Your home-based computer repair business is cutting edge and modern, simply by virtue
of the fact that you'll be working on computers or electronics of some type, depending on
your niche. Being surrounded by all of your customer devices, you'll be immersed in a
world of keyboards, power supplies, motherboards, and memory. In fact, you'll run your
entire business off a computer, for example the desktop or laptop that will be a part of the
business's capital assets.
On that computer, you'll be running software that will help you organize and maintain all
of the records that you'll need to keep your business on track. To keep that data organized
or even create that data, you're going to need a software bundle that you'll use on a daily
basis. Now, there is a lot of “pirated” software out there, and just because your friend has
a copy that you can “borrow” doesn't mean that you should take it. Since your business
is legal and trustworthy, you're going to want to own the licenses for your software pur-
chases, which come with the software, when you purchase it new. Keep your business out
of trouble and do yourself a favor . . . buy new software when you need it.
First, let's consider the backbone of the business—the business checking account. It needs
to be kept current, balanced, and have you in the know at all times. Yes, you can simply
look at your checking account balance on a daily basis to see how much money is there,
and you should do so. However, that's not how account records or topics are kept and you'll
never have an accurate snapshot of your cash position simply by looking at your checking
There are some fantastic account software packages out there to help keep you straight.
Sage 50 Complete Accounting, QuickBooks Pro, Bookkeeper, AccountEdge, CYMA, and
others are readily available on the Internet for purchase or in your local big-box electronics
store. Consult your accounting representative or CPA if you're looking for any advice on
which accounting software package to purchase, because if you and your CPA have com-
patible software, it will make tax time a whole lot easier in the future. I personally use
QuickBooks Pro on my Mac for account purposes.
Your accounting software is where you can view your profits (or losses), your cash po-
sition, your outstanding checks, and everything else financial about your business. Keep
in mind that some accounting software programs (like QuickBooks Pro) allow you to run
payroll functions, and if you're planning on hiring employees in the future, it's a good time
to buy the right account software up front to help you do so.