I hope to bring help to small business owners who may be struggling with bookkeeping concepts, business start up procedures and tasks that may be foreign to them. I have seen over the years that business owners are creative individuals, typically very busy and not very detail-orientated folks. Agree? That’s where I come in. Most business owners, especially when they are first setting up their small business, don’t have the time, patience and to a somewhat lesser extent, the know-how to set up a bookkeeping system for their business. It’s a vital task that should be done at the same time the business is setting up tax ID numbers, bank accounts, domain names, websites, blogs etc. Mistakes made early on in the life of a business can haunt them for years if not picked up quickly. A well set up bookkeeping system is one that is easy enough to work with on a daily busy yet detailed enough to provide useful information to the business owner, managers and bankers.
Items to consider when starting a business include:
- Type of business entity
- Registration of your business name
- Need for Federal ID numbers
- State tax (withholding and sales) ID and permit numbers
- Accounting software packages
- Chart of Accounts
- Checking accounts
- Domain names
- Branding your company image
- Social Media concerns
These are just some of the items that have to be seriously considered before you start doing business. It is my hope that I can provide information to you on these items, and if further help is needed I would of course be happy to offer my services through my own home-based business, Customized Business Services, LLC.
Actually looking at those bullet points above, it looks like I have a nice list of future blog posts! And yes, Social Media and Branding belong in this list, these are vital aspects of any business today and need to be thought of right from the start!
Please feel free to make suggestions, comment on any of my posts (if you agree or disagree) or if you would like further information on anything that I have stated. Besides maybe an occasional off-topic rant and rave, the purpose of this blog is to provide information to help you in setting up and maintaining a profitable business, and/or setting up a bookkeeping system that is fully functional and not just busy work.
I don’t pretend to know all the answers by any means, but I have been in accounting since 1978 and have provided accounting services to many individuals and businesses over the years. If I don’t know the answers to your questions, I know the folks that do!