Setting Up an Accounting System

Throwing all your receipts in a shoebox is just a start. To truly track your business's finances, you need to incorporate all the data from those receipts and from your inventory and customer management systems into some sort of an accounting system.

This chapter isn't the place to go into all that's involved in setting up a detailed small business accounting system; there are lots of books and online resources that are more appropriate to the task. We can, however, take a look at what you need to track to make your accounting system work.