Summarize the important bookkeeping a firearms business owner and business manager need to know.

In order to summarize the important bookkeeping basics a business owner and business manager needs to know for running a firearms business you will need to break it down into a few different sections of work. An example of this would be what paperwork is firearm related and what paperwork is not. Breaking down the firearm side of the paperwork, you will need separate books for your acquisitions and dispositions. That just means where you got the firearms and a list of the FFL information and a detailed record book of where the firearms went or who purchased them. I may also be smart to keep separate acquisitions books for what was a dealer transfer for a customer who bought the firearm online and are having it transferred to you and what firearms came directly from a manufacturer or distributor.

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