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Basic Bookkeeping Systems For Your Home-Based Business
Business Bookkeeping for Your Home-Based Business (Part 2) As we work our way through the holidays, it’s a good idea to set up your bookkeeping for the coming year. This way, when you start your business activity for the new year you will be all set to keep track of everything. A basic bookkeeping system for a home based business can be as simple as a notebook or as complex as accounting software. It’s best to keep it simple, at least at first. Get a notebook. You can get a spiral bound book so that you don’t lose pages. I would recommend a book with two sections…
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Business Bookkeeping for Your Home-Based Business (Part 1)
Business Bookkeeping for Your Home-Based Business (Part 1) Now that you have decided to start your own home-based business (I think you were crocheting blankets in our last example) you need to set up a few basic procedures to ensure that your recordkeeping is complete and accurate. You do not need an accounting degree to accomplish this. Keep Seperate Bank Accounts: My first piece of advice is to get a separate bank account for all business activity. This is vital. This is important even if your business is set up as a sole proprietorship; essentially YOU are the business. Many home-based business owners believe that since the money to…
