When it comes time to set up your financial books, you have two options, do it yourself or hire an accountant or bookkeeper. We suggest both; keep your own books for all daily, weekly and monthly transactions. However, we suggest you have an accountant set up your accounting software so you get started right, then have your accountant do your quarterly and year-end statements and tax forms.
If you opt to keep your own books, make sure you invest in accounting software such as Quick Books Pro, however there are a number of products on the market that you can choose from. Most products on the market today are easy to use and they make bookkeeping enjoyable. Most accounting software programs allow you to create invoices; track bank account balances, merchant account information and keep track of accounts payable and receivable. A good accounting program will give you a detailed dashboard of your businesses financial performance so you know exactly how your business is preforming.