HOW TO SET UP A TAX - SAVING BOOKKEEPING SYSTEM

  One of the most important, but least understood or profitable
 aspects of any business is its bookkeeping or accounting system.
 And, because very few people know much about the reasons for a
 bookkeeping system, most people are frightened by the judging of
 the work involved in setting up such a system, and the donkeywork
 of daily prolongation.

 There ' s really nothing complicated to bookkeeping it ' s as simple
 as keeping a daily dairy and ' or maintaining your personal
 checkbook. At the bottom line, it ' s simply a matter of record
 your deposits - your penetrating monies - and keeping a record of the
 money you spend.

 So, the first being you need to do is open a business account for
 your extra income business or endeavors. Often, this is
 simply a matter of asking the new accounts teller at a local bank
 for a business account registration remuneration, send it in to the
 appropriate commissioner, and from there, open you a new business
 account - complete with imprinted checks.

 Drop by a local stationery store and pick up a loose needle
 register, and a supply of paper. We ' ve always picked up a supply
 of brochure tabs at the same time - - either to separate the months or
 the clog sections for each item we sell.

 Assuming that you want to make it as simple as possible, while at
 the same time keeping it as efficient as is necessary - here ' s what
 you do and how to do it.

 On the first page in your notepad, write on the top line and in
 the middle of the page: Monday, January 1st, 1983
 or whatever day you officially start your business... Then, as
 your orders come in, if by mail, as you open your mail - jot down
 starting from the deserted side of the page, the amount you
 obvious - dash - for what - from whom, and their address. The page
 might look like this:

 Monday - - - January 1 1983

 $
 14 Tapes
 100 S. W Price - Barton
 10 Hong Kong Dir #261
 10 " " #261
 3 Whsle Prt Dir #49
 70 Hot Line Lst - - Morgan

 TOTAL INCOME $207 EXPENSES 0

 That ' s all there is to it, and boiling it all down, it amounts
 to recording what you receive and what you spend.
 The next entry, just now under that first day ' s entry might
 look like this:

 $207 Deposit
 11 Printer - for copies
 10 Sec & riches thru R Est #302 - Rogers ( 75010 )
 3 Simplified annual M. O bkkp Sys ( 21104 )
 10 Money Magnetism - Kline ( 88033 )
 36 R. W Fee - Magnuson ( 10067
 6 Manual on Bookselling - #291 - Magnuson ( 10067
 15 display Ad - Smith 948089 )
 22 Ideal Ofc Supplies - printer paper

 TOTAL INCOME $80 Expense $33 Deposit $207

 And then, carry on with this recording of the money you deposit,
 receive and spend each day with similar entries for each day of
 the week - every day Monday Thru Saturday for each week. It ' s
 simple uncomplicated, and a positive record of your business
 activity.

 Then at the end of each month, transfer this daily information to
 one of the low cost bookkeeping registers that your tax
 consultant or accountant can work from. These people won ' t work
 from your daily dairy, ad will not transfer the information you
 record in it to a formal bookkeeping register without charging
 you a small fortune. it ' s not that big of a job, ad if you do it
 after te close of the business on the last day of the month, it
 will take at the most a very few minutes. Then, of course, when
 you ' re ready to do your taxes, you simply give your bookkeeping
 register to whoever is going to do your taxes, and you ' re home
 free.

 The bookkeeping register you ' ll need can be any simple columnar
 notebook - we use an " Ekonomik Register, Form RL - 17 "
 available in a number of different styles and sizes from Ekonomik
 Systems - PO Box 11413 - Tacoma, WA 98411. All you really need is some
 sort of notebook with a number of columns marked off, a title
 written at the top of each column, and a record of te money
 received for each day relative to the product or service each
 column represents. Then at the end of each month, you can simply
 add the totals from each column and you ' ll instantly know how
 much money you took in from each of your offers.

 Beyond te date column, will be your record of expenses or money
 spent. Again, you should title each of the columns you ' ll be
 entering figures into, and then record your expenditures for
 items falling into those categories. Then at the end of each
 month, it ' s a simple matter to add the total from each column and
 know exactly where you stand relative to profit or loss - how much
 you took in compared to how much you spent.

 Bookkeeping and / or accounting is a very simple and should not
 scare you. Just keep it simple, ad up - to - date.