4 Rules of Success for DIY Small Business Accounting

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Do you check your personal bank account every day or get an email with a balance alert? It's probably because you want to know where you stand at all times. The same mindset should hold true with your business accounting.

DIY small business bookkeeping tips | www.deductingtherightway.com

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If you tackle your bookkeeping on a fixed schedule, the tasks don’t pile up, and you're not fueling your procrastination. 
Plus, you will get better, faster, and more comfortable with your bookkeeping file. 

Here are the workflow tips that help you keep everything under control.

Rule #1 - Log into your small business accounting software each day or every other day. Get in the habit of checking your bank register, accounts receivable and accounts payable transactions.

Rule #2 - Take advantage of automation. Sync your bank account to your bookkeeping file and set up rules to categorize your recurring transactions automatically.

Rule #3 - Don’t rush it. You probably prefer to get through all your tasks lickety-split, but that’s when mistakes happen. Do yourself a favor and take it slow (it's not a race).

Rule #4  - Get training and expert advice. If you move forward with DIY small business accounting, then you need to strengthen your skills and knowledge. Enroll in classes, view videos and listen to the experts.

TIP: These rules not only save money on bookkeeping fees, but you get a clear picture of your company’s financial health.


DISCLAIMER: Please consult with your accountant, attorney and financial advisor before implementing any tips listed on this website. 
DIY research does not replace the advice of a licensed professional who has thoroughly reviewed your file.