Know Your Numbers | Sand Dollar Bookkeeping

A new year is a time of change, resetting and fresh starts. It is also the best time to decide to ‘do better,’ when it comes to your business’ finances and bookkeeping. How do you make business decisions without sound financial data? How about a resolution to Know Your Numbers in 2024? Not sure where to start? Check out these tips:

Start in January. Make a New Year’s Resolution for your business to get organized. Begin 2024 right with implementing systems, workflows, and best practices. Get organized by using a program like QuickBooks Online that will keep your financial data in one place. It is user-friendly. cloud-based, and even has an integrated receipt manager function for all those pesky paper receipts. If DIY-ing is not for you, outsource to a bookkeeper (like me).

Keep your business and personal separate. This is my #1 tip to all business owners. You need a checking account that manages your business’ finances ONLY. Commingling funds can cause a myriad of issues and headaches.

Reconcile your accounts monthly. Another reason QuickBooks Online is my preferred program is because you can sync bank and credit card accounts which help immensely with managing your finances. But you still must reconcile MONTHLY and consistently. If you know you will not keep up with it, you can again outsource that function. I have clients who do their day-to-day bookkeeping themselves. Still, my firm performs the reconciliations, month end adjustments, and answers questions.

Download my free resources. Who doesn’t love free help? Check out my FREEBIE LIBRARY with amazing tips and resources to Know Your Numbers better.

Are you a DIY-ER but need some sort of help? Check out our NEWEST service offering for those who are still DIY-ing their books: the Profit Partner Program. You can have a bookkeeping and accounting accountability partner all year long!