| 1. Due Date Reminders. This is something a lot of | | | | you're keeping your books, make sure to use the |
| business owners don't do, but really need to - having a | | | | same headings and columns throughout the year - |
| payroll tax due date reminder can save you a lot of | | | | don't get the brilliant idea to start labeling something |
| time and energy. No matter if you have a payroll | | | | differently halfway through. You're going to give |
| service preparing your payroll tax returns, of if you're | | | | yourself, and your accountant, a headache in the long |
| doing them yourself, a check off list of all the reports, | | | | run if you do, and end up paying him for more time |
| as well as a due date reminder customized to your | | | | spent on your books! |
| business's specific needs, can save you a lot. Consider | | | | 5. Bank Statements. Requesting a statement with a |
| including things like: due date, report number, time | | | | month-end cut off date when you first open your |
| period, government agency. | | | | business checking account can save you a lot of time, |
| 2. Audit Trail. This sounds complicated, but trust me, it's | | | | frustration, and headaches. |
| not - basically, an audit trail is a record of every invoice | | | | The key with this really is to remember to review it |
| and check in numeric order. Making sure that you | | | | every single month, not just toss it unread into a filing |
| never skip a number can really mean the difference | | | | cabinet. Go over everything closely, before your |
| between a good paper trail and one that's missing a | | | | bookkeeper or accountant, and make sure there are |
| vital part. Record every voided check with the others, | | | | no unauthorized checks or suspicious spending. You |
| just make sure to make note that it's 'voided'! | | | | may trust these people you work with, but knowing for |
| 3. Purchase a Deposit Ticket Book. If you're not using | | | | sure can save you a lot of time. |
| a deposit ticket book, you're probably having problems | | | | Resist the urge to go paperless and keep information |
| handling your bank deposits - or, you're doing it in a | | | | only stored online. Having it in paper is solid, |
| way that's harder then it needs to be. Most of the | | | | unchangeable, and makes a world of difference. |
| books comes with 50 top copy's and 50 bottom | | | | 6. Keep Good Records. Duh! This one is the most |
| copy's - the white top copy is the original that you give | | | | obvious on the list, but constantly needs to be |
| to your bank, and the bottom yellow copy is what you | | | | repeated! Keeping good records of your businesses |
| keep for your records. Nothing gets lost, and a small | | | | financial dealings does make a difference. |
| order of 200 deposit tickets could easily last you 2 | | | | Bookkeeping should be a top priority for you, no matter |
| years or more, depending on how often you make | | | | if you're afraid of what the numbers are telling you or |
| deposits. | | | | not. Solid bookkeeping is like the glue that holds your |
| 4. Consistency is Key. This should be a no brainer, but | | | | business together. You just won't get very far without |
| many people like to switch things up and try something | | | | it! |
| new. With this, you lose money by wasting time. When | | | | |