The bookkeeping and accounting records play a vital role in helping you evaluate your small business’s financial health and performance and prepare for your taxes and other government compliance obligations.
Accrual accounting and cash-basis accounting are the two most commonly used accounting methods by businesses. These accounting methods comprise certain rules and procedures that companies follow when reporting their finances.
Bookkeeping is the systematic recording and organizing of financial transactions and information pertaining to a business on a day-to-day basis. Accuracy is a vital part of the process as it