Bookkeeping techniques

1
Bookkeeping techniques

• Some considerations

2
Form of business

• Partnership or proprietorship
• of employees
• Industry standard
• Decide what system your going to use and stick
  with it

3
1st step

• Decide where to put your end of year
• Can be December 31 or may be more convenient to
  move to mid year
• (e.g. DCCC mid year is June 30)

4
2nd step

• Cash method vs. accrual method
• Cash method is when you report income and
  expenses as they occur
• Accrual method is when you report income when you
  do services and expenses when they are billed