How to Bookkeep in Apple Pages?
If you are a bookkeeper, you record the daily finances of your business. Bookkeeping is the process of recording all the financial transactions of a business. It is one of the devices making a business analysis. A study says that 82% of companies fall because of mismanagement. So it is crucial to bookkeep properly. Here are some ways on how to bookkeep:
1. Organize Your Account
Before you can start your bookkeeping, you need to manage your accounts. In accountancy, you don't just focus on a single bank account; you need to focus on all the financial transactions of your business. You need to start organizing different accounts to record transactions on their appropriate categories. These categories are assets, liabilities, equity, income, and expenditures. You need to be familiar with where to put the accounts. This way, you will have an easier bookkeeping process. Also, you can search for bookkeeping samples online to keep you guided.
2. Choose What Software You Will Use
In order to start bookkeeping, you need to choose what kind of software you will use so that you can set up your account. You can use Apple Pages for your bookkeeping since this wordprocessor is an easy-to-use application that helps you create documents. You can also save your receipts, sales, invoice, purchases, payments, your notes, and other files there.
3. Monitor Cash Transactions
The next thing is to stay informed about all the business transactions. There are two systems for bookkeeping, the first one is the single-entry bookkeeping, which is simply having a single-entry journal. Small businesses use the single-entry system because of their micro-manageable business transactions. Furthermore, another method is the double-entry bookkeeping commonly used in large scale businesses where everything has a corresponding account. These are accounting debits and credits. You need to decide which of the two systems you will use in your bookkeeping.
4. Frequently Post Transactions
As a bookkeeper, you need to post transactions every now and then. The frequency of posting on your journal depends on your transaction volume. You can either post weekly or monthly. Regardless of your schedule in posting transactions, it is important to update your journal. You don't want to miss any company transactions. Make sure to do your work on time so that your workload will not stress you out.
5. Analyze Your Ledger
You don't just record; you have to analyze. These activities will help you track how your business is doing financially. You can make basic comparisons or reports of the sheets. Then, you can leave the financial report analyses to the professional accountants because they are experts in auditing and analyzing these things.
6. Take it Seriously
Sometimes it gets very frustrating doing bookkeeping for your company or small business. However, you need to be responsible for this. Your company transactions have to be recorded and analyzed. If you have a small business, make sure that you separate cashflow and inflow since inaccurate recording will put your company to faulty financial statements.