From Shoebox To Quickbooks®
Any tips on where to start ... I have a year's worth of receipts, cheques, and statements.
Where do you suggest I start?
I'm going to give you two links on my site ... you will have to choose how to proceed.
As it is late in the year and you are probably getting the information ready to file your tax return, this is probably the method you want to use. It involves categorizing and tape listing receipts.
This option is great for filing an audit proof tax return. If you bring your information in this format to your tax preparer, you should be able to reduce your tax bill.
This second option is great if you want a full set of books to help you run your business AND meet your tax compliance obligations.
It is more work than the first option ... but it will help you establish procedures on regularly doing your books.
If it seems too large a task for you, you can certainly hire a bookkeeper to get the past year done ... then you could take over the data entry for the current year ... having the bookkeeper do your year end work each year.
Going this route means you have a second set of eyes reviewing your books ... to ensure you are properly classifying and recording entries.
See you on the next page ... Your tutor Lake