Every dollar counts when it comes to small businesses. Luckily, there are a lot of quick and easy ways to reduce spending and prevent or overcome hard financial situations.
The entrepreneurial spirit that has taken hold of today’s workforce has led to many people jumping into self-employment, freelancing, and gig work. Unfortunately, being an expert in the products or services you provide does not make you an expert in managing business and personal finances. Many sole proprietorships and individual freelancers are lost when it comes to the related financial matters.
Owning and running a business can be stressful enough as it is. Unfortunately, the holidays can take that stress to the next level. A little careful planning, however, can keep things running smoothly over the holidays and help ensure that your company takes advantage of the busy season.
If you run a small business, managing your finances is one of your most important tasks. Fortunately, there are many fine software tools available that can help you do just this. Here are five finance tools your small business should make use of.
There is a distinct correlation between employees being satisfied with their job and the benefits that job offers. Employers that offer benefits (whether they be medical, dental, or vision insurance) can expect that their employees will be generally happier at work.
Owning and operating a small business is no easy feat. There are many responsibilities on your shoulders. One of the most important responsibilities is managing the finances. Without proper management of the finances, your business will quickly go under. One way to help keep track of spending is through the careful use of business checks. Instead of using cash all of the time, you can use checks to monitor where the money goes for each purchase.
Here at checkworks.com, we offer various styles of checks to help you operate your small business. With duplicate checks, you can have a written record of the exact check you wrote, which makes it much easier during tax season to claim your expenses. The use of our checks will also help you develop good habits. Making it a habit to use a checkbook instead of swiping your credit card will help prevent those impulse purchases — the kind of purchases that can wreak havoc on your business’s bottom line.
We also offer detailed registers for writing down important information after every purchase. These registers are a great way to back up the information you already have from the duplicate check. With a register, you have all of the expenses in one convenient location, which makes it much easier to balance your checkbook at the end of each month. Between the duplicate checks and the registers, you should have no trouble managing the finances of your small business.
Here are a few tips to keep in mind when writing checks:
- Always record each purchase in the register at the time of the purchase. Don’t rely solely on the duplicate checks to keep track of your purchases. Instead, use the register and the duplicate checks together to ensure that all purchases are monitored.
- Make sure anyone with access to the business finances remembers to use checks, too. This means if you send your spouse out to buy some office supplies, give him/her a quick reminder to write the check and record the purchase.
- Balance your checkbook at the end of each month. Make sure every purchase is accounted for, and if you notice any discrepancies, contact your bank for more help.
Contact us today at checkworks.com to order a box of checks for your small business, and start managing those finances the right way.