Tips The accounting officer is required to: determine whether the financial statement are in accordance with the accounting records, determine the accounting policies applied in the preparation of the financial statement and report to members on the above matters.

No matter how small your small business is, it is essential to have some sort of accounting and billing police and methodology. This will prevent you from making mistakes and upsetting vendors or even bouncing checks.

Most sole proprietor and single employee companies do not have a plan of attack for accounting and billing procedures until there is a crisis. There is no sense in allowing a crisis to take hold, especially when a few procedures are set in place to prevent it. Remember Noah built the Ark before the rain.

Below you will see a simplistic outline to help you and guide you along as you develop your own accounting and billing policies to insure you are paid on time and pay your bills when they are due. Now then, my business will be slightly different than your business so you may wish to slightly modify this outline

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