My husband has started a new business and I have to do all the paperwork and such. I need to find a free site or manual to help me figure out how to keep things in tackt and how to run this thing. Can anyone help me?
2007-01-04 11:29:20 · 5 answers · asked by Lynn T 1 in Business & Finance ➔ Small Business
I have to get help as soon as possible in assisting me in running the paperwork for this new business of my husbands. Where can I get some free guidelines and help on doing this?
2007-01-04 11:33:57 · update #1
Look at your local government website, they usually have resources for small businesses. Also get a commercial/tax/corp lawyer who has experience and expertise with small businesses they are probably your best resource.
You might also want to seek the help of an accountant to help you set up an organized accounting system before your business is up and running.
2007-01-04 11:35:40 · answer #1 · answered by Muga Wa Kabbz 5 · 0⤊ 0⤋
Start with a well-formatted chart of accounts for your bookkeeping.
For example:
1000 - 1999 ASSETS
Cash & Cash Equivalents
1001Petty Cash
1002Cash in Bank #1
1003Cash in Bank #2
1004Cash in Bank #3
1005Cash in Bank #4
1006Marketable Securities
1007Line of Credit
Accounts Receivable
1200Accounts Receivable - Trade
1210Accounts Receivable - Other
1280Allowance for Doubtful Accounts
Other Current Prepaid Expenses
1300Prepaid Expenses - General
1330Prepaid Insurance
Inventory
1400Inventory - Merchandise
1410Inventory - Rental Equipment
1420Inventory - Miscellaneous
1430Inventory - Supplies
1440Allowance for Obsolesence
Fixtures, Furniture, & Equipment
1500Fixtures & Furniture
1510Machinery & Equipment
1520Vehicles
1530Building
1535Leasehold Improvements
1540Land
1600Allowance for Depreciation
Other Long Term Assets
1700Other Assets
1710Prepaid Taxes
1720Intangible Assets
1730Amortization Costs
1740Good Will
2000-2999 LIABILITIES
Current Liabilities
2100Current Portion of Long Term Debt
2200Accounts Payable - Trade
2205Accured Current Liabilities
2210Federal Withholding Payable
2220State Withholding Payable
2240Social Security Withholding Payble
2241Medicare Withholding Payable
2250Pension Plan Payable
2260Child Support Payable
2270Garnishment Payable
2280State Taxes Payable
2285Sales Taxes Payable
2290Accrued Property Taxes
2299Accrued Insurance Payable
Long Term Liabilities
2610Notes Payable - Bank 1
2620Notes Payable - Bank 2
2630Notes Payable - Bank 3
2700Notes Payable to Shareholder
2999Current Portion of Long Term Debt
3000-3999 STOCKHOLDER'S EQUITY
Equity & Ownership
3010Common Stock
3020Additional Paid In Capital
3030Shareholder's Distributions
3040Dividends
3050Current Earnings
3100Retained Earnings
4000-4999 REVENUE FROM OPERATIONS
Revenue Streams from Operations
4010Revenue 1
4020Revenue 2
4030Revenue 3
4040Revenue 4
4050Revenue 5
4060Service Income
4100Other Revenue Source
4110Sales Discounts
4200Returns & Allowances
5000-5999 COST OF SALES
Direct Materials
5010Cost of Sales 1
5020Cost of Sales 2
5030Cost of Sales 3
5040Cost of Sales 4
5050Cost of Sales 5
5100Other Cost of Sales
5200Operating Supplies
5220Equipment Rental
5230General Freight
5240Linens & Uniforms
5250Small Tools
5260Asset Breakage / Replacement
Contractor
5400Contractor Expenses
Direct Labor
5510Direct Labor
5520Direct Labor - Payroll Taxes
5530Direct Labor - Workers Compensation
5540Direct Labor - Benefits
5550Re-Work
Direct Overhead
5610Supervisors Salaries
5620Supervisors - Payroll Taxes
5630Supervisors - Workers Compensation
5640Supervisors - Benefits
5710Depreciation
5720Leased Equipment
5725Repairs & Maintenance
5730Sales Commissions
5740Telephone Charges
5750Utilities - Electricity
5760Utilities - Gas
5770Utilities - Waste Removal
5780Vehicles Gas & Oil
6000-6999 ADMINISTRATION
Administrative Payroll & Related
6010Officer's Salaries
6020Administrative Salaries
6030Sales & Marketing Salaries
6040Payroll Taxes
6050Pension Plans
6060Insurance - Workers Compensation
6070Employee Benefits
7000-7999 GENERAL EXPENSES
General Expenses
7010Advertising
7020Bad Debts
7030Bank Charges
7040Building Lease
7050Computer Tech Support
7060Consulting Fees
7070Contributions
7080Depreciation - SGA
7090Dues & Subscriptions
7100Entertainment
7110Extermination Expense
7120Grounds Maintenance
7130Insurance
7140Interest Expense
7150Janitorial Services
7160Leasehold Improvements
7170Legal & Accounting
7180Licenses & Fees
7190Miscellaneous
7200Office Equipment Leases
7210Office Supplies
7220Parcels & Postage
7230Printing & Production
7240Professional Fees
7245Rent
7250Repairs & Maintenance
7260Sales Exp. - Lodging
7270Sales Exp. - Meals
7280Sales Exp. - Transportation
7290Security
7300Subscriptions
7310Taxes - Other
7320Taxes - Property
7330Taxes - Sales Use Tax
7340Telephone
7350Travel Expenses
7360Utilities - Electricty
7370Utilities - Gas
7380Utilities - Sewer & Water
7390Utilities - Trash Removal
7400Vehicles Gas & Oil
8000-8999 OTHER INCOME (Non Operations)
Other Income
8010Interest Income
8020Gain on Sale of Assets
8030Prior Period Income Adjustments
9000-9999 OTHER EXPENSES (Non Operations)
Other Expenses
9010Other Expenses
9014Federal Income Tax Expense
9015State Income Tax Expense
9020Loss on Sale of Assets
9030Prior Period Expense Adjustments
2007-01-05 02:48:56 · answer #2 · answered by Michael, Count de Berçon 2 · 0⤊ 0⤋
The IRS website has some free online classes to assist. Go to http://www.irs.gov/businesses/small/article/0,,id=97726,00.html
You can also go to the below link and take some other free online courses that will assist you in your business. Good Luck.
http://utsa.edu/sbdcregional/regmodules.cfm?cntrID=2
2007-01-04 23:03:45 · answer #3 · answered by frr_ls 2 · 0⤊ 0⤋
Quickbooks software is awesome and you can track absolutely everything or there are other Accounting software available for this type of thing. You may have to spend a small amount to get what you want and stay organized but it will be worth it.
2007-01-04 23:02:19 · answer #4 · answered by GR8WIFE 2 · 0⤊ 0⤋
The Small Business Association (SBA) has a lot of information that you can use as well as answer your questions more clearly.
2007-01-04 19:40:45 · answer #5 · answered by Dee_Smithers 4 · 0⤊ 0⤋