They are familiar terms that we vaguely understand but try to avoid at all cost. The moment you gain a little of enthusiasm towards them and open a book, or scan a website to learn more, you retract in horror at what it involves! And yet, if you have a methodical system, maintain some legible records then you can survive that initial terrifying moment of realisation. Bookkeeping and Accounting all boils down to detailing your business income and expenditure. Simple bookkeeping For the most simple set of accounts you need: • a cash book to record money entering and leaving
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