Bookkeeping Do’s and Don’t’s for Small Businesses
As a small business owner, it is important to keep accurate and organized financial records to ensure the success and growth of your business. Here are some do's and don't's for small business bookkeeping: Do's: Keep accurate and detailed records of all financial transactions. Use a reliable bookkeeping system, such as QuickBooks or Xero. Reconcile your bank and credit card statements regularly. Keep receipts and documentation for all business expenses. Don'ts: Don't mix personal and business expenses. Don't wait until the last minute to do your bookkeeping. Don't neglect to track income and expenses. Don't be afraid to seek help from a bookkeeper or CPA if needed. By following these bookkeeping do's and don'ts, you can ensure that your financial records are accurate and up-to-date, which will make tax time a breeze and help you make informed business decisions.