership you can:
- Ask unlimited accounting questions
- Download 2 different accounting spreadsheets
- Watch tutorials to setup and use accounting software
- Have Simple Profit setup your accounting software, sign up for 1:1 coaching or have bookkeeping done for you.
The video below explains what is available in the membership, more than you can get from any other CPA at this low price.
Learn accounting, tax and business analysis topics, build confidence and reduce anxiety while managing your day to day operations.
