The habit that saves you.
WHAT TO RECORD
Every sale Every expense Every invoice issued and received Bank transactions Assets purchased
WHY FROM THE START
Reconstructing records later is expensive and frequently impossible.
WHAT THAT ENABLES
Knowing whether you are profitable Filing accurately Supporting what you claim Answering questions if asked
WHAT TO KEEP
Receipts and invoices Bank statements Contracts Anything supporting a figure
HOW
A spreadsheet is sufficient to start.
Accounting software as you grow.
WHAT MATTERS MOST
Consistency. Recorded weekly beats recorded annually.
WHAT TO SEPARATE
Business and personal, completely.
WHAT TO BACK UP
All of it, in more than one place.
FOR HOW LONG
Follow your accountant's advice on retention periods.
WHAT TO AVOID
Keeping everything in a shoebox Reconstructing a year at filing time
