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MENTOR BOOKKEEPING

Importance:

BOOKKEEPING IMPORTANCE

1.Plan for Major Expenses.

2.Track Expenses.

3.Keep track of invoice dates and amounts.

4.Tax preparation.

5.Cash flow.

6.Leave an Audit Trail.

7.Educate Yourself.

8.Know when to get external help.

9.think about your project plan

Basic Cycle of Bookkeeping

"Bookkeeping is the process of recording and organizing financial in a regular basis"

Benefits:

Benefits:

Outcome of good bookkeeping:

-increase accuracy

-save valuable time

-access data

-focused work staff

-save cost

-scalability

Purposes

There are two basic goals in bookkeeping. Keeping track of your income and expenses so that you improve your chances of making a profit. Collecting the financial information so that you can file all the necessary tax returns to the federal, state and local taxing authorities.

Goal:

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