![]() ![]() The benefits and control far outweigh the cost. Although recording transactions manually or in Excel sheets is acceptable, it is probably easier to use accounting software like QuickBooks. ![]() Record each transaction (billing customers, receiving cash from customers, paying vendors, etc.) in the proper account daily or weekly, depending on volume. Doing so gives you peace of mind that you won’t lose your data if you have a hardware failure, file corruption, or some other issue.īack to Year-End Guide & Checklists Table of Contents Year-End Weekly Guide Steps & Checklist If you’re not using cloud-based accounting software like QuickBooks that automatically backs up your data, back up your financial data manually every day. This gives you an up-to-date look at your accounts, showing you the money moving in and out of your business. If it doesn’t, you’ll need to do this manually. ![]() Ideally, your accounting software automatically does this for you each day, syncing your bank and credit card feeds and the sales data from your POS system into your accounting software. Your comfort level with the three basic financial reports that evaluate your fiscal health is also essential: the balance sheet, income statement, and cash flow statement. The key, of course, is to create a realistic plan with a budget, record your transactions correctly, review your results regularly and always keep good records. Managing your business finances does not have to be eat-your-spinach drudgery. However, it is not the gas in your tank right now. Knowing how much you expect to receive and how much you expect to pay during the upcoming week/month is important, too. Start your day by checking how much cash you have on hand. Since cash is the essential fuel for your business, you never want to be running near-empty. Year-End Daily Guide Steps & Checklist 1. QuickBooks Inventory Tracking to Fishbowl. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |