Start-Up Accounting on a Budget

There are ways in which you can minimize your accounting expenses as a small business owner while in college and operating on a low budget. One of the best software programs for small business accounting is QuickBooks. There are many different versions of QuickBooks and you can choose from based on the size of your business and the industry your company competes in. As a college student, you can usually get huge discount on this software if your school makes it available and it can either be purchased through the bookstore or specially ordered.

To make using this software manageable, it would probably be best to supplement the software with a user guidebook to answer any questions you may have along the way. There are also classes that meet both physically and online that can help you get started and gain a good foundation for how to use the software. It may also be a good idea to find another business owner that uses the same software and have them walk you through it and give you an overview. This is something you may have to pay for but in the end it will be much cheaper than hiring someone to handle your accounting when it is not necessary.

One way you can utilize your resources while being on a college campus is by hiring an intern. Accounting is usually one of the most popular programs of study at colleges and universities. This gives you a large pool of potential applicants who may be willing to do all of your accounting for you in order to receive credit and a recommendation upon completion of the internship.  A student who is close to graduation should have a good understanding of all the major accounting software so bringing them on board could save you time and money while receiving quality work at the same time.

Accounting is one of the most important aspects of your business and you need to have a good foundation with regard to your numbers. It can be extremely difficult to go back and find mistakes and if you can find them, correcting them is no small task. However, at the same time, not every start-up can afford an accountant to ensure a low risk of mistakes. These suggestions can help you along your journey until you get to the point where you can afford to hire a professional accountant or firm to handle that area of your company.