Blog

Once you set up your books properly, it becomes time to keep up with the cash that flows in and out of your business. When we say “keep up” with your books, we actually mean that you need to trace each and every step. Business can move quickly and your bookkeeping needs to catch it all. But, what exactly should you be keeping up with? 

Transactions

This should go without saying! You must keep up with logging where your money goes, as well as where it comes from. In simple terms: your company’s sales and purchases. A single missing entry will throw your books off balance entirely. Consider downloading the mobile app so you can add entries on-the-go, setting up journal entry automation, and reconciling on a weekly basis. 

<

Now that you have set up and cleaned up your books, now you need to keep up with them! Staying on top of your bookkeeping is the only way to ensure their accuracy, timeliness, and value. The day-to-day ins and outs of your business add up to the bigger picture - If you don’t keep up with the daily financials, you won’t be able to form a clear picture of your company’s overall health and future. Below are just a few of the things you should keep up with when it comes to your bookkeeping. 

Know your cash flow like the back of your hand. 

It’s vital to know where your company’s money is going and where it’s coming from. You should have an idea of your cash flow and how much cash you have available on a daily basis