Part of running a business successfully is ensuring you’re keeping up-to-date, correct records and following appropriate bookkeeping and accounting methods. In this lesson, we take a look at the essentials of bookkeeping, including key bookkeeping terms, as well as what to keep track of and how to do this. We also look at the two main methods of accounting – cash-basis and accrual-basis – and review a checklist for your business plan.
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