So you don't think you're any good with numbers and all those accounting terms scare and confuse you. You save all your receipts all year long in a shoe box and give them to your tax accountant in March so he or she can prepare your taxes.

Your accountant is deluged with many other small business owners or solopreneurs and their shoe boxes filled with receipts just weeks before taxes are due to be filed. Your accountant asks if you could just prepare a spreadsheet showing your income and expenses, it would be so helpful. It would also save you money because your accountant will have to charge to do this for you. But you just don't know where to start.

Though accounting can seem overwhelming, knowing some basics is essential for the small business owner. I recommend AccountingCoach.com as a place to start to learn some basic accounting terms and practices.

Then I recommend you hire someone to do some simple bookkeeping for you. Bookkeeping services can usually do your bookkeeping much cheaper and more quickly than you. Hourly bookkeeping rates generally range starting around $25 per hour. Your total monthly bookkeeping charge depends on the type of services you request and the financial records you provide. A copy of a neat and orderly check register will require less work (versus the shoe box of receipts) and lower your costs significantly. You should be able to get accurate and timely financial information from a bookkeeping service for less than $200 a month. Visit my website and find out how I can help you with your bookkeeping.