Accounting & Bookkeeping & Small Business Forum

Guest · Posted: Mon Oct 25, 2004 9:09 am Post subject: 1st client-where do I start?

Hi,

I am new at the freelance bookkeeping profession and because of which I am slightly confused about where to start with my first client. I hope a very seasoned professional bookkeeper would be so king to help me get started on the right track. My client has been in business for two years now. He is a Landscaper and his wife does the bookkeeping. It sounds relatively simple enough to do from an accounting perspective however... "I HONESTLY DON'T KNOW WHERE TO START" She has tons of receipts, the previous year tax return and bank statements. They purchased a vehicle for the business last year and depreciated in on their tax return. They have already purchased the accounting software "Quickbooks Simple Start". Question: What should I do first? Do I post Journal Entries? or just enter the transactions from the bank report? Isn't there more I should do? I was wondering if I Should post journal entries for the Beg Balances and then enter the transactions from the October bank statement going forward? I guess my question is: Is their a specific process or protocol that should be followed for "new client set-ups"?

Please help meeeeeee...thanks!

Guest · Posted: Tue Oct 26, 2004 10:22 am Post subject: RE: 1st client-where do I start?

If you're a student of the Universal course, you have two excellent resources. Chapter three of the Advancing Your Accountability module includes training in this situation. Additionally, you can call your Coach at the 800 number you received with your coursework. He will work with you individually.

Good luck.

Guest · Posted: Fri Oct 29, 2004 11:00 am Post subject: RE: 1st client-where do I start?

Hello Nikki,

The first thing to do is not panic! Bookkeeping can seem overwhelming but if you break it down into pieces, it is easier to put the puzzle together.

Start with their tax return. Journal entry in the balances for their balance sheet first.

Once you have your beginning numbers, then you want to enter in all outstanding bills and customer invoices. Then you can start entering in current bills and go from there.

Post back if you have more questions.

April

Guest · Posted: Fri Oct 29, 2004 11:02 am Post subject: RE: 1st client-where do I start?

Bryan,

Thanks for your comments. I posted an answer because I didn't see any responses to Nikki's question. I know what it feels like to have tons of questions.

Nikki, Bryan is right. Call your Coach and let them help you.

April