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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…