What resources are available for doing my own accounting and recordkeeping?

      It is extremely important for every business owner to keep good records! Without records, you cannot see how well your business is doing and where it is going. At a minimum, records are needed to substantiate:

• Your tax returns under Federal and State laws, including income tax and Social Security laws;
• Your request for credit from vendors or a loan from a bank;
• Your claims about the business, should you wish to sell it.

      The SBDC offers several Financial Management and QuickBooks© classes for business owners who wish to do their own accounting.

      At some point in time, it may become too much to handle on your own and it may be time to hire an accountant to assist in some of the recordkeeping activities. It is important to choose an accountant who can give you good financial, managerial and accounting advice and serve as a positive force in your business.