- Check fraud is a reality, so make sure that you keep your company's checkbooks in a secure location. Create monetary limits for checks, set-up a special account for paychecks and keep all other checks made out to business and not individuals.
- Making sure to keep up-to-date records of all of your financial activities is important. This includes, paying bills, payroll, expenses, and profits. This information is required in order to properly file taxes and can cut accounting costs at tax time.
- Checking all your billing statements should be routine. Often times spotting extra, hidden or incorrect charges soon after they happen may help resolve issues that cost you extra money for nothing.
- While looking at your statements or invoices, it's a great time to review the expense of doing business. If you appear to be spending too much money in one area, you may wish to find cheaper, more cost effective alternatives.
- If you find yourself too busy to balance your own financial records, then you should not hesitate to hire an accounting professional to help you keep track of your transactions.
- An accounting professional can be your greatest asset while doing business. Accounting professionals have access to information and knowledge to help you make the best decisions for your business. This will help you stay on top of your financials while still being able