Resources: Quick guide to ... keeping accounts

1. Financial record-keeping isn't as scary as many believe. You need good systems, a clear head, and a commitment to keep on top of the paperwork.

Do things regularly until they become second nature. If you are not arithmetically gifted, don't despair.

Just take your time, use a calculator and feel relaxed about asking someone else to check a row of figures.

2. Money people refer constantly to mysterious "books". All they amount to is the entries in the main accounts book or cash-book, supplemented by the bank statements, receipts for spending and evidence of any money received. Each transaction is recorded in the cash-book. If things are simple, you should just need the date, the amount, a brief note of the reason for the income or expenditure, and a reference number, such as a cheque number. Each month make sure that the transactions tally with the bank statement.