Hi, it is me again. Today, i decide to share with you all on how to do book keeping.This to ensure that you can manage your money better,have proper documentation for tax purposes,be able to budget for the next month, also lastly you can see how much you really earn,where you money goes to and be able to save more money.
To make it easy... You must have:
1)File - this is for you to store all your receipts, bills, statement. Separate your file into 2 which is earning/deposit/inflow and withdrawal/expenses/outflow. Sort your documents according to date.
2)A log book/cash book - Start recording your salary and expenses. It is advisable to start when you get the salary in the near future. This is because if you start on middle of simply when you want you will find that it is quite difficult to sort out. Write all your income in left side (debit) and your expenses (credit). Keep yourself discipline by writing and recording in this book. When it is end of the month. You take the income and subtract the expenses. The remaining is the leftover of your money. Make sure you separate between cash and bank account.
3) A computer software - if you think that it is much easier for you to use the computer then i would suggest you you a simple software by name Easy Cash Manager that can be downloaded from www.download.com in the Personal Finance section. I used to use this simple software. There is also a lot of other software to help you.
Hopefully you will try these 3 easy steps and have better management of your cash.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment