Keeping the books

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.…