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Ever since the Debit card was born, I have not used a ckbook..Seriously...I havent used one in over 14 yrs...I just go by my online transactions everyday. So in case of an audit, what would happen if I didnt have one but had all my bank statements? Do I HAVE to use a ck register? I just dont have time..I have kids here till 630, make dinner, eat dinner, take care of my own kids, and I am in bed by 9pm...exhausted..So I seriously think I would not have time to balance & maintain a ck book! I cant even keep up with MMK!!
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obviously neither can I LOLI cant even keep up with MMK!!
It is my goal for the week and that is why I have a million questions. -
Check book
You are not required to have a checkbook. You are required to keep "adequate records" of your business income and expenses. An adequate record for an expense would be a receipt, credit/debit card statement, written record, photograph, etc. Ideally, you want receipts for all expenses.Comment
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