I haven't posted in over a week and I apologize to my followers. I have been in the midst of learning Simply Accounting, a book keeping program that is not as simple as it sounds.
We bought this program a month ago as we decided we probably should start now when things are not too busy. It keeps track of inventory (which is fabulous) and it can be passed off to my accountant at the end of the year for tax preparation. I installed the program and quickly went to work. As I went along it became very clear to me that I had no idea what I was doing.
One peice of advice to new business owners - Recognize when you don't know what you are doing and ask for help. I knew I was in over my head but it wasn't until I went for "accounting classes" at my accountants that it became evident that had I continued on my own my book keeping would have been a TOTAL disaster.
It took two three hour classes but now I am confident that I am doing everything I need to be doing. I have a life-line if I encounter a unique situation which is a relief. Even though I have paid for the time of my accountant to set me up, in the long run I have probably saved money as they won't have to fix my mess.
I have been busy for the past week inputting all the expenses and sales since the business started in March. I am at August now so I am getting there. Sigh......
I never wanted to be an accountant but it looks like I will be now. I am also the PR department, Sales department, Shipping department, Creative Department.......
I am Glow Baby and I am proud of my accomplishments thus far.