This video is to inform viewers about bookkeeping if they own a small business. Owning a small business is very popular in society right now because it allows people the freedom to make money from something they are passionate about. Owning a business is no easy feat and when thinking about starting a small business, it is important to do your research completely so that you have an idea of how to start and the tools you will need to get the job done and to sell your product or service with little to no hassle.
Over time it will get easy as you begin to start out but it is important to always keep in mind your finances. One thing that is a good idea to start with is setting up a business account at a bank, getting an EIN or tax number, and beginning to save your receipts for anything business-related.
Learning about the basics of bookkeeping is important because it allows you to begin to get your business finances together and be able to separate between your business and personal expenses so you do not get them confused. Some people hire a bookkeeper but when you are starting out, it may be easier on your pockets to do the bookkeeping yourself. That is why watching this video and others will give you a great perspective and understanding of what bookkeeping is and how to do it for your small business.