In order to have a successful business you must know the status of your cash flow to make good decision about your business. In order to know the status of your business you must have up to date and accurate book keeping.
Here are a few steps in keeping your books up to date:
- Get Organized! Organization is very important to keeping your books up to date. A place for everything and everything in it’s place. Creating an organized filing system would be the best start.
- Purchasing an Accounting Software Program – A computerized accounting software program can help you keep track of your expenses and income. QuickBooks is a great accounting software for start ups and small businesses. It is inexpensive and provides all the features need to run your accounting system.
- Commitment – Schedule a time of the month to update your accounting software with your monthly transactions. It is very important to do your bank reconciliation and credit card reconciliations to ensure that the data you have imputed is correct.
If you can follow these few basic steps you will continue to have up to date accurate accounting records.