Friday, June 15, 2012

Bookkeeping Tips: Review Financials Monthly

At the end of each month, print reports to get an overview of month. Print a transaction report to compare to your bank statement to make sure you've accounted for all transactions. Print an accounts receivable report so you can send an invoice to clients who owe you money. Run an income and expense report to make sure you're operating in the black. Evaluate expenses to determine if they were necessary and provided a financial return.

Courtesy of Small Business/Chron

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