Bookkeeping:
Basics for Small Business
Business Bookkeeping serves two purposes - to enable the IRS to evaluate your operations, and to help manage your business. Your books make up one very important part of your overall business records and should include all transactions made by your business. As a standard practice, several pieces of information should always be kept in your books.
Revenues and Expenses
Cash Expenditures
Inventory
Accounts Receivable and Payable
Employees