💰 Money School
Bookkeeping Basics
Learn bookkeeping basics for your small business: what it is, how to track income and expenses, and how clean books make taxes and decisions far easier.
What you will learn
- 1Beginner: What Bookkeeping IsFree 6 min
- 2Intermediate: Building a System That Runs🔒 9 min
- 3Advanced: Books That Power Decisions🔒 9 min
Beginner: What Bookkeeping Is
Bookkeeping in plain words
Bookkeeping is just the habit of recording the money coming into and going out of your business. Income and expenses, written down and sorted, so you always know your real numbers.
That is it. It is not scary math. It is a running record of what happened with your money.
Separate the money first
The single most important bookkeeping move is a dedicated business bank account. When business and personal money share one account, you cannot tell your real profit and your books turn into a nightmare.
One account for the business, one for personal. This one habit makes everything else easier and helps protect an LLC's legal wall too.
What to actually track
At the basic level, track every dollar of income, every business expense with what it was for, and keep the receipts. Sort expenses into simple categories like supplies, software, and marketing.
That is enough to start. When tax time comes, this record is what makes deductions easy and filing calm instead of frantic.
Do this before lesson 2
- ✓Open a separate business bank account if you do not already have one.
- ✓Run every business dollar, in and out, through that account.
- ✓Start saving receipts and noting what each expense was for.
Create your free account to unlock all lessons
You just finished lesson 1. The other 2 lessons in this course are ready for you. Create a free account to continue, then unlock the full course for $49 (or take the whole Money School for $177).
Full course $49. First lesson stays free, always.