Just a Few Tips

I definitely don't remember everything that I read. Now, I typically remember that I read/saw it somewhere the next time that I see it. However, reminders tend to help me, so I thought that, while we've passed on these tips before, I would write them up again and hopefully spark some old memories.

The Tips:

  • Keep accurate records and do soon as soon as possible. i.e. don't wait to record things.
  • File your receipts (preferably in a digital format and backed up off-site).
  • Make sure that you're collecting the appropriate taxes and that your tax rates are up to date.
  • Make sure that invoices are accurate, updated, and sent out on time.
  • Schedule a time to review the Profit and Loss statement (actually put this on the calendar) on a monthly, quarterly, and yearly basis. The P & L statement is great way to check in on the health of the company.

What to remember: It's easy to forget things, so for those important ideas, write them down and either set a reminder to review them regularly or, better yet, put them in a place that you'll see them every day.