O'Reilly logo

Bookkeeping For Dummies, Australian and New Zealand Edition by Lynley Averis, Veechi Curtis

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

Chapter 1

Introducing the Bookkeeping Game

In This Chapter

Understanding the bookkeeping life cycle — from chrysalis to butterfly

Matching bookkeeping systems to the game in hand

Keeping on the right side of the law

Developing a certain mindset

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 personal worth?

In this chapter, I explore the qualities of a good bookkeeper: Not just someone who can record transactions accurately, but someone who cares about the financial statements that they generate. I also talk about training as a bookkeeper and what skills you need, about setting up systems, staying on the right side of the law, and about understanding the bookkeeping life cycle from go to whoa.

Understanding the Bookkeeping Life Cycle

Bookkeeping has a certain anachronistic quality to ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required