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To run a bookkeeping business, you will want yourĬlients to trust you and your abilities to look after their financial Take more bookkeeping and accounting courses, perhaps at your local college, because I’ve done aīookkeeping short course which was just an overview of bookkeeping and how someĪnswer: If you have enough determination, then anything is possible!Īs long as you are always willing to keep learning. Will it be possible to do so with only accounting from high school. Q 1: I want to start my own bookkeeping business with Bookkeeping Questions for Starting a Small Business Q3: Can a non-working, shareholder wife of a trucker claim travel expenses whilst on the road with him?Īnswer: Go here to see answers regarding profit and loss questions. (Answer also applies to property tenants). Q2: How do I record deposits received from and paid back to customers who rent items. Q1: How do I record a loan received for business operating expenses. #BOOKKEEPING TEST QUESTIONS AND ANSWERS PDF PDF#Q 1: Do you know any site I could download (to print off for temporary manual use) a single entry bookkeeping spreadsheet? Answer : Yes, here's a pdf version, and here's an excel version Profit and Loss Questions ![]() How do I book these transactions?Īnswer: Go here for answers and more information on the different ways to handle insurance. ![]() The owner received a check from the insurance company. Q2: I am doing the books for a small property management co. What GL account should this reimbursement go into so that it is not considered income? The business paid to have the damage repaired and later the employee reimbursed the business with a check from her insurance company. Q1: An employee of our small business damaged our property with her car. #BOOKKEEPING TEST QUESTIONS AND ANSWERS PDF HOW TO#Q1 : How should an equipment lease payout be shown in the booksĪnswer : Go to buy vs lease equipment to find out what's best for a business, and how to treat these in the accounts. We put some of the money in cash in a safe deposit box and some was deposited into our business checking account. Q2: We received a large commission off a real estate sale. I am paid the full amount for the painting then I take my commission and pay the remainder to the artist. How do I enter this and which amount will go against turnover? ![]() Q1: I have a Gallery and am starting selling art work for other artists. ![]()
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