Frequently Asked Questions about Accounting

Here are some of the most frequently asked questions about accounting that may help you out:

1. What records should I keep?

💲 Balance sheet: assets, liabilities, and equities

💲 Income statement: your business’s income and expenses

2. How can I prepare for tax season?

💲 Keep your eye on business expenses you might need to claim on your tax return

💲 Keep all your financial statements up to date to make filing easier

3. What are common mistakes people make when it comes to their personal and business accounting?

💲 Mixing personal and business accounts

💲 Lack of communication between the client and the accountant

💲 Not keeping your accounting up to date

💲 Forgetting to save receipts

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