Video: Small Business Bookkeeping

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Bookkeeping is crucial to small businesses in order to keep track of sales and profits. See the importance of bookkeeping with tips from a business consultant in this free small business video.

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Video Transcript

Most small business owners hate bookkeeping. The problem is it's probably the most important thing that you have to do as an owner. Several years ago I was asked to help a business who had a new competitor open up near their establishment. And when I went in and asked the basic questions, first one being, what are you selling the most of? And the second one being, what's most profitable of what you sell? Well the owner looked at me and basically said we've got one key in the cash register and it says sales. We sell eighteen different things but it all goes under sales. Well as an adviser, as a consultant how am I supposed to help that person, for instance market their most profitable item. They didn't have a clue to what it was. Your books need to reflect everything in your business, your books are your main conduit as to how well your business is doing. If you don't have a good set of books, you don't have a very well business.

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Small Business Bookkeeping

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