4th edition of this bestselling guide to small business bookkeeping, fully updated for the latest accounting practices and bookkeeping software Britain's number-one guide to mastering the art and science of bookkeeping Accurate bookkeeping is crucial to the success of every business but few people relish in this highly detailed task. Introduction 1 Part I: Basic Bookkeeping: Why You Need It 5 Chapter 1: So You Want to Do the Books 7 Chapter 2: Getting Down to Bookkeeping Basics 19 Chapter 3: Outlining Your Financial Roadmap with a Chart of Accounts 39 Chapter 4: Looking at Ledgers 57 Chapter 5: Discovering Different Business Types 83 Part II: Recording Day to Day Business Operations 93 Chapter 6: Planning and Controlling Your Workload 95 Chapter 7: Counting Your Sales 107 Chapter 8: Buying and Tracking Your Purchases 135 Chapter 9: Doing Your Banking 149 Part III: Preparing the Books for Year (or Month ) End 163 Chapter 10: Adjusting Your Books 165 Chapter 11: Depreciating Your Assets 183 Chapter 12: Adding the Cost of Value Added Tax (VAT) 197 Part IV: Reporting Results and Starting Over 211 Chapter 13: Producing a Profit and Loss Statement 213 Chapter 14: Developing a Balance Sheet 231 Chapter 15: Reporting for Not For Profit Organisations 249 Chapter 16: Preparing Your Year End Accounts 265 Part V: Payroll Preparation and Online Accounts Tools 271 Chapter 17: Employee Payroll and Benefits 273 Chapter 18: Cloud Accounting: The Modern Approach to Bookkeeping 293 Part VI: The Part of Tens 305 Chapter 19: Top Ten Ways to Manage Your Business Cash with Your Books 307 Chapter 20: Top Ten Most Important Accounts for Any Bookkeeper 311 Appendix: Glossary 315 Index 321