Monday, January 27, 2014

3 Bookkeeping Tips for Business Owners

As a business owner you need to be 100% involved in your finances. Don’t pass the torch onto a CPA or a financial firm and hope for the best. You care the most about your money. Period!

I’ve compiled three tips for business owners when it comes to bookkeeping. They’re listed below and remember – no one cares as much about your money than you do, so don’t assume bookkeepers and CPAs have it handled. Check their work and then check again.

#1. Track your expenses monthly. Sit down and really take the time to identify where any overspending is occurring and how next month can be better.

#2. Pay your invoices on time. Seems simple but I have to stress it. Not only can late paid invoices cause you to absorb tremendous late fees, this act will lower your D&B number. You want to be paid on time and so do other business owners.

#3. Make sure you know what and when taxes to the IRS are due. I’m serious. Most business owners aren’t aware of the specific and different deadlines required by the IRS for business taxes. If you don’t know, find out.

Until tomorrow,

Twyla Garrett

1 comment:

  1. These were such helpful tips! I'm thinking about getting some extra help with our numbers. Keeping up with bookkeeping is tough for our business lately!
    Sylvia | http://www.blpcpa.com/

    ReplyDelete

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