Recordkeeping for a Small Business   

Good recordkeeping is one of the foundations of a successful small business. This course provides a practical introduction to the bookkeeping and financial recordkeeping practices business owners need to understand their finances, track business activity, and make informed decisions. 

Students will explore basic accounting concepts, recordkeeping systems, financial statements, income tax requirements, and financial risk management. Through practical application, participants will learn how financial information can help them understand the health of a business and plan for its future. 

This course is for: 

• Aspiring entrepreneurs preparing to start a business 

• Current small business owners and operators 

• Individuals responsible for bookkeeping or financial records for a small business 

• Entrepreneurs who want to better understand their business finances 

• Professionals supporting small business operations 

• Anyone looking to develop foundational small-business bookkeeping skills 

What You'll Learn: 

• Understand fundamental accounting and bookkeeping concepts and terminology 

• Distinguish between revenue, expenses, deductible expenses, and depreciable expenses 

• Understand the differences between cash and accrual accounting 

• Explore basic recordkeeping procedures and electronic recordkeeping options 

• Understand charts of accounts, debit and credit basics, petty cash, and trial balances 

• Create and interpret basic financial statements, including cash flow statements, balance sheets, and income statements 

• Explore break-even analysis, projections, and other financial information used in business planning 

• Identify basic federal income tax requirements, relevant forms, schedules, and filing deadlines 

• Recognize financial risks associated with operating a small business and explore appropriate risk management strategies 

Course Format: 

• 15 hours of instruction, held across two Saturdays 

• Practical, small-business-focused learning 

• Hands-on application of bookkeeping and financial concepts 

• Focus on financial information that supports everyday business decision-making