Join Tom Geller for an in-depth discussion in this video Keeping the books, part of Freelancing Fundamentals.
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Accounting is a huge field in itself.…Some people study it their whole lives.…In this video, we'll only scratch the surface both in terms of its concepts and…the tools available, but let's start with some basics.…First, accounting is just numbers.…Although money has a big effect on how you live, you can use math to stay in control of it.…That ties in with the second point. You can't beat math.…If you have a $1000 and you need to pay $1500, you'll have to find that other…$500 somewhere or make some other arrangement.…
Let's move on to the tools you'll use to do that math.…First, I assume that you already have a bank account as I discussed earlier.…You'll probably have other accounts such as credit cards, a savings account…and perhaps a loan.…Because a lot of these account records will be on paper, you should have a…paper filing system.…But the paper is mostly just for your archives.…In day-to-day use you're going to use accounting software.…All the systems I'll mention here can handle multiple accounts just fine.…
A bonus chapter covers common questions freelancers have when entering the field.
- What is freelancing?
- Defining your career goals
- Funding your startup
- Getting licenses, permits, and insurance
- Setting prices
- Finding work through agencies
- Getting referrals
- Working with time and project management tools
- Increasing your rates