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Record Keeping

The most useful record-keeping systems are usually also the simplest to understand.
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Your time is valuable, and you will spend too much time maintaining your records if they are overly complex. Furthermore, complicated records may require hiring an accountant or bookkeeper to maintain them, and may start-up homebased business owners simply don't have the cash on hand to hire someone immediately. Develop a comprehensive record-keeping system, but one that is easy to understand and maintain.

Excerpted from Starting a Home-based Business

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