If you are a new company owner, then bookkeeping is a very important thing for you to do, if your business wants to grow quickly. It is important to know the company’s financial condition and how much cash flow does the company have or does the company suffered loss or profit in that period. Bookkeeping also helps you understand how much money the company has not received in one period, and how many obligations must be paid by the company. But if you are not sure where to start you could always use the service of Bookkeepers near me so you could get professional help to help you run your business smoothly.
By knowing the financial condition, then we can make prevention as early as possible. Knowing the position of cash is minimal so, for example, don’t add to buy the stock first. Many businesses die not because there are no sales but no cash, to buy raw materials and so on. But some steps could help you to start your bookkeeping. If personal and business accounts are combined, then it can happen that we “feel” there is a lot of money and use it for family needs. So that it can happen we have difficulty funding to buy raw materials needed or finance business operations. So make separate bank accounts for personal and business. All money goes in and out of business, through this account.
The important thing but sometimes forgotten is to prepare supporting documents in conducting business transactions, for example; sales/bill and invoice. In a small transaction, it is enough to only use a receipt or even enough to note it in the daily sales book. For example, selling goods in a shop, we just record it in the daily sales book. Because we also don’t provide receipts to buyers. If using a receipt or sales note, please use the serial number. This is to facilitate tracking of future records (there is no double recording, avoiding/minimizing manipulation if transactions are served by employees). This format can use many on books sold in bookstore stores. But it is better to hire a professional bookkeeper to help you start the bookkeeping process so it will be done without any stress.