End-of-Month/Year Accounting Procedures
In This Chapter
◆ Recapping your income and expenses
◆ Reconciling your bank accounts and making adjustments
◆ Organizing your filing system
◆ Creating monthly financial statements
◆ Preparing year-end closing procedures and tax returns
In this chapter, you will learn about end-of-the-month and end-of-the-year bookkeeping procedures. A shortcut to posting transactions that is an easy alternative for a small business will also be presented. Tips on balancing your checkbook with the bank’s monthly statement will help you catch any errors before they cause problems in the cash flow of your thrift store. Cash flow is the amount of money that comes in and goes out of your bank account.
Again, keep in ...