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#1 30-06-2018 05:05:01

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Date d'inscription: 14-02-2015
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Having a business today is probably one of the most convenient ways of making your own money. You do not have to work for other people Cody Bellinger Jersey , go to the office at fixed time and schedules, and have fixed salary that can never provide you significant wealth especially if you are only an employee. Even finding jobs today is pretty hard considering that the financial crisis may seem to last longer so it is always practical if you can put up your own business.

However, starting up a business is a little more intricate than being a salaried employee because here you will be handling your own business operation Corey Seager Jersey , manage number of people to work under you, conduct your own transactions, and the most complex of all is handling your own business account. This is why we have put some dos here as advice with your accounts so that you will learn not only the basic of accounting as your accountability but also how to make use of your money your business is holding.

Do:

1. You have to learn basic accounting before venturing on your idea of business. Go and get some training or enroll to a school that specializes in providing accounting basics to aspiring businessmen.
2. If your business is young and do not have an accountant Chris Taylor Jersey , do your own beekeeping first to familiarize yourself with your business accounting.
3. If you are already running a business always have an accountant around because they are more familiar with the finances your business is involved with.
4. Accounting software are very familiar these days so determine which software program can work best for your business.
5. Some companies are setting up inventory policies and internal controls to protect their finances against dishonest employees and you should also consider this practice.
6. Since your money will be kept by the bank, you must at least reconcile with your bank at least once a month just to keep your bank statement balanced.
7. You have to update and maintain your daily and monthly cash flow through spreadsheets for easy verification and resolution of your finances.
8. If you cannot handle your payroll reporting you can hire a payroll service provider to do this for you.
9. Keep your financial statements updated on a monthly basis.
10. In order not mix your financial records, keep your business records away from your personal records.

Now for another advice with your accounts are the dons. These are some of the precautionary measures which you must be cautious of.

1. When signing checks Jackie Robinson Jersey , do not delegate your authority to anyone.
2. The money that is withheld from payroll taxes or taxes from sales should not be used for other purposes.
3. Do not mix up your business assets records with your personal records of assets.
4. Do not hand over cash flow projections to other people because this is your lifeline to your business.
5. Avoid being too optimistic with your sales projections and at the same time conservative in projecting expenses.
6. Do not rely on verbal agreements especially when it involves matters that include purchases.
7. Do not sign or pay invoice without checking if it matches the purchase order.
8. Do not let someone handle your dealings and relationship with lending sources.
9. Do not wait for good credit sources to come to you but be active in seeking them.
10. When searching for advice with important financial matters, listen to what your accountant and lawyer say because they know more about the legalities of this matter.

If you can follow all these pieces of advice with your accounts then you and your company financial structure and organization can be more secured and carefully watched over. Remember that your business account is the life of your business so better do what you have to do to protect it.
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