Starting a small business is exciting but comes with many moving parts. One of the most critical steps to get right from the beginning is your bookkeeping system. When your books are clean, organized, and easy to maintain, you’ll save time, reduce stress, and make smarter financial decisions.
TriStar Tax & Business Solutions specializes in helping small business owners build strong financial foundations from the ground up.
What You’ll Learn:
- How to choose the right bookkeeping software for your business
- Tips for organizing receipts and setting up your chart of accounts
- Steps to create consistent bookkeeping habits that grow with your business
Choose the Right Bookkeeping Software
The first step in setting up your bookkeeping system is choosing the software that fits your needs. Most small business owners find that QuickBooks Online offers the right balance of simplicity and features. Built-in automation, bank feed connections, and customized reporting are great solutions for managing things solo or planning to grow your team.
We offer QuickBooks training through our QuickBooks 101 sessions, and we also provide cleanup and support for businesses that need help getting their books in shape.
Look for features like:
- Secure cloud access
- Easy connection to your business bank and credit card accounts
- Real-time financial dashboards and reports
Create an Organized Chart of Accounts
Think of your chart of accounts as the backbone of your bookkeeping system. This is where you categorize your financial activity—from income and expenses to assets and liabilities.
At TriStar, we help clients build customized charts that reflect their business model and industry, making tax season and financial reporting much easier to navigate.
To get started:
- Break down your revenue by source (e.g., product sales, services)
- Organize expenses into logical groups (e.g., marketing, office supplies)
- Separate personal and business finances from the start
Develop a System for Organizing Receipts
You don’t want to be scrambling at tax time. That’s why it’s essential to have a system for organizing receipts and documentation. With platforms like QuickBooks, you can attach receipts directly to transactions, streamlining recordkeeping and audits.
Best practices include:
- Keeping digital and physical receipts organized by month
- Saving mileage and travel records, if applicable
- Separating personal purchases from business expenses
Establish Consistent Financial Habits
Once your system is set up, the real magic is in the maintenance. Setting aside regular time for bookkeeping ensures nothing slips through the cracks and keeps your financial reports accurate.
We recommend starting with weekly check-ins to categorize transactions and monthly reviews for reconciliations and cash flow monitoring. If you don’t have the time or don’t feel confident doing this yourself, TriStar offers ongoing bookkeeping support tailored to small business needs.
Create a process that includes:
- Weekly transaction review
- Monthly bank reconciliations
- Quarterly financial statement checks
- Regular communication with your bookkeeper or accountant
Plan for Growth from the Start
As your business grows, so will your financial complexity. Setting up your bookkeeping system with scalability in mind helps you avoid headaches later. Whether you need to add payroll, track inventory, or manage multiple locations, we’re here to guide you through each step.
Let’s Set Up Your Bookkeeping for Success
Getting your books in order can save you time, stress, and money. With the right tools and expert support, you’ll have the confidence to make informed decisions as your business grows.
TriStar Tax & Business Solutions is locally owned and family-operated, with five locations in Nashville, Hendersonville, Brentwood, Murfreesboro, and Germantown-Memphis. With the experienced accounting professionals at TriStar, you’ll receive true expertise for all your small business needs with personalized attention and affordable rates. All services are by appointment only, so schedule in advance. Walk-in appointments are not available.
Your initial consultation is free–contact TriStar Tax & Business Solutions to get started today!
TriStar Brentwood
9005 Overlook Blvd PMB 6211
Brentwood, TN 37027-5269
Phone: (615) 537-0314
TriStar Hendersonville
131 Maple Row Blvd Ste B200
Hendersonville, TN 3705-3775
Phone: (615) 537-0314
TriStar Nashville
1300 Clinton St Ste 204
Nashville, TN 37203-7008
Phone: (615) 537-0314
TriStar Murfreesboro
640 Broadmor St
Murfreesboro, TN 37129-2747
Phone: (615) 537-0314
TriStar Germantown – We Moved!
1924 Exeter Rd Ste 4
Germantown, TN 38138-2976
Phone: (901) 853-8502
Subscribe to our FREE Newsletter
