Need a recommendation for a good book on basic bookkeeping. I just purchased Simple Start 2007?

Question

Hi,

I'm trying to get a small Ebay biz going and my biggest weekness right now is my understanding of simple bookkeeping. I just purchased Intuit's Simple Start 2007 bookeeping program. I'm looking for a good easy to read book to learn the basics. Better yet, a book that also helps with specifics on Ebay bookkeeping (if it even matters) and/or Simple Start 2007.

One more question... What kind of learning curve is invloved? In other words, how long will it take me (w/o any background) to learn?

Answer 1

Simple Start is a good program. I would suggest Simple Start for Dummies. You can purchase this book online at Amazon.com. I do not have this book, but I have the QuickBooks for Dummies book.

Basically, you just need to make sure you are recording all your income and expenses. For income, what the item sold for on Ebay. For expenses, the purchase price of the item, any listing and selling fees on Ebay, any PayPal fees and shipping fees. I am assuming that you will be using the invoices to record your sales and the check feature or the checkbook register to record your expenses so that will make it easier for you to do than making journal entries to record everything.

You will also need to set up your chart of accounts and I am sure that book I mentioned can walk you through that process.

Check with your local junior college in the continuing education department - they may offer some short term courses that may help you.

One more thing, anything you buy, like a book, paper, ink, etc. make sure you count that as an expense so you won't have to pay taxes on that money you spent on your business. The same goes for any education classes your take.

If you decide you don't want to do the bookkeeping part maybe you can find someone to do it for you for a small fee.

Good luck!

Answer 2

I would study. Bookkeeping is not easy, even if it is not total accounting. You need to get into it to fully understand. I think that most people toss finance aside, and hire someone because it is time-consuming. Check around for tutorials, and classes within your area that teach simple bookkeeping.