Tip 8: • Accounts Receivable •
Pay attention to when receivables should be made as your business’s cash flow can dry up fast!
Tip 7: • Monitor employees hours •
Tip 7: • Monitor employees hours •
Use time tracking software to monitor employees start and finish times. This will also help you keep up to date with any overtime.
Tip 6: • Record business expenses •
Tip 6: • Record business expenses •
Maintain records for anything you think you will be claiming. Simplify this by always using w business credit card for business purchases.
Tip 5: • Perform quarterly reviews •
Tip 5: • Perform quarterly reviews •
Every few months take a look at your bookkeeping and accounting records. Look for trends such as growing or decreasing sales / late paying customers.
Tip 4: • Undertake regular finance check ups •
Tip 4: • Undertake regular finance check ups •
Go over your books weekly to make sure everything is in ship-shape
Tip 3: • Ask a professional •
Tip 3: • Ask a professional •
Ask us for any help you may need. We are currently offering a free hour consultation to anyone interested in our services!
Tip 2: • Automate whatever you can •
Tip 2: • Automate whatever you can •
Stop entering / reconciling data into spreadsheets. Sync your banking software to your business bank account so that your records are always accurate and up to date.
Tip 1: • Keep business and personal finances separate•
Tip 1: • Keep business and personal finances separate•
Open a business bank account and get a separate business credit card. This will help to separate your finances but also help your business build it’s on credit rating!
