I have the following?
So that each step of each transaction may be verified and vouched by proper documentary evidence. This is necessary so that proper accounting records may be kept and also so that legal evidence will be available in the event of a dispute between the parties to any contract.
How does that sound ?
Is there anything else anyone would add to this?
2007-03-18 13:04:12 · 2 answers · asked by Jack 2 in Business & Finance ➔ Small Business
You have the idea.
Other reasons would be:
1) For the filing of business taxes and if a single proprietorship business, for your income tax purposes.
2) The most basic reason: to know where your money is coming from and going to.
2007-03-18 15:22:59 · answer #1 · answered by arienne321 4 · 0⤊ 0⤋
Taxes: expenses, sales and income.
2007-03-18 13:16:27 · answer #2 · answered by netthiefx 5 · 0⤊ 0⤋