Behind a business, both large and small, financial accounting is one thing that must be done. If you are only able to make simple bookkeeping is not a problem. Bookkeeping is one of the most important tasks that business owners often forget. Usually, they only focus on how to get their products or services sold and known to many people. Not to mention, not all entrepreneurs have a background in accounting. What not many people know, from this bookkeeping, you can see the financial condition of the business, profits, losses, etc. in the company.
But, not making and forgetting bookkeeping, you are giving a big risk such as cheating in finance, not being able to make decisions properly, until it is difficult to get investors in the future. So, from now on try to start making simple bookkeeping to reduce the risk. Follow the steps below to start making simple business bookkeeping.
Make Special Notes for Expenditure Transactions
When starting a business, you must have a record of how much has been spent on the business. Try to keep a record of every capital spent, so you know clearly how much capital is spent, and have a target for how long the capital should be returned. This special note can begin with an expense transaction to purchase items as small as a clip to large items that meet the stock sales in the warehouse.
Make Special Notes for Import Transactions
In addition to having a record of expenses, you must also have a record of income. Try to make note of the amount of income in each day so that you know how much profit is gained in one day. And both of those notes can be made as a reference in making monthly bookkeeping for your business. With a record of income and expenditure transactions, you can simplify work at the end of the month.
Make Estimates of Cash Flow
In managing business money, you must be able to determine a budget for incoming and outgoing money. Then, you can estimate cash flow. Why is making cash flow estimates so important? This is to know the plan for when the money comes in and how much, know the estimated cost of money out, can find out the advantages and disadvantages of cash. If the estimated cash flow is lacking, you can anticipate how to increase sales or reduce expenses. Recording cash flow and reporting must be done carefully and thoroughly. From this cash flow record you can find out the amount of the company’s budget, especially for making sales plans and strategies.
Make Stock Notes
Not only financial transactions must have records, but goods in and out must also have records. That way, you can oversee the daily business operations. You can find out how many items enter and exit each day. This is done to avoid fraud that can be done by suppliers or your employees. If in the future the company targets to have several branches in other cities, this book will be very helpful in arranging warehouse management to be more controlled.