Bookkeeping Tips: Track Everything

Income and expenses aren't the only areas that impact a business' bottom line. Other areas to monitor are accounts receivable--who owes the business money, loans, petty cash and taxes--as well as sales tax and estimated tax. Keep a small notebook in the car or use a mileage tracking application on your smartphone to track auto expenses. Keep another notebook or application for tracking petty cash withdrawals. http://www.bmfms.com

Courtesy of http://smallbusiness.chron.com