Keeping track of your incoming and outgoing finance as a small business is essential. One of the first things that you need to do is that you keep all of your receipts. These receipts will be your money paper trail and will help you keep track of what you have spent and earned within your business.
Many people hire a bookkeeper to do their monthly business reconciliation with QuickBooks online, as this can drastically speed up the process.
You can either use a ledger book, or you can create a spreadsheet on Microsoft XL, access or create a table in Microsoft Word. Using a program like this can save you time, and you can create formulas to help you work out the totals.
As a start, you will need an income and an expense section. You will then need to divide your expenses into things like regular recurring expenses, if you have received payment or income from more than one source, and so on.
You can break this down by week or by month; it is whatever suits your business.
Ideally, you will always keep a record of your incomings and outgoings. However, one of the most vital things that you can do to make this process easier is to hire a bookkeeper.
Try to always look for a bookkeeper that has a myriad of other options. For example, like a white glove company formations, training, and accounting too. That’s where we come into it; we have a passion for helping our clients manage their bookkeeping and tackling business finance with confidence.
Thanks for taking the time to read our post, we hope you have found it informative. Visit www.kissmybooks.com to learn more about our bookkeeping and other services. If you have specific questions about Kiss My Books or would like to schedule an appointment visit us online at www.kissmybooks.com or call today at (925) 344-9667.