In this article, we will discuss the three primary bookkeeping methods: single- entry bookkeeping, double-entry bookkeeping, and computerized bookkeeping. SINGLE-ENTRY BOOKKEEPING: Single-entry bookkeeping is the simplest and most straightforward method of bookkeeping.

The cash-based accounting method is the simplest method, and makes it easier to track your cash flow in real time. You record transactions when the money actually enters or leaves your business, even if they were earned or billed earlier.

Yes, a bookkeeping business can be very profitable. In fact, ZipRecruiter reports that the national average income for an independent bookkeeper is $56,100, though some report income as high as $122,000. The cost of doing business is relatively low, mostly related to bookkeeping software, so profit margins are high.