| Preface | 11 |
| Introduction | 13 |
| Chapter 1 | Understanding Business Financial Recordkeeping | 15 |
| Recordkeeping Terminology | 16 |
| The Balance Sheet | 16 |
| The Profit and Loss Statement | 19 |
| Accounting Methods | 21 |
| Accounting Systems | 21 |
| Accounting Periods | 22 |
| Recordkeeping Review | 22 |
| Chapter 2 | Simplified Accounting System | 23 |
| Instructions | 23 |
| Financial Recordkeeping Checklist | 26 |
| Chapter 3 | Business Chart of Accounts | 28 |
| Instructions | 28 |
| Income Accounts | 30 |
| Income Chart of Accounts | 31 |
| Expense Accounts | 32 |
| Expense Chart of Accounts | 33 |
| Asset and Liability Accounts | 34 |
| Balance Sheet Chart of Accounts | 35 |
| Sample Chart of Accounts | 36 |
| Chapter 4 | Business Bank Accounts and Petty Cash Fund | 38 |
| Bank Account Procedures | 38 |
| Check Register Instructions | 39 |
| Check Register | 41 |
| Sample Check Register | 42 |
| Reconciling Your Monthly Bank Statement | 44 |
| Monthly Bank Statement Reconciliation | 45 |
| Petty Cash Fund | 47 |
| Petty Cash Register | 48 |
| Bank Account Checklist | 49 |
| Petty Cash Fund Checklist | 49 |
| Chapter 5 | Tracking Business Assets | 50 |
| Current Assets | 50 |
| Current Asset Account Record | 53 |
| Inventory | 54 |
| Physical Inventory Record | 55 |
| Periodic Inventory Record | 57 |
| Perpetual Inventory Record | 59 |
| Cost of Goods Sold Record | 61 |
| Fixed Assets | 63 |
| Deductible Expenses | 65 |
| Depreciable Property | 65 |
| Fixed Asset Account Record | 66 |
| Business Assets Checklist | 68 |
| Chapter 6 | Tracking Business Debts | 69 |
| Combined Accounts Payable Record | 70 |
| Accounts Payable Record | 70 |
| Individual Accounts Payable Record | 73 |
| Long-Term Debt Record | 75 |
| Business Debts Checklist | 77 |
| Chapter 7 | Tracking Business Expenses | 78 |
| Tracking Expenses | 79 |
| Daily and Weekly Expense Records | 80 |
| Monthly Expense Summary | 84 |
| Annual Expense Summary | 86 |
| Travel, Auto, and Meals and Entertainment Expenses | 88 |
| Weekly or Monthly Travel Expense Records | 89 |
| Annual Travel Expense Summary | 92 |
| Weekly or Monthly Auto Expense Records | 94 |
| Annual Auto Expense Summary | 97 |
| Weekly or Monthly Meals and Entertainment Expense Records | 99 |
| Annual Meals and Entertainment Expense Summary | 102 |
| Purchase Orders | 104 |
| Purchase Order Record | 106 |
| Business Expenses Checklist | 107 |
| Chapter 8 | Tracking Business Income | 108 |
| Tracking Your Cash | 109 |
| Daily or Weekly Cash Records | 109 |
| Monthly Cash Summary | 113 |
| Tracking Income | 115 |
| Daily or Weekly Income Records | 115 |
| Monthly Income Summary | 118 |
| Annual Income Summary | 120 |
| Tracking Credit Sales | 122 |
| Daily, Weekly, or Monthly Credit Sales Records | 122 |
| Credit Sales Aging Report | 126 |
| Invoices and Statements | 128 |
| Invoice | 128 |
| Statement and Past Due Statement | 130 |
| Credit Memo | 133 |
| Business Income Checklist | 135 |
| Chapter 9 | Tracking Payroll | 136 |
| Setting Up Your Payroll | 137 |
| Quarterly Payroll Time Sheet | 139 |
| Employee Payroll Record | 141 |
| Payroll Depository Record | 143 |
| Annual Payroll Summary | 145 |
| Payroll Checklist | 147 |
| Chapter 10 | Preparing a Profit and Loss Statement | 148 |
| Short Profit and Loss Statements | 149 |
| Monthly Short Profit and Loss Statement | 151 |
| Quarterly Short Profit and Loss Statement | 152 |
| Profit and Loss Statements | 153 |
| Monthly Profit and Loss Statement | 154 |
| Quarterly Profit and Loss Statement | 155 |
| Annual Profit and Loss Statement | 156 |
| Estimated Profit and Loss Statement | 157 |
| Profit and Loss Statement Checklist | 159 |
| Special Instructions for Cash Method Accounting | 160 |
| Chapter 11 | Preparing a Balance Sheet | 162 |
| Balance Sheets | 162 |
| Monthly Balance Sheet | 165 |
| Quarterly Balance Sheet | 166 |
| Annual Balance Sheet | 167 |
| Balance Sheet Checklist | 168 |
| Chapter 12 | Analyzing the Financial Statements | 169 |
| Net Profit Margin | 173 |
| Gross Profit Margin | 173 |
| Return on Sales Ratio | 174 |
| Current Ratio | 175 |
| Debt to Net Worth Ratio | 176 |
| Cash Turnover Ratio | 177 |
| Collection Ratio | 178 |
| Investment Turnover Ratio | 179 |
| Return on Investment Ratio | 180 |
| Ratio Comparison Chart | 181 |
| Chapter 13 | Mechanics and Schedules of Recordkeeping | 183 |
| Setting Up Your Recordkeeping System | 183 |
| Financial Recordkeeping Schedules | 184 |
| Daily Recordkeeping Tasks Checklist | 185 |
| Weekly Recordkeeping Tasks Checklist | 185 |
| Monthly Recordkeeping Tasks Checklist | 186 |
| Quarterly Recordkeeping Tasks Checklist | 188 |
| Annual Recordkeeping Tasks Checklist | 189 |
| Financial Forms Checklist | 190 |
| Chapter 14 | Business Tax Forms | 192 |
| C-Corporation Tax Forms Checklist | 193 |
| C-Corporation Monthly Schedule | 194 |
| C-Corporation Quarterly Tax Schedule | 194 |
| C-Corporation Annual Tax Schedule | 194 |
| S-Corporation Tax Forms Checklist | 195 |
| S-Corporation Monthly Tax Schedule | 196 |
| S-Corporation Quarterly Tax Schedule | 196 |
| S-Corporation Annual Tax Schedule | 197 |
| Limited Liability Company Tax Forms Checklist (Taxed as a Corporation) | 198 |
| Limited Liability Company Tax Forms Checklist (Taxed as a Partnership) | 199 |
| Limited Liability Company Tax Forms Checklist (Taxed as a Sole Proprietorship) | 201 |
| Limited Liability Company Monthly Tax Schedule | 202 |
| Limited Liability Company Quarterly Tax Schedule | 202 |
| Limited Liability Company Annual Tax Schedule | 203 |
| Partnership Tax Forms Checklist | 204 |
| Partnership Monthly Tax Schedule | 205 |
| Partnership Quarterly Tax Schedule | 205 |
| Partnership Annual Tax Schedule | 206 |
| Sole Proprietorship Tax Forms Checklist | 207 |
| Sole Proprietorship Monthly Tax Schedule | 208 |
| Sole Proprietorship Quarterly Tax Schedule | 208 |
| Sole Proprietorship Annual Tax Schedule | 209 |
| Federal Tax Forms | 210 |
| Application for Employer Identification Number: IRS Form SS-4 | 210 |
| U.S. Individual Income Tax Return: IRS Form 1040 | 211 |
| U.S. Individual Income Tax Return: IRS Form 1040-A | 213 |
| Profit or Loss From Business (Sole Proprietorship): IRS Form 1040 (Schedule C) | 215 |
| Net Profit From Business (Sole Proprietorship): IRS Form 1040 (Schedule C-EZ) | 217 |
| Estimated Tax for Individuals: IRS Form 1040-ES (Worksheet) | 218 |
| Payment Voucher: IRS Form 1040-ES | 218 |
| Income Tax Return for Single and Joint Filers With No Dependents: IRS Form 1040-EZ | 219 |
| Income Tax Return for Single and Joint Filers With No Dependents: IRS Form 1040-EZ (Worksheet) | 220 |
| U.S. Self-Employment Tax Return: IRS Form 1040-SS | 221 |
| Expenses for Business Use of Your Home: IRS Form 8829 | 226 |
| U.S. Return of Partnership Income: IRS Form 1065 | 227 |
| Partner's Share of Income, Credits, Deductions, etc.: IRS Form 1065 (Schedule K-1) | 231 |
| U.S. Corporation Income Tax Return: IRS Form 1120 | 233 |
| U.S. Corporation Short-Form Income Tax Return: IRS Form 1120-A | 237 |
| U.S. Income Tax Return for an S-Corporation: IRS Form 1120-S | 239 |
| Shareholder's Share of Income, Credits, Deductions, etc.: IRS Form 1120-S (Schedule K-1) | 243 |
| Estimated Tax for Corporations: IRS Form 1120-W (Worksheet) | 245 |
| Election by a Small Business Corporation: IRS Form 2553 | 248 |
| Entity Classification Election: IRS Form 8832 | 250 |
| Employer's Annual Federal Unemployment (FUTA) Tax Return: IRS Form 940 | 251 |
| Payment Voucher: IRS Form 940-V | 251 |
| Employer's Annual Federal Unemployment (FUTA) Tax Return: IRS Form 940-EZ | 253 |
| Form 940-EZ Payment Voucher: IRS Form 940-EZ(V) | 253 |
| Employer's Quarterly Federal Tax Return: IRS Form 941 | 254 |
| Payment Voucher: IRS Form 941-V | 255 |
| Annual Summary and Transmittal of U.S. Information Returns: IRS Form 1096 | 255 |
| Miscellaneous Income: IRS Form 1099-MISC | 256 |
| Wage and Tax Statement: IRS Form W-2 | 256 |
| Transmittal of Wage and Tax Statements: IRS Form W-3 | 257 |
| Employee's Withholding Allowance Certificate: IRS Form W-4 | 258 |
| Employee's Withholding Allowance Certificate: IRS Form W-4 (Worksheet) | 259 |
| Federal Tax Deposit Coupon: IRS Form 8109-B | 260 |
| Glossary of Accounting Terms | 261 |
| Index | 264 |
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