Bookkeeping for Startups
- Updated on 02 Jul 2019
Updating your books on a regular basis is key for understanding your profitability as a business. Whether you use a bookkeeper, an accountant or a software you have to make sure that you are updating your books in a timely manner.
Bookkeeping basics for startups: Four key steps
For small businesses, there are four main steps in the bookkeeping process:
- Gather the source documents, including cheque records, deposit records, bank statements, bills from vendors, receipts for purchases and invoices issued to customers
- Enter the information from the source documents into journals and accounts
- Perform end-of-period procedures: balance accounts and perform reconciliations
- Close the books for that period
District 3 Service Provider
We are partnered with Serene Accounting to provide all our startups with bookkeping and accounting service at an excellent rate, with tools that fit the scale and activities of a startup.
Click here to check out their website.