What Are You Waiting For?

Raise Your Hand

Raise your hand if you’ve begun working on 2008 bookkeeping. Excellent! And the rest of you. What are you waiting for?

Why wait until April 30th to see the results of this years work. By starting now you can create a Profit & Loss statement that will show you whether you’ve made or lost money and how you spent it. This one report is a terrific piece of information that can help you more now than later.

Do you use the services of a bookkeeper or are you doing it yourself? We wear many hats while trying to run our business and maybe we’re wearing too many. If you struggle with the bookkeeping, and I know it’s not an enjoyable task, then perhaps you should consider getting some help. Most Professional Bookkeepers will provide outsourcing of the work; training in the use of the software; or help in figuring out what expense category to use.

Excerpt from a Home-based Business article-
Don’t overlook management/bookkeeping. Lack of managerial expertise is one of the single highest causes of business failure. Take courses, seek expert advice or hire help, but do learn basic management skills before you start.
http://www.canadabusiness.ca/servlet/ContentServer?pagename=CBSC_FE/display&c=GuideFactSheet&cid=1081945277281?=en

Of course you need some type of system for recording everything. This could be an accounting program, spreadsheet or paper-based. In the comment box please let me know what kind of system you use for your bookkeeping. I’d really like to know. In a future article I’ll post my findings along with info on the various systems.