how to bookkeeping?

Don't flame me if this is a silly question :-)

How do you guys do bookkeeping? using softwares like simply accounting / quickbooks, or just keep all receipts/bank stantments plus using excel to tracking expense?

Thanks

I recommend using Quickbooks. If you don't have any book keeping background then I suggest for you to take classes to get you started.

thanks! do you know is there any free classes I can take?

Originally Posted by raptorsfever

I recommend using Quickbooks. If you don't have any book keeping background then I suggest for you to take classes to get you started.

I use excel.

I have a separate worksheet set up for all categories on the T2124 and as I incur an expense I list it and throw the receipt into a shoe box (never to be seen again).

At the end of the year I have a full listing of all my expenses and simply enter the info onto the tax form.

For low volume, you can get away with Excel, I do this for really small companies. From what Brisk has told me, I think he will need Quickbooks or Simply Accounting.

Most colleges offer reasonably priced courses on basic bookkeeping, and there are also loads of books at the library and bookstores on it. Just make sure you get Canadian based ones.

Quickbook is the way to go.

Simply Accounting - #1 selling packaging in Canada - means a lot more support available if you run into problems.

id second simply accounting if you were to use software.... but if at all possible (ie your biz is small enough) just get someone to show you how to set up a manual synoptic or something in excel and do it that way