Chapter 1

Introducing the Bookkeeping Game

In This Chapter

arrow.png Working through the bookkeeping life cycle — from chrysalis to butterfly

arrow.png Matching bookkeeping systems to the game in hand

arrow.png Keeping the law on your side

arrow.png Settling into a certain mindset

arrow.png Deciding whether you need to get more training

In some ways, bookkeeping is like cooking up a fine meal. The process of washing and chopping and steaming and frying isn’t much to write home about. What makes everything worthwhile is the outcome: The hot taste in your mouth, the warm feeling in your belly. A good bottle of red simply adds to the fun.

In the same way, adding up receipts and paying bills isn’t the most exciting activity in the world. What brings the buzz to bookkeeping are the results: An organised office, cash in the bank and a set of financial reports that help a business succeed. After all, without a Profit & Loss report, how does a business know how it’s doing? And without a Balance Sheet, how can a business owner gauge their ...

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