Wednesday, August 3, 2011

DIY Bookkeeping

Dun & Bradstreet statistics say that nine out of ten business failures in the United States are caused by a lack of general business management skills and planning.

Keeping track of a business’s financial health is a huge step toward having a successful business.

So begins the pitch for Lily E. Chambers new book, "How To Do Your Own Small Business Bookkeeping."

Lily is absolutely right. I wrote about the need for small business financial literacy recently in my Bloomberg BusinessWeek column.

But what if you can't afford to outsource your financials or hire an in-house financial person? That's where Lily's book comes in, teaching you how you can do your own bookkeeping in QuickBooks. It is available at or on Lily's website, Virtual Office Goddess.

Check it out, and let me know what you think!


  1. I'm sure Lily is awesome, and I wouldn't hesitate to HIRE her - but I can't recommend her book.

    It's geared to two versions of QuickBooks - Simple Start 2010 (and I wouldn't recommend that version to anyone), and QB 2008, which is neither currently available nor supported by Intuit any more. If one was to buy, off the shelf now, QuickBooks Pro 2011, there have been vast changes in the program, screens, etc.

    I am 100% there on people needing to get advice and training from a professional as they decide to do their own books. Most of the costs come in when they plop this mess that they THINK they have done properly, over to their accountant, and major bills are incurred as the accountant has to straighten it all out. (I know because I'm the staff person who gets that fun job.) It would be much, much cleaner (and cheaper) to work with someone for the initial setup and a few hours of basic training, either in person or via a 'puter sharing program like GotToMyPC or LogMeIn.

  2. Thanks for the feedback, Beverly, very expert and very much appreciated!

  3. As the author, I also appreciate your input! The reason I provided the QuickBooks Simple Start version is because the software is free and for many new entrepreneurs, free is best. It is also a lot less complicated than QuickBooks Pro.

    The 2008 version came from requests for that particular version from several folks who had bought used copies of 2008. I will be releasing the QuicBooks Pro 2011 version shortly. :)

  4. Thanks for the reply Lily. Good luck with the new version of your book.

  5. Great post, many of the people at Bookkeeper Melbourne have recommended your book.