Whether your business is established or you’re just beginning, tracking your business expense is a necessity.
When tracking your expenses, make sure you separate business expenses from personal expenses.
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Year-end Accounting – Record All Business Expenses
Separate business expenses from personal
Separating business and personal finances may not be an easy task for first-time business owners who are unfamiliar with the process.
Obligation to file tax returns in Cameroon
In Cameroon, a new business maybe exempted from paying the business license tax for at least one year. This does not stop the business from declaring and paying their income taxes.
Follow-up Unpaid Invoices – Year-end Accounting
It’s very important for you as a business owner to start chasing your unpaid invoices before you close your books for this year.
Year-end Accounting – Put together necessary paperwork
Most business owners juggle their year-end accounting procedures with the heavy sales and traffic they receive during the end of the year.
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