Small Business Accounting In Waukesha | Edith Christian

Here are 5 tips for small business owners.

1. Budget your spending. Hyder says the best way to run your small business is to know how much money you need to make in order to break even and how much you have to spend to run your business on a daily basis. Separate your business budget into 4 categories:
i) prospective income
ii) fixed expenses
iii) variable expenses
iv) paycheque-allowance
The key to financial discipline is realistic balancing of needs versus wants.
2. Don't Spend. Invest. Spend your hard-earned money on things that will reap long-term benefits. Every expense has two faces: current benefits and long-term benefits. Businesses that spend on a long-term investment nature reap its benefits much longer. But remember to balance the cost versus the benefit. If your expense doesn't directly help you in increasing your business or quality of your work, don’t spend on it.
3. Maintain Records. Keep all receipts, organized, in a safe place where you will be able to find them when you need them. The top four reasons for lost records are:
i) They simply weren't kept.
ii) They were kept but are so disorganized you can't make sense of them.
iii) They were kept very organized but got washed or destroyed.
iv) They were kept safely and organized in a place but you can't find them. Spend a few minutes a day to organize your documents and avoid losing anything.

Don’t squander away your precious time by struggling with complicated IRS forms and complex bookkeeping chores. You can get fast and effective solutions to all of your tax and accounting affairs when you employ Edith I Christian, CPA. We know how stressful your life can be. But when you call on us, you can relax a little bit. Our professionalism, integrity and trusty service make your life less taxing. Plus, we focus on delivering peerless customer service to ensure the satisfaction of every single client. Our name is indelibly linked with characteristics such as honesty, reliability and outright excellence. You can count on us! Are you ready for more information? Call today 262-646-2008