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I want to talk about something very specific to bookkeeping and small business owners I want to talk about your chart of accounts its the little categories the individual line items and your balance sheet and your profit and loss these need to be very clean and very easy to understand I see two things one I see business owners put individual vendors in their chart of accounts so their p l is like three pages long dont do that second I did this Im guilty of it I put individual assets on my profit and loss statement so for my truck I had fuel for truck one fuel for truck two dont do that