6. What Records Should I Keep?

6.1 Student Records

The well-organized teacher will keep a record for each student.  Records should include personal information about the student (address, contact information, age, favorite songs/music style, allergies, etc.)  that could be obtained in a student questionaire that is handed out at the beginning of the first year.  Music books currently in use, songs memorized, festivals attended, and missed and made-up lessons should also be carefully recorded.

A spiral notebook for notes during the lesson is a good idea.  The notebook could have a section for each student's permanent record or it could serve to keep notes from each lesson that are transcribed to a computer file or other record.  Good records aid in planning and preparation for lessons.

6.2 Financial Records

Financial records are the most important part of any business.  They are neccessary for logging expenses, recording payments, and filing tax returns.  As a self-employed individual, a piano teacher is legally required to report all teaching income and pay self-employment taxes.  Consult your CPA when you begin teaching for advice on income taxes.

QuickBooks, Peachtree, or Excel would be sufficient for bookkeeping.  QuickBooks and Peachtree are business software products that produce statements and make record keeping very simple, once they have been set up correctly.  Excel is a spreadsheet that is available for purchase through Microsoft Office.  As a spreadsheet, Excel may be customized specifically for your studio.  Any of these programs would provide sufficient records and all of them will require some time invested in learning how to operate them.  Check for rebates to make the most economical purchase.