My husband and I are starting a very small home business. Is it too old school to keep manual records?
Yes you can keep manual records
using a Synoptic Journal ... but I don't know why you would want to. You lose the ability to use the financial information to help you run your business.
If you are unsure how to get started, here are two suggestions:
First check out Intuit's free QuickBook offer for Simple Start at Cnet Download.com
. (Canadian visitors, that link is for the U.S. version. Click here for the Canadian version called EasyStart
You can download their free introductory bookkeeping system for free. Play around and see if it might work for you. Don't be scared of it.
The benefits for your business are:
- tracking of every cent of every business transaction so you can run valuable business reports;
- organizing your records for easy tax preparation throughout the year instead of at tax time; and
- automating routine transactions freeing up your time for other things.
Next, you might want to check out my article How To Start Doing Your Own Bookkeeping