I hope by now you’ve discovered that keeping your bookkeeping in a shoebox is not the answer. Neither is Excel, Word or Quicken. If you own a business and have assets, QuickBooks or something similar such as Peachtree Accounting is the way to go.
But don’t let the commercials fool you into thinking you can do it all yourself.
I speak with too many small business owners who have gotten themselves into a mess trying to do it all. Although it’s pretty simple to maintain your books (I use QuickBooks), it’s critical that you hire an accountant (who knows your software) to set it up right in the first place…and show you how to do the everyday work.
Did you learn your lesson the hard way? Have you dug yourself out of a hole and have lessons to share? Let’s get this conversation started.
Seems obvious. But everyone is so busy. Tornados, hurricanes, floods and a major power surge–any of these can mean real trouble for a small business.
2. Keep vital documents in a portable box. Include:
3. Develop a standard process of data back-ups. At a minimum–everything monthly. Financial data–at least weekly.
4. Establish an off-site storage location for a monthly set of back-up drives. This can be a bank safe deposit box or even an attorney in another state. This is a small cost for peace of mind.
5. Resources to help you get started:
Be sure to keep emergency phone numbers and emergency cash available in that portable box. Your ability to close your office and walk with a box of vital documents & data files–can mean the difference in getting a speedy insurance settlement & in quickly reestablishing operations. Act now.