Tips for Keeping your Business Finances on Track

Running a business, running a household and having some time for yourself can be hard. Here are some tips to keep your business finances an easier part of your life:

1. Set 15 minutes a week to review the week’s expenses. Its just 15 minutes. Imagine how stressful the end-of-year reporting will be if you didn’t keep it up all year long. This will give you time to organize and keep track of what’s going on on a week-by-week basis.

2. If you are swamped, call in a pro. That’s what we are here for! You may think that you’ll save money by doing it yourself but really you’ll spend more in payable time, headaches and stress. We are here to be a trusted helper and adviser in keeping your records clean, finding more deductions and keeping you penalty-free.

3. Keep the business expenses separate. I know it’s easier to buy your child’s lunch box with the company card, but that is not a business expense. It may have been handy and ready in your pocket – but that’s not a good excuse. Keep it separate. Save yourself complicating transfers and actual accounting transactions by only using the business money for business expenses.