Contractor Bookkeeping Vs. Regular Bookkeeping
Contractor Bookkeeping
JUNE 18, 2012
Business Owners - Need three basic reports, Cash, Profit and Equity. Profit And Loss Report. Sales - Expenses) = Profit. Assets - Liabilities) = Equity. Expenses - Overhead required to maintain business operations. The bookkeeper generates a report showing $5,000 profit when in reality it was a ($15,000) loss!
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