In order to have a successful business, it’s important to have all paperwork in order.
- Make sure you have accurate record keeping. This means making sure you are keeping receipts, electronically is best, in a system so that if you ever do get audited you have those receipts and records ready for you. One of the best systems I like to use is QuickBooks. With Quickbooks Intuit it is really easy to add receipts and keep accurate records you need to run your business.
- Hire an accountant from the beginning of your career as a new business owner, or if you’ve already been in business for awhile, go and get an accountant that can clean up your books. It is such a great investment and it’ll make your life so much easier as a business owner when you have the system and the processes in place. You will have all the knowledge and all the numbers in your business in one place and you will be able to be successful.
Who wants to spend endless number of hours working on their books when if they’d kept that up on a regular basis it would only take a couple of hours? Not only that, but you’re going to have all the information that you need to make really sound business decisions. So the recommendation that I have is to make sure you’re keeping accurate records of all of your accounting processes and if you haven’t already hired an accountant, go and do that.
Download Tom’s Business Freedom Checklist: www.TomJackobs.com/freedom and learn what you need to do to create freedom in your business.
