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8 Common Misconceptions About Bookkeeping

I was curious what various bookkeepers and accountants thought were common misconceptions in the industry. I poked around a bit and here is what I discovered. The first two come from COS Bookkeeping: Bookkeeping and accounting are the same thing. Nope, not really. Most CPA’s focus on tax preparation. Bookkeepers do the day-to-day managing of…

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Supercharge Your Receipts for Tax Time

Like any good business person, you want to take as many legitimate business expense deductions as possible to save on your taxes. If Uncle Sam comes knocking on your door for proof that you bought what you said you bought, could you tell him? If you use your credit/debit card to make all your purchases,…

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10 Signs You Should Invest In Bookkeeping

10 Signs You Should Invest in Bookkeeping

Why should you hire a bookkeeper? I looked around the web to confirm my own thoughts on the matter and this is what I found. According to Eileen P. Gunn in Entrepreneur Magazine: 1. You’re probably not doing as good a job as you think on your own. Entrepreneurs who hire accounting help usually discover…

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Personal vs Business Accounting – A Bridge Too Far?

It’s very easy to start learning business accounting and think you’re in a whole new world. “It’s so complicated!”, you say. Well, one approach is to bridge your knowledge of your personal finances to your business finances and that, believe it or not, is not a bridge too far. The Chart of Accounts doesn’t really…

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Lions and Tigers and Bears and Debits and Credits, Oh My!

One of the most frustrating aspects of accounting is the jargon. Unfortunately, the confusion begins right in Accounting 101 at the very beginning when you’ve just dipped your toe in the water. Debits and credits don’t mean what you think they do if you’re just an average Joe like me (or in my case, an…

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Welcome to BOOKKEPT

Here you’ll find articles about the in’s and out’s of bookkeeping plus some social media stuff thrown in to keep things fun.

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