DIY BOOKKEEPING

Take Control of Your Business

Bookkeeping is the single most important function in your business. You can have a great

product and service but in order to understand your business, you have to look and the financial reports.

This course will help you get it right, from understanding the fundamental

aspect of bookkeeping - your chart of accounts, to learning how to categorize all the different types of financial transactions.

The #1 reason why small businesses fail is due to finances, and it is not

necessarily because they don't make enough, but because of poor financial management. Here are five reasons why bookkeeping is key to the survival of your business:

1. Financial management - when you have a clear picture of what goes in or out, you are better equipped to manage you priorities, expectations and financial resources all together.
2. Understand your business - you will have an intimate knowledge of your business and model and you can make more informed decisions regarding your business.
3. Planning, analysis and decision making - whether it is budgeting, forecasting or cash flow planning, financial reports will give you the ability to become a proactive leader. Analyze your statements, plan and make better decisions for your business.
4. Review performance - because the only way to really know how you are doing in business is by looking at the financial reports.
5. Compliance - having a trail of all your financial transaction will prepare you for any potential audit and you will have all the reports you need to stay compliant with you local and federal government.