Do you cringe when you open up your QuickBooks file? You have receipts in the car, crumbled receipts in your purse or briefcase, and vendor invoices buried in the papers on your desk or email inbox. Here are ten easy steps you can put in place today to better organize your bookkeeping records so the next time you open up QuickBooks, everything is nicely organized for you.
Money owing from customers in the form of accounts receivable is one of the biggest contributors to your company’s cash flow. While business success hinges on having positive cash flow activity, the money that flows into your business can’t really be counted as income until it becomes cash-in-hand.
No company can continue to operate if it consistently pays out more than it takes in, and it’s the ability to generate and use cash that allows your business to:
Small business owners don’t always recognize that running a business of any type involves a certain amount of risk – even if the service you offer involves little more than a desk and a laptop. If you haven’t done so already, you should consider taking steps to protect both yourself and the enterprise you’ve worked so hard to create by investing in some form of small business insurance.
Business insurance is mostly about protecting yourself financially. Whether you suffer a loss of property due to fire or theft, or your company is sued for negligence, money is inevitably going to be involved.
Whether you’re looking for a new bookkeeper or reevaluating your existing one, you need to know what characteristics to look for to determine the quality and longevity of the potential partnership. What constitutes good bookkeeping? Is it defined by the number of years of experience, or saying “yes” to everything you ask? Or is it more than that? Knowing how to recognize good bookkeeping allows you to set certain expectations and hold your bookkeeper accountable. It also prepares you to make better decisions when choosing what kind of bookkeeper you want to partner with.
Here are five essential qualities to look for in a good bookkeeper: