The Basics of Business Record Keeping

Written by Kate Smalley


Continued from page 1

Documentrepparttar money that your small business spends in a cash disbursements journal. It should have columns forrepparttar 103228 various expenditures that your small business may have with a line for each expenditure, including description of expense, date, payee, check number and total amount.

Double-Entry Bookkeeping As your business grows, you may need to adopt a double-entry bookkeeping system. This system provides more information to paint a more complete picture of your business at any particular point in time. This information may include available cash on hand, accounts payable, utilities, loans, etc.

Your small business should use a double-entry bookkeeping system if has significant accounts receivable, accounts payable, equipment that depreciates or inventory. If your business will meet any of these, you should select a double-entry system fromrepparttar 103229 start. You'll use journals and ledgers to record information that reflect your business transactions.

Each transaction will be recorded twice, meaningrepparttar 103230 system will balance itself out. For example, if you make a loan payment, you will decreaserepparttar 103231 cash amount in your cash account and increaserepparttar 103232 exact amount inrepparttar 103233 expense account.

What Type of Records To Keep The type of business you operate generally affectsrepparttar 103234 type of records you need to keep for federal tax purposes. You'll need supporting documents to capture important details, such as your receipts, purchases, expenses, assets.

Here are some other basic record keeping tips to keep in mind: "Daily business records arerepparttar 103235 best "Identify source of receipts "Record expenses when they occur "Keep complete records on all assets

Remember, good record keeping is essential torepparttar 103236 financial survival of your business. So takerepparttar 103237 time to keep good records, so you can run your business successfully - instead of it running you.



Copyright 2005 Kate Smalley, Connecticut Secretary Freelance Secretarial and Transcription Services http://www.connecticutsecretary.com kms@connecticutsecretary.com


Keeping The Flame Alive

Written by Arthur Cooper


Continued from page 1

But it may be doing your existing job differently or better.

It may be that fundamentally you could like your job if only you could rekindlerepparttar early flame of enthusiasm, dynamism, and interest that you once had. You need to become re- motivated.

Look at your job. Think about it. What do you like? What do you dislike? What can you change? What can you improve? Whom can you influence to bring about improvements and change?

Have a dream, a vision, in your head of how you would like your job to be. Think of ways to achieve that dream starting from where you are now. Always keep onrepparttar 103227 lookout for ways to do things quicker or better. Draw up a list of improvements and changes to be made and write it down. Little things. Sometimes bigger things. Everything.

Then pick something small from your list and get it done. The next day pick something else, and get it done. Each day pick a new item from your list, and do it. Each day and every day. Cross ofrepparttar 103228 completed items, and keeprepparttar 103229 list with your crossed off achievements showing. Look at it each day. Seerepparttar 103230 progress you are making. Feel your goal getting closer every day. Remind yourself why you are doing it.

If you do this on a regular basis you will make improvements. It is certain. You will seerepparttar 103231 progress. You will be enthused byrepparttar 103232 progress you have made. You will be proud of what you have achieved. You will be motivated to achieve still more.

Therein lies job satisfaction and happiness at work.

Be happy. Stay happy.

Arthur Cooper is a business consultant, writer and publisher. For his mini-course ‘Better Management’ go to: http://www.barrel-publishing.com/better_management.shtml


    <Back to Page 1
 
ImproveHomeLife.com © 2005
Terms of Use