How to begin bookkeeping for my husband’s business?
My husband has a bookkeeper for his business but we decided that maybe it would be best if I took over the bookkeeping so I have knowledge about his business. I have never done any bookkeeping and would not know where to begin. What do I need to take over the bookkeeping?
My first question would be how is the current bookkeeper keeping the books right now? Manually? Using QuickBooks?
First thing is to have a talk with the current bookkeeper and hopefully they will walk you thru the duties they've been handling.
The next step is to assess where the business is financially. Get a bank statement and verify the bank balance by preparing a bank reconciliation.
Then you will need to take over things like invoicing customers, tracking their payments, and making deposits. Also you'll need to pay the bills and monitor the bank accounts.
That should give you a good start.
Any other questions, feel free to send me an email using my contact me page.