- Enter every business transaction into either a spreadsheet or software like quickbooks. Simply keep receipts somewhere accessible for 7 years. If you run a paperless life, BACKUP your data OFTEN. Recreating a years’ financials can be crippling but if you keep good records and receipts you will be in great shape.
- Invoice clients/customers. Create a filing system for clients and customers and keep records of all correspondence, services performed, and billing information.
- Make cash deposits.
- Run a weekly cash flow report and check that your data entries and filing are complete.
- Run Accounts payable.
- Run Accounts receivable.
- Check for overdo’s
- Monthly bookkeeping – gather additional last minute receipts and bank statements and credit card statements to enter into software or spreadsheets.
- Reconcile – Reconciliations are imperative to ensure there are no errors and all data is included.
- Sales tax, employee payroll tax, income tax
- review and print financial reports, utilize your software.
Create a folder on your desktop or somewhere on your computer to file documents and separate things by year. Statements, invoices, TAX DOCS, etc… Create folders within the folder to separate items.
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