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Ultimate Checklist of Bookkeeping Tasks for Small Businesses – Infographic
Managing your small business finances is not a cake walk. Understanding all the ins and outs is vital to stay stress-free and earn more. Therefore it is advisable that you should create a realistic plan with a budget, prepare a checklist of bookkeeping tasks, record all the transactions accurately, and review outcomes regularly.
Even though you can opt for online bookkeeping services, it is crucial for you to know how everything works. This is the sign of being a smart and financially savvy business owner!
Poorly managed accounting and bookkeeping has shut down many small businesses. According to the report by National Federation of Independent Businesses (NFIB), around 30% of small businesses don’t survive their first two years, and another 50% don’t survive till their fifth year.
Thus, if you don’t want your business to become another statistic, always keep basic bookkeeping checklist in hand to ensure that your small business carries all the operations efficiently for the long run.
Here in this Infographic, we’ve outlined the basic bookkeeping checklist that small businesses can keep handy to streamline their day-to-day bookkeeping operations as well as make their tax season seamless:
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