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Running a business is no small feat, but having a strong and solid grasp on the financial aspects will give you a great edge over your competitors.

Good Books = The life source of your business
Bad Books = A slow and painful death

*Are you mixing personal and business accounts?
*Are your old records accurate and accessible in case of an audit?
*Do you know how long you’re supposed to hold onto those old records?
*Do you understand the financial aspects of your business?
*Do you know your financial limits?
*Do you understand how to use Quickbooks properly?
*Are you making the proper journal entries to keep things accurate?

Effectively being able to analyze your financial statements ensures that you will have a better understanding of your business, be able to determine if your cash flow ratio is positive or negative, and allow you to take steps to maximize incoming funds and minimize outgoing funds.

Being able to make sound business decisions lies heavily on whether or not you are able to keep accurate records. Can you invest in more staff? How about replacing that outdated piece of equipment? How do you decide if you have no idea what your current financial situation is?

There is a lot more to managing your books than just data entering information into Quickbooks. It is, after all, a program designed to streamline your entries, but it is not a bookkeeper and is only as good as the information you enter into it. Entering incorrect journal entries, or hitting the wrong GL account will most certainly throw your books off and could provide you with a false sense of security if the figures come out in your favor.

Good bookkeeping practices can make the difference between a successful and unsuccessful business. You owe it to yourself and your business to stay diligent in keeping your company financial records up-to-date and organized.

 Go ahead…Giv-it-a-go
Call
Givitago Bookkeeping Solutions
today!
321-591-8990

FREE 30 minute consultation – Call 321-591-8990
FREE quote – Click here!