BookKeeping For Musicians Pt. 1 – 2/7/2014

For as long as I can remember, I have never been a numbers person.

I took an accounting class when I was 19. Got a 37%. And that was me trying !

That’s gonna change. You all gonna respect me for ability to do basic book keeping !

I am gonna record my kaizen-like journey into book keeping and how I am gonna use it for music.

Like for example tomorrow, Im going to play a show in Bloomington, IN.

and I have absolutely no idea how to record it. But I will soon.

Here’s 4 Reasons to Keep Records from Canada Business.

Why Keep Records?

  • Good records will keep you informed about the past and present financial position of your business.
  • Good records will keep you in control and give you the information needed to make good business decisions.
  • Good records will satisfy Canada Revenue Agency, Canada Pension Plan, Employment Insurance, Department of Finance, Goods and Service Tax, Workers’ Compensation, etc. and facilitate correct and timely remittances.
  • Good record keeping increases a new business’ chances of survival and an established business’ chances of staying in business and earning good profits.

I’ll keep it real. I don’t understand the double entry system. But just because Im struggling now doesn’t mean I can’t do it.

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