With business bookkeeping and basic tax tips for new and old entrepenuers

Friday, March 26, 2010

What is a Good Pattern for Entering Items?

Most people will develop a pattern to enter items into their bookkeeping systems. Developing a pattern and having a checklist helps to ensure you did not forget something on your books. The pattern that I generally use is in this order.
  1. Record Deposits
  2. Record Bank Transfers between accounts
  3. Record recurring debits on the bank account for the month
  4. Record purchases of inventory
  5. Record credit card purchases
  6. Record checks
  7. Record debits per bank statement
  8. Record Cash purchases
I will discuss some of the nuances on some of these items further.
Next, what should I know before recording bank deposits?

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