This part explains why you must keep records, what kinds of records you must keep, and how to keep them. It also explains how long you must keep your records for federal tax purposes. A sample recordkeeping system is illustrated at the end.
Daily Summary of Cash Receipts
Monthly Summary of Cash Receipts
Check Disbursements Journal
Employee Compensation Record
Information courtesy of the Internal Revenue Service.
Starting a Business and Keeping Records:
What New Business Owners Need To Know
Forms of Business
How To Get More Information