Make it a habit!
Make a complete record of the finances, be it cash flow (cash in / out), turnover records daily, weekly and monthly, purchase records of your business. No matter how small your business you’ve started, prepare the recording well, so that if one day it becomes a big business, you are already familiar, for additional loans you can get in the overnight cash lenders.
Actually, in addition to the above reasons, financial records are needed to measure performance and your targets are already achieved or not. Many small businesses go bankrupt when in fact the potential to be great, just because of the financial records of this effort.
One drawback is the small and medium businesses similar financial soalmanajeman. Yes, matter of arranging finance this business to a very complicated problem for entrepreneurs and business owners.
Is it difficult to register and regulate business finance? Can ya, can not. But all must start, even with the simplest way.
Here are 5 simple tips to manage finance your small business:
Separate Business and Personal Cash Money
It’s at number one because this is very important. Most small business bankruptcy culprit for not doing this financial separation. It is not clear where the money for a business, where money for personal purposes. Mixed up abysmally. SEPARATE! once again SEPARATE!
Take a salary from the profits of your own business for personal use. If not afford big salaries, so small is also not okay, as long as recorded. If not able to as well, ya snooze pleasure, tighten the belt to work on your business without pay!
Often small businesses do not separate personal finances with business finances. The reason is because his business is still small, so it is not complex. But this is a fatal mistake. So for two separate accounts, if you need a cash injection to take a certain percentage of the capital. Because when you buy your individual needs with the money business, so unconsciously cash in your business will be eroded and depleted.
Take advantage of 3rd party or Use Software
Use employee or a 3rd party to help do your small business financial records. Invest in HR. Or Even if that’s not possible, use software to manage your finances. In the market a lot of simple financial management software for small businesses for sale. The price also varies according to the needs. It saves more time and work than to hire an accountant. Or if you can not also, do simple recording in a separate book or you can use the Excel.
Okay, what the hell that need to be recorded in the financial management in a simple small business?
Is actually very simple and easy anyway as long as we want to do. Things you need to prepare at least have 5 books of account or a passbook or languages easily separate note book which records each transaction. What are they?
- The Book of Cash Flows or the cash book
Notes out of money in real terms. It contained only records of money in and out of it. From any post. This is the first. Simply put, it is know as create cash book. Money, money coming out and balances. SIMPLE!
- Book Inventory
Notes for each increment of incoming goods for purchase on any suppliers we are doing and because goods sold reduced. It is also very SIMPLE!
- Buying and Selling Books
Note the money out for the purchase of goods that we do. Value rupiah. Record the value of rupiah each of us make purchases of goods to the supplier. Also take note of the money goes for sale. This book can also be a summary of the cash book, but special purchases and sales only. Collect data from daily cash books, insert it into the book. With this book, we can monitor how much buying and how much sales (turnover), and the difference directly into gross income before deducting expenses.
- Book Debt
If this does usually already have. yes write down your debts and receivables customers to the supplier.
- User fees and other income apart from the sale of goods / services we
Note fees and other revenue to be collected in an account / separate book. It is important to get the data net income. the costs such as electricity, telephone, etc. beggars. While other income such as selling the old cardboard, parking etc.
Actually no. because this should be done. if still confused, buy books introductory accounting, or taking a course in basic accounting, or use software or hire employees who understand accounting.
Or, use my way: I study accounting at a friend who happened to college in accounting. I ask for help are taught the basics, and then ask the system made use excel, I lived enter the data was in accordance post-his post, and small business financial statements mine neat, stayed evaluated.