Keeping up with your expenses and income as a small business owner is critical to determining if your are profitable and accurately complete your taxes. For most sole proprietors starting out, accountants may not be an affordable option to start.
Here are some accounting tips to follow until your business grows the income needed to hire an accountant:
There are several free accounting packages available that can help you track your financial transactions. Wave Accounting is one of our favorites as it is simple, comes preset with transaction categories, and generates excellent reports to help you complete your taxes. You can also receive credit card payments from customers and link your business bank account for complete tracking.
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