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Step 1 Bookkeeping

SKU: SF093va

Adobe_PDF

The Step 1: Bookkeeping manual will assist you with a filing system for the paper information for a double ledger entry system. This manual also comes with a template of labels for the file folders you use to set up your filing system.

3
The following pages have been developed through:
1. the use of several Government tax information guides.
2. the experiences & questions of several small businesses.
3. the resident accountants’ and bookkeepers’ years of education and experience.

Every business requires an evaluation of all earnings and expenses to determine the value of being in business. 

What ever business entity you set up - we believe a business should consider bookkeeping and tax reporting the first responsibility in the administration process.
 
An incorporated business must maintain a system to identify a difference between the shareholder and the business.  The shareholder does not own the business.  The shareholder owns shares in the corporation.  We suggest maintaining a ledger system that is tied to the corporate bank account.  The various reports required within the business may require several sub journals.   
 
A partnership business may require separate financial information in reference to each partners’ relationship.  We suggest a ledger system be maintained and consideration to a combined report of the partners be utilized.
 
If you are a proprietorship business, you may set up a fairly easy system that is tied directly to your receipts.  A full ledger system for a small business, maintaining records for tax purposes only, may be a bit excessive.  If you expect you will require various reports within the business, then you may require several sub journals and a
full ledger system would be recommended.


 

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