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6 of 7 people found the following review helpful:
4.0 out of 5 stars
Straightforward, useful, 20 Jan 2003
Having been in business for 18-months, the book-keeping has up to now been a fraught and confusing activityThis book leads you through the process of creating and checking simple books for a "cash" company with a few different product lines and without complex credit, invoice or discounting arrangements. The exercises are well presented and explain the principles. As your needs and company grow you can migrate to a custom-built package - but the principles established should ensure any new system is implemented effectively. The section on filing records is most welcome. The only area that I feel needs to be laboured a bit more is the mysterious concepts to a new-comer of Cash to Bank
Bank Payments
and Bank Deposits Contained in the description of company expenditure I'm working my way through those particular items and keep on changing my mind about how to "account" for them. I would recommend working through the exercises by building you own spreadsheets - this will show how the figures and calculations "hang-together" This (or a similar book) should be required reading (and work) for any new small-business person. Perhaps ask your accountant to buy it for you as a gift (is that tex deductable? :-) ) I feel a good follow-up would be exercises on how to use the books you have laboured to create not just as an obligation to satisfy your accountant and the tax man, but how they can be used as a business tool to measure things like exposure to bad payment and cash-flow which is the life-blood of small businesses, who are the unpaid bankers of the British economy ;-) Clive, London, UK
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