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How To Start a Bookkeeping Business in 2022 [Step by Step]

Ryan Lazanis

Step 1 – Define Your Purpose If you’re starting a public accounting firm, you should probably know why you’re starting it in the first place. This “why” is the purpose of your accounting firm and it’s important that the purpose of your accounting firm is incredibly clear to you, your team, and your clients.

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How to Set Up Accounting for a New Business: A Full Guide

xendoo

Now, of the two, new businesses are better off using accrual accounting. With accrual accounting, the transactions are recorded early on in the process. With this, the business can better track accounts receivable and accounts payable. Still, doing your own accounting has its downsides.