Tax time is usually the time when most small business owners think about their bookkeeping system. All year they have been collecting receipts in a drawer and it isn't until about a month before the tax accountant calls that they think... "Uh oh, I have to get my books in order so I can get my taxes done!" This is also the time of year when I'm asked to help someone set up a system for the bookkeeping and help them organize their work because they don't want to "go through this again next year".
Have you said any of these before?
- I’ve changed bookkeepers five times in the last three years
- I just can’t seem to get what I need
- Bookkeepers are all the same
There are three major cash flow activities in each business. These consist of Operating, Financing and Investing. You’ve heard these terms before, but you’re not clear about how they appear in your small business. After all, you don’t have investments and you’re running your business with credit cards and a small line of credit.