How does one start a second hand books business ?
dev asked:
What accounting books are necessary to maintain ? There are no receipts for books purchased from roadside vendors so what does one do ?
One buys old books and antiques, collectibles from those selling on road or small stalls, and they never give receipts or even their name or address.
How does one enter such details in accounting books ?
Merlin
What accounting books are necessary to maintain ? There are no receipts for books purchased from roadside vendors so what does one do ?
One buys old books and antiques, collectibles from those selling on road or small stalls, and they never give receipts or even their name or address.
How does one enter such details in accounting books ?
Merlin
The IRS requires you to keep a log of all transactions in some format. This could be as simple as a spiral notebook with each title, date bought, date sold, price bought, price sold.business expenses (i.e.utilities, rent) should also be documented by amount paid and date.