How do you bookkeep?

[daycaremom9]

My Hubby has a business (Sole propriortship) Not the same as running a home daycare, but we have an excel spreadsheet that we use to track everything and a plastic bin with folders for each month of the year. at the front of the BIN is a "TO DO" folder, this is where he puts any receipts he has for the business.
At the end of the month, I pull a statement from our online banking account (a separate account for the business) and check back each receipt/bill payment/transfer etc. and log it on the excel spreadsheet
At the top of that spreadsheet is the starting balance
He also has a spreadsheet that he maintaines for invoices paid and when deposited
We have a final spreadsheet that has the following lines:
1 - Starting balance (this is a formula the pulls the starting balance from the statement spreadsheet)
2 - Expenses (this is a formula that pulls the total expenses from the statement spreadsheet)
3 - Deposits (This is a formula that pulls to total invoices paid from the invoices/deposits spreadsheet)
4 - Final balance (I check this back to the final balance on the statement)

The final balance gets manually moved by me to the next month spreadsheet for the "starting balance"
We balance it every month, and have never had a problem.
It takes up about an hour a month to do that.

Also, I staple all of the months receipts and bills to the statement for the accountant/audit purposes

Visa bills get paid and all receipts for the bill period are stapled to the visa bill which is then stapled to the statement

This system seems to work wonders for us... basically all our accountant has to do it file it...

Not really relevant ot daycare, but since my husbands business dosent always pay on time, he has a separate sheet for unpaid invoices so he dosent loose track of an unpaid invoice.

Oh my gosh , sorry but I'm computer illiterate, my hubby is the computer genius. I think he really gets frustrated asking him the same questions regarding the computer. This just sounds so complicated.

[Woodsy]

My hubby would be considered the "computer illiterate" one in our family, that is why I manage the excel spreadsheet (I should be fair and state that he is really on "excel" illiterate though)
Once you have the spreadsheet set up, it is extremely simple!