What should I know about accounting and bookkeeping?
The importance of keeping adequate records cannot be stressed enough. We recommend that you computerize your financial records with simple to use software programs such as Intuit's QuickBooks or other available programs.
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. But most important, you need them to run your business successfully and to increase your profits.
Erik Bowman has been to exactly where you want to go and has written brilliantly about how you can get there yourself. His books on start-ups give you a head start and a major competitive advantage. - Jay Conrad Levinson, The Father of Guerrilla Marketing