Bookkeeping Systems

[Note: Were you looking for help with bookkeeping? Sometimes bookkeeping is misspelled book keeping or bookeeping.]

1. Audit trail: This is a record of all checks and invoices, including voided checks.
2. Due dates: Keep a check-off list of all required tax reports, including due date, type of tax, report number, government agency, time period covered and money submission.
3. Quality records: Bookkeeping is a staple that keeps your business functioning. Healthy records equal a healthy business. Monitor your records on a regular basis to insure that our business is error free.
4. Bank deposit books: Record your bank deposits daily, and check your statements before you file them away. As soon as your statement arrives, balance your account. That way you can quickly catch unauthorized checks.
5. Petty cash: Most small businesses need petty cash boxes. Keep $100 in cash and coin in a locked box. Whenever a purchase is made, keep the receipt for that purchase also in the box - so that the value of the box, whether it is in currency or receipts, always equals $100.
6. Secure record storage: Keep all important paper records in a clearly-marked, fire-proof box in an accessible and secure location. Backup computer files on a daily basis.
7. Maintain daily records: Different companies use different record-keeping systems. What matters most is that you have a system and you use it daily.
8. Consider using a bookkeeping software package. A package, like Quickbooks, can be well worth the nominal investment compared to its functionality.

Bookkeeping (again, sometimes misspelled book keeping or bookeeping), whether you do it yourself or have some professional help, doesn't have to be complicated. A well-organized system will prevent errors and promote a pleasant working experience.

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