If you want to do your own bookkeeping, but you’re wondering what it takes to do your own bookkeeping, then stay tuned! Today, I’ll share some insights with you about what you need to do before starting to work on your own bookkeeping.
Step #1: Set up QuickBooks Online
When you’re using QuickBooks Online, the very first thing you have to do is set it up. QuickBooks Online will attempt to do a basic setup for you, and it will even try to do a specific setup for your type of business. However, there are probably things about your business that are unique only to your business. Because your business is unique in some ways, you have to set up QuickBooks Online specifically for your business to get the most out of it.
Step #2: Learn how to work with QuickBooks Online
The second bookkeeping “DIY” prerequisite is to learn how to work with QuickBooks Online. In my blog, 5MinuteBookkeeping, I provide you with free QuickBooks Online training. Yes, be prepared that it will take some time, because you have to learn it from scratch. Compared to other software, QuickBooks Online is not what you would consider an intuitive software. That’s because QuickBooks Online is mainly a business management software. Because it’s an accounting and bookkeeping software, it’s very complex. It’s not as easy as just adding an app on your phone, and just learning it as you go. It does take time for you to learn, and you do need to invest that time if you want to be successful at doing your own bookkeeping.
Step #3: Develop a bookkeeping routine
After setting up QuickBooks Online and learning how to use it, the third essential is to get into a routine – to get into a rhythm of working on your own bookkeeping. This means that you need to do some tasks on a daily basis. Some task might be weekly, some might be twice a month, some might be monthly, quarterly, or annually. It all just depends on what you’re looking to do. However, the main thing is you do need to get into a routine.
Free Resources:
Wondering where to start? I have put together a couple of resources that you can take advantage of:
Bank Feeds Cheat-Sheet
One free resource is QBO Bank Feeds in five minutes a day Cheat Sheet. This is a free cheat sheet that I have put together to help you work through your QuickBooks Online bank feeds in just five minutes a day.
Daily Five in Five
The other free resource that I’ve put together is The Daily Five in Five. This is a list of five bookkeeping tasks that you should be doing every day. Look at it as a foundation of getting engaged with your bookkeeping on a daily basis. The most important thing you can do is to engage with your bookkeeping, even if it’s for just five minutes a day. Use The Daily Five in Five on a daily basis.
The worst mistake that business owners make, with their bookkeeping, is actually not doing any bookkeeping. So just spend five minutes a day on your bookkeeping and you will be amazed at what you can do!
Join our FaceBook Community
Want to connect with others, ask questions, and exchange ideas? Then, join our Facebook Community – 5 Minute Bookkeeping with QuickBooks Online.
