Q & A: I’m a Sole-Trader, how can I do my Accounts DIY ( Do-It-Yourself)?

This is easily answered, you have to answer one question: Do I know how to do bookkeeping, Yes or NO?

If YES – you can go and get an off-line (Intuit, Sage) or online accounting system and get started. WinWeb’s OnlineOffice includes a free forever – no strings attached – full accounting system, including free 24/7 live support.

If NO – you need to find a system that allows you to record all your transactions, without having to do the “Double-Entries”, you can leave that to an bookkeeper or an accountant, in other words outsource the tricky bit. The good thing here is that you will save most of the money you would have to pay someone else to do your accounts, because you do the labour intensive stuff yourself. WinWeb also covers this version of bookkeeping.

A good side effect here is that you will have to look at your expenses and cost again, and may be able to make a judgement if that was good or bad money spent – you know what I mean – the hindsight thing.

One thing is for sure getting involved in your bookkeeping/accounting, however little, will have a very positive effect on your business, no matter which kind of small business or start-up business, like SOHO-, SME, SMB-, Micro-, Lifestyle-, Home-, DIY-, Hobby-, Boomer- or Personal business, like professional, contractors, freelancer, self-employed, sole-trader and virtual assistants, you run – I’m all for DIY.

Remember, if you have any specific questions on our bookkeeping/accounting software you can always use our 24/7 support. ST.

Disclaimer: As with any of my readers questions, I do not have all the answers and here on my blog I can only give you some ideas, since I know very little about your small business. If any of you can add anything here do so for the benefit of my reader, who asked the question and everybody else, leave a comment below – I’d be most grateful.

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