Chapter 3
Keeping the Books
In This Chapter
Distinguishing between bookkeeping and accounting
Getting to know the bookkeeping cycle
Making sure your bookkeeping and accounting systems are rock solid
Doing a double-take on double-entry accounting
Deterring and detecting innocent errors and cunning fraud
Keeping books in the cloud and on the ground
I think it’s safe to say that most folks are not enthusiastic bookkeepers. You probably balance your checkbook against your bank statement every month and somehow manage to pull together all the records you need for your annual federal income tax return. But if you’re like me, you stuff your bills in a drawer and just drag them out once a month when you pay them. And when’s the last time you prepared a detailed listing of all your assets and liabilities (even though a listing of assets is a good idea for fire insurance purposes)? Personal ...
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