Maintain your old Siemens Hipath system

Top 10 Record Keeping Mistakes Business Owners Make (and How To Avoid Them)

If you interviewed business owners of failed businesses, a majority will tell you that they didn't understand or feel comfortable dealing with the "book work". Your ability to understand and perform day to day accounting tasks in your small business is a critical success factor. Here are some tips to help you avoid the most common mistakes business owners make.

Top 10 Record Keeping Mistakes Business Owners Make

1. Not having a record keeping system set up (the shoebox approach)

2. Procrastinating on invoicing customers

3. Sticking checks in a drawer and forgetting to deposit them

4. Not tracking carefully which customers have paid

5. Not tracking invoices that are overdue

6. Not following up to make sure overdue invoices get paid

7. Putting "book work" at the bottom of priority list

8. Sloppiness-not recording checks, recording the wrong amount, etc.

9. Abdicating all responsibility-"I have 'people' to handle that."

10. Creating an embezzlement friendly atmosphere-"I have 'people' to handle that whom I trust completely."

How to Do It the Right Way So You Only Have to Do It Once

? Set up an accounting system that works for you
? If you don't have accounting experience get help from an expert
? Schedule time each day or week to take care of "book work"
? Don't procrastinate or move it to the bottom of the pile
? If you outsource or hire an employee to perform tasks, follow up to make sure things are happening as they should

The way you handle record keeping in your business helps to determine whether you have a healthy cash flow or you're always on the edge of financial disaster.

Caroline Jordan is a small business mentor and consultant helping small business owners understand, diagnose, and improve cash flow in their businesses. For more information and resources to improve cash flow visit http://www.TheJordanResult.com/mastering.html.

In The News:

170 migrants feared dead in Mediterranean sinkings
Sat, 19 Jan 2019 16:01:00 +0000
Up to 170 migrants are feared dead after two accidents in which dinghies sank in the Mediterranean after leaving North Africa for Europe.

'Hostage-taking': Democrats reject Trump's offer to end shutdown
Sat, 19 Jan 2019 20:59:00 +0000
Donald Trump has offered to extend temporary protection for people brought to the US illegally as children in a bid to end the government shutdown.

Fire kills two in ski resort popular with Brits
Sun, 20 Jan 2019 09:58:00 +0000
Two people have been killed after a large fire broke out in the upmarket French ski resort of Courchevel.

Bomb blast at military checkpoint in Damascus
Sun, 20 Jan 2019 08:15:00 +0000
A bomb has exploded outside a military checkpoint in the Syrian capital Damascus.

'Syria's children are its future but it's they who have suffered most'
Sat, 19 Jan 2019 14:35:00 +0000
Hamish de Bretton-Gordon is a chemical weapons expert and formerly an officer in the British Army commanding the UK's regiment to deal with chemical weapons defence regiment.



tikatoshop.it

Erfahrungen mit Pallhuber Wein
Agen Bola SBOBET Terpercaya

Travel in comfort and at your leisure with CT Airlink Limousine & Car Service for top quality private transportation and exceptional customer service. We operate Sedans, SUVs & Vans for CT Car Services to covering all Connecticut airports including Car Service from CT to Newark Airport , Mohegan Casino Uncasville CT, Foxwoods Casino Mashantucket CT, Manhattan Cruise Terminal NYC, Brooklyn Cruise Terminal NYC and Bayonne Cruise Terminal NJ. CT Airlink hire licensed and friendly chauffeurs who have in-depth knowledge of the Areas.

Maintaining Your Carpet Extractor in Your Auto Detail Shop

Auto Detailing: Maintaining A Commercial Carpet ExtractorYou should drain your... Read More

Start a Technical Writing Service

Technical writing services are employed to explain the details of... Read More

What Is YOUR Value Proposition?

Every company has a value proposition. That is a statement... Read More

Accounting and Billing Procedures for Small Business

No matter how small your small business is, it is... Read More

Electronic Franchise Disclosure and E-Signature Future for Investors

It has been discussed allowing Franchising companies to electronically disclose... Read More

Solving the Late Paying Customer Blues

Nothing can drive a business down faster than customers who... Read More

Conquering Confidence Killers for Small Business Success

"The way to develop self-confidence is to do the thing... Read More

Blowing Your Own Horn ? A Key Marketing Strategy for Small Business

-- Building Credibility Through Success Stories --Successful solo entrepreneurs spend... Read More

The Workers? Compensation Situation in this Country is Nuts, Arnold in CA Takes Action

The Workers' Compensation situation in this country is unbelievable. Why,... Read More

The 5 Habits of Highly Successful Small-Business Owners

Have you ever wondered what the difference is between a... Read More

Q and A: Personalized Birthday Cards from Paul Leonard

Paul Leonard's BirthdayCards2Go.com paid greeting card service offers convenience when... Read More

How to Become Successful in the Field of Financial Consultants

Financial Consultants are one of the fastest growing industries today.... Read More

A Business Plan Is Not Worth A Cracker To A Struggling Business - A Plans The Last Thing It Needs

Before you start a business we encourage you to prepare... Read More

Mission Statements: More Important Than You Thought

If an organization lacks a mission statement, it is worthwhile... Read More

Bringing Home the Bacon

In general, all of us know how to accomplish the... Read More

Mini-Blind Cleaning Business, Case Study

Sometimes the simple businesses are the ones, which make good... Read More

Mobile Detailing Environmental Concern in the Deep South

Macon, GA goes after garage-gas station conversion detail/hand car washes... Read More

9 Things You Must Do To Maximize Your Chances Of Obtaining A Small Business Loan

To get approval for your small business loan application, you... Read More

Tracking Revenue For MORE Profits

The revenue history is a vital piece of your power... Read More

How to Effectively Design Your Business Image

In many industries, image is one of the last things... Read More

11 Things Small Business Owners Can Learn From Rudolph The Red-Nosed Reindeer

1. Everyone Makes A Difference ? Despite not letting him... Read More

Essex Accountant: Accountancy Firm MVP for Your UK Business?

Most business owners know when they need an accountant, but... Read More

Pet Grooming Business

Do you like animals? Would you like to work for... Read More

The Hidden Treasure in Your Business

I started working with another new client last week. He... Read More

Fleet Washing Operations Manual Sample Outline

In the Truck Washing Business every single type of vehicle... Read More