Bookkeeping & Accounting Tips
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Do you claim AUTOMOBILE EXPENSES?
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Make sure you are tracking the beginning & end balances and all your business travel
through the year.
Keep a log in your car and record in it every time you get into the car. You’ll
be glad you did at tax time.
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Collect all your RECEIPTS!
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Indicate on your receipt what they are for (ie auto, gas, etc).
If the receipts are for meals, make sure to indicate who was at the dinner and what
you discussed.
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Remember to BACK UP YOUR DATA!
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Use alternate floppies or CDs each day, so if your computer does crash, you will
only lose one day of data.
Also, it’s a good idea to keep a back up OFFSITE or in a fire safe.
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For NEW BUSINESSES...
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If you’re just starting up, a simple way to begin filing is to use an accordion
filing folder with at least 12 pockets for every month.
Keep everything in the appropriate month. It’s not complicated, and it may be the
answer for those who don’t like to file.
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TRAVELLING?
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Try to mix business with pleasure. A seminar attended or a supplier visited can
allow you to write off a portion of your trip.
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