The IRS and Record Keeping for Small Businesses and Self-Employed

The following information is a duplicate of the text found at https://www.irs.gov/businesses/small-businesses-self-employed/recordkeeping. It is copyright by the IRS. Why should I keep records? Good records will help you monitor the progress of your business, prepare your financial statements, identify sources of income, keep track of deductible expenses, keep track of… Read more“The IRS and Record Keeping for Small Businesses and Self-Employed”

Basic Guidelines to Bookkeeping for Small Businesses and Nonprofits

In my work as a bookkeeper, I have encountered some basic concepts that many small businesses and nonprofits do not employ in their financial record keeping. Here is a brief list of guidelines to help you keep better records of your finances and make financial reporting and bank reconciliations easier…. Read more“Basic Guidelines to Bookkeeping for Small Businesses and Nonprofits”