Proper bookkeeping is one of the most critical tasks for a small business. Good records are necessary for the preparation of tax returns, Internal Revenue Service (IRS) audits, insurance audits, and bank financing. Therefore, it is important to get started with a good accounting system, and maintain your backup records in a logical manner. Some new business owners think they must hire a costly CPA or a full-time bookkeeper, but this is simply not the case. In fact, anyone can keep proper records by keeping in mind a few simple principles:
Small Business Bookkeeping Basics | Paychex
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