All tagged financial records

KEEPING YOUR RECEIPTS (SENSIBLY) SAVES YOU CASH

The admin of running your business can seriously take the fun out of being in business unless you are careful. Obviously getting paid is the biggest pain, and next? Well I reckon keeping track of your receipts. At the end of the week there they are stuffed in your wallet, in the footwell of the car, in pockets of your jacket – and if you don’t get a system to record and file them you will lose cash. You can’t claim an expense on your tax return without a supporting “voucher”.

GOOD DOCUMENTATION SAVES CASH

January can be a pretty tough month for trading after the hump of Christmas – unless you happen to be a fitness coach or selling diet supplements…so as well as reviewing your marketing plans, use the time to make sure you have all your business arrangements properly documented. In my experience more cash is lost because of unclear and undocumented business arrangements than any other reason.