Tag: small business bookkeeping

How do I keep accounting books for my small business? How do small business keep accounts? Small business bookkeeping: Small businesses may prepare accounts in order to calculate whether or not they are working profitably for their own information just like self-employed bookkeeper, but pre-eminently they do it to comply with the demands of the relevant tax authorities. Accounts are prepared from what are known as “Books of Prime Entry”, which essentially in the small business context, means a “Cashbook”. Greater complexity results when computerized ledgers are used, but the entry point to them is often a “cashbook”. Simply stated in small business bookkeeping guide that a cashbook records the transactions undertaken by each different manner in which purchases are made. Therefor...