Single-proprietor ownership, multiple lines of business (rental, sales, small construction). Aim is for better operations management and to make proper charges to customers for services rendered.
They should have at minimum:
Cash flow statement
Balance Sheet
Income Statement
March 3rd, 2010 at 6:32 am
get quick books online, great way to track all the accounting needs of a small business.
References :
March 3rd, 2010 at 6:47 am
They should have at minimum:
Cash flow statement
Balance Sheet
Income Statement
References :
March 3rd, 2010 at 7:09 am
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good luck
References :
March 3rd, 2010 at 7:47 am
First suggestion: Network with similar companies and find out what they are using. See what works for the specific areas you need to track. Quickbooks is a good program but may not be suitable for your particular business.
Second suggestion: Hire a small business accounting consultant who can get you set-up and trained on proper procedures.
Third suggestion: Work with your tax preparer or CPA to insure that you are accurately documenting for governmental reporting.
References :