Bookkeeping is the process of keeping track of all your business transactions. If you keep on top of it, and keep it current you’ll always have invaluable information about your business. I know it sounds boring, and it’s going to feel like the last thing in the world you want to be bothered with. But if you keep it updated you’ll always know how much the business is making and if your spending to much money on expenses. It will also help you pay your taxes accurately and on time. Before we start talking about different ways to accomplish all this, you should understand some basic terms.

INCOME – We can break this down into 2 types: Sales is the money generated from the sale of goods or services. Other Income is any other money received into the business. If you wanted to break this down even further, you could have accounts to keep track of...Click here to read the rest of this post from Business Darlings.

Business Darlings is authored by various VAF members.


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