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Accounting and bookkeeping are an integral part of running a business. It helps keep track of required records and ensures that the business is keeping up with financial and tax obligations.
Furthermore, keeping your transactions, contracts and other records organized is vital in business decision-making and accurate financial forecasts.
In the case of small business owners, sometimes proprietors manage their own books using one of the many accounting software applications available today. But whether you choose to hire a bookkeeper or to take care of your accounts yourself, you should familiarize yourself with basic bookkeeping and accounting practices to make sure you are on top of your game (and financial gain) in your business or entrepreneurship initiatives.
Below is a handy checklist to keep you organized with your business finances, and a brief comparison on two of the most popular bookkeeping and accounting tools for your small business.
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