A new year symbolizes a fresh new start. We create personal goals to help us eat healthier, exercise more, and improve our spending habits. Many times, business owners start the new year off with plans to become better organized and more profitable. Here are a couple of ways to help your business achieve those goals.
If you have not already opened a business bank account, you should. Running all your business transactions through a separate account helps you easily identify your business income and expenses. If your business transactions flow through your personal account, you run the risk of overlooking business expenses or accidently coding personal expenses to your business. This is one of the first steps to help get your business on the right track.
If you have a lot of transactions every month, we also recommend linking your bank account to an online bookkeeping service, such as QuickBooks. There are many different bookkeeping platforms to choose from, depending on your business needs. These services help you classify your purchases into expense categories as they hit your bank account. You always have access to real time profit and loss statements this way.
These are just two little things that can help get your business organized. Give us a call, we would love to help you start the year off right!