Starting a locksmith business is rewarding and for many the idea on how to "setup" the financial reporting seems to be one of the biggest concerns. There are commercially branded products like Quickbooks, Freshbooks, PeachTree and many others that pretty much offer the same things and come with a price that many starting out don't need to purchase. Small business owners, micro startup companies and soloprenuers don't need to dive in head first with over bloated software or even subscription based accounting programs when low cost or no cost alternatives are available.
DOME Books provides a Monthly Bookkeeping Record which cost about $15 and can be purchased online or at most office supply stores like Staples. It provides a perfect record keeping system that provides monthly income and expense reporting anyone can follow.
Another winning no cost resource is the Accountinator which was created using Google Docs. It is completely FREE and ideal for those who prefer a computer based recording system. Use the link provided to obtain a copy of the Accountinator and simply cut and paste it into your Google Docs.
Wave is one of the most interesting no cost cloud based resources the locksmith can find. Using a simple registration process, the users can accomplish basic Invoicing, Accounting, Payroll, Payments and even Internet invoice payment processing. The only time a fee is applied is when a invoice is processed through an online credit card payment. the rate is 2.9% + .30 per transaction. Unlimited invoicing and recorded keeping that uses a clean and easy to navigate interface.
Wave also provides integration of your bank and credit card transaction history and Paypal activity so all your financials are posted in one place without you having to worry about it. While you are running around building your new business, WAVE is pulling it all together for you! you can even provide collaborators or your accountant access to review, input and obtain the reports needed. Imagine having a virtual terminal where a remote employee can take care of your bookkeeping. WAVE's secure integration system is a "read only" and your bank accounts and Paypal cannot be accessed, so your safe!
All of the options mentioned are good for new and existing businesses. Locksmiths have nothing to fear and everything to gain by using any of them. They are FREE they are easy and they work!
Tom Lynch, CRL