How keeping records of your business

When starting a small commercial project, or assemble a business or small business, you must learn to keep accounts. This will not only allow us to have more and better control of almost all accounting aspects but also helps save and prevent events before the IRS tax inspections.

Although the laws of each country vary, virtually all they share the tax determinations. Therefore it is necessary bookkeeping of a business, it allows us to trace and verify all purchases and sales, in an orderly and legal manner, and also project future business growth and its categorization from the income and investments.

This is of vital importance, since in most countries shops are located in certain categories from your category and income level. This determines the relevant taxes and exemptions and tax benefits.

Each company or business determines its own accounting system from its availability or practicality. While the ideal is to let the accounting remain in charge of a professional subject, we can take ourselves.

Some people prefer to do it on paper, notebooks and folders, and those who choose to use a computer system with specially designed software (custom or standard). In the first case it is convenient to carry separate notebooks for different areas or categorize folders contained in color, well marked. A computer system simplifies this whole process, you can find one to suit you very easily on the Internet, both pay and free.

Once discharged the business, with all its billing list, you can keep accounts very easily. First you need to have control of all sales of the day to meet the daily income. Then keep track of all expenses, including purchases from suppliers, income, consumption and other services, that will go on the part of expenses. At the end of each day you can take stock, or each week. Thus, the last business day of the month you can make the overall balance between income and expenses, keeping track of invoices or tickets issued, so you can easily compare them if necessary.

Other details that can take accounting of your business is product inventory and supplies. To do this, you can follow the pattern of inflows and outflows of money: you write down the amount entered (purchased) for each product and in the joint column write down the amount of that product is being sold (also the defective). So, at first glance you can know how many units are in each thing. Again: a computer system would facilitate all this, and you can use it for little money, even free in some versions, always respecting copyright.

Another report is to analyze the control we are using services such as water bills, light, phone, among others. If there are personnel in charge, even a small business, we must not forget to have the forms in order for the payments, as accident insurance.

Finally, within the accounting business, you have to always have money for the “petty cash” if we have to buy some emergency or high priority, besides making check payments to suppliers not handle a lot of cash on the premises.