October is a good time to take a fresh look at your bookkeeping before the year gets away from you.
Your bookkeeping should do more than tell you what happened last month. It should help you answer important questions about your business today:
How much money do I really have available?
- What bills are coming due?
- Who owes me money?
- Where am I spending the most?
- How much money am I making?
- What might my cash flow look like over the next few months?
One thing we see often is the confusion between profit and cash. Your business can show a profit and still have a cash shortage. That’s why understanding your working cash and what’s coming in and going out is so important.
A Quick October Bookkeeping Checkup
Before the end of the month, take a few minutes to check:
- Are your bank transactions up to date?
- Have you reconciled your accounts?
- Are there unpaid customer invoices?
- Do you know what bills are coming up?
- Are there transactions you’re unsure how to categorize?
- Do your books give you information you can actually use?
If you found a few things that need attention, don’t panic. There is still plenty of time to get organized before year-end.
Want to See an Easier Way?
You don’t need an accounting degree to understand your business numbers. You need a bookkeeping system that makes sense and gives you useful information.
That’s one of the reasons we created Big E-Z Books+.
We’ve also created an interactive demo so you can click through the system and see how it works for yourself. You can explore it at your own pace without scheduling a call.
Explore the Big E-Z Books+ Interactive Demo
Questions? Reach out to us here.
