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Simple Bookkeeping Tips For Entrepreneurs

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Bookkeeping Tips

Always ensure that you have all the bank and credit card statements, profit and loss statements, balance sheets, receipts and invoices for sales and services rendered by the business. This will enable you to establish a good financial ground for your business even when it expands.

Bookkeeping Tips

If you have too many cooks in the kitchen, sometimes things get done twice. You end up with a lot of confusion about where one person’s job ends and where the other begins. That will help clarify the expectation and create accountability. Staying on top of the admin will alleviate stress, a much-needed relief for most business owners, and prepare you for those unexpected surprises that are around every corner.

#7 Understand Your Bookkeeping Reports

Many Canadian banks currently offer cheap business accounts, where for just $5 per month, you have enough to start, and you can upgrade your account when your business grows. Blake Bobit has been an entrepreneur and business owner for over 25 years. He founded Solution Scout to provide the most helpful answers to questions about business solutions. Blake provides strategic advisory services to businesses in many industries nationwide and is passionate about helping others reach new levels of success. While business owners are accustomed to having to wear many hats, there is a point beyond which no amount of persistence or enthusiasm will help, especially when it comes to bookkeeping. Most bookkeeping services will have a deadline to send the previous month’s reports (example by mid-February they send the January statements).

  • Bookkeeping software helps you prepare these financial reports, many in real-time.
  • First, that’s the only way you can get a real sense for your company’s financial health.
  • Keeping your records up-to-date is essential to running your business.
  • When you track and categorize your expenses and revenue streams, you and your financial advisors will be able to identify different areas of strength or growth based on historical data.
  • For example, many business expenses, like store or office rent, are tax-deductible.

This way, you can correct mistakes before they start costing you serious money. Also, you’ll likely get cheaper rates since many services are looking to maintain consistent income during their off-season. Making sure that your financial records are backed up in the event of a natural disaster or cyberattack are key to keeping your business running smoothly. If you lose your records, you might not be able to take advantage of some important tax deductions. By recognizing the bookkeeping tips above, your business can rest assured that the books will no longer be a massive burden to bear.

Separate Your Personal And Business Bank Accounts

It would help if you considered organizing all your paper records with proper labelling and using different sorting strategies. Whatever your business, there will always be the possibility of a piece of equipment needing to be replaced, a large inventory order, or some other big-ticket purchase. Planning for major expenses enables you to meet them without panic and with sufficient means to comfortably cover them without having to divert funds from other areas of your business.

  • A cloud-based bookkeeping system can also save physical space—a significant benefit when considering the IRS recommends businesses store financial records for at least 3 years.
  • From the cash you have on hand to the debts you owe, understanding the state of your business’s finances means you can make better decisions and plan for the future.
  • Whether it’s on a company credit card, debit account, by cheque or a cash payment, keep a record of those transactions.
  • Quick, regular audits of your documentation and transactions will ensure that you’ll never have a stressful night’s sleep—at least as far as your books are concerned.
  • This may influence which products we review and write about , but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research.

Some entrepreneurs believe that once they’ve sent out an invoice, they’ve taken care of billing. “Every late payment is an interest-free loan and hurts your cash flow.” Additionally, Mari says, routinely jot down business trips, lunches, coffee dates and other events with cash outlays in your electronic or paper day planner. This habit can go a long way toward substantiating those items for your tax records in the event of an audit. But when you don’t have a system and some processes in place, unpleasant surprises can pop up, goals can be easily missed and important paperwork forgotten. Getting a better handle on your money can help you to make and keep long-term goals, smooth out the seasonal ups and downs of your cash flow and maybe improve your profits.

An accountant will provide you with information about your financial status anytime you want it. A professional accountant makes sure that all the information and data you have is accurate and can generate interim reports for you. When you sign-up with Bench, you’ll get an easy-to-use platform and direct access to your in-house small business bookkeeping team. The return on investment with a dedicated bookkeeper may surprise you. Plus, when tax season rolls around, you can take comfort in knowing your financials are 100% correct and ready to be handed off to your accountant. If you don’t carry a receipt book with you everywhere you go, you can always rely on technology. Keep track of your cash using cloud software that links through multiple devices, like your phone or laptop.

Business Resources

Running a business is an exciting, but demanding opportunity. As an owner, you are responsible for ensuring that your financial records are complete and accurate. If you need help keeping your records up-to-date, the specialists at Valley Business Centre offer quality bookkeeping and payroll services. Staying on top of your accounts receivable will help the cash flow of your business. Customer who pay late can drag a business down, making it difficult to pay bills. By monitoring your accounts receivable, you can address slow-paying customers before they become collection problems. In some cases, you may need to work out a payment arrangement.

When you keep accurate records and track your data, you’ll have a better idea as to your upcoming tax obligations. You can set aside the money for your tax obligations a little at a time or file a timely extension request. If you can tolerate the missed dinners, late nights, and lack of sleep, your dedication will surely help you cut expenses and accumulate cash. Instead of paying professionals to do your https://www.bookstime.com/ small business bookkeeping, you can put your money to work buying products and materials and paying your workers to produce more goods to sell. Eventually, the money you save will help your business grow a little at a time. However, it is advisable to consult a trained accountant before buying any accounting software. This is due to the fact that some are very complicated and might be difficult to use.

Bookkeeping Tips

Some software packages integrate with bookkeeping software, making your payroll process even more efficient. Most credit card statements categorize your expenses, so you can see where your money went.

Engage In Disaster And Data Recovery Planning

You will enjoy a more streamlined record-keeping process due to identifying taxable benefits and deductions quicker and more efficiently. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, financial or accounting advice. You should consult your own accounting advisors before engaging in any financial transaction. By entering your email to be included on Fundid’s waitlist, you are under no obligation to obtain any products or services from Fundid. Full terms and conditions will be provided at the time of account opening. Fundid is driven by a mission to empower business owners on their growth journeys by simplifying business finance and access to capital. Fundid is driven by a mission to empower business owners on their growth journeys by simplifying business finance & access to capital.

You don’t schedule that physical because you’re aware of some pressing issue. Your doctor will take a look at a few things, ask probing questions, then notice some areas for improvement. They might ask you to exercise a little bit more, start taking iron supplements, or keep a close eye on how your throat feels. But taking stock of things helps them figure out what you need to adjust, and from there, they can create a game plan to improve your overall health. GoCardless is authorised by the Financial Conduct Authority under the Payment Services Regulations 2017, registration number , for the provision of payment services. New projects, budget for the year ahead, and determine whether clients have paid invoices. When it comes to youraccounts receivablesand collections, when getting financing throughinvoice factoringat Liquid Capital, our team will also take care of that portion for you.

5) Establish business credibility and professionalism – You always want to ensure your business is credible in the eyes of the public, lenders, creditors, and everyone else. Keeping personal and business accounts separate demonstrates that you can be trusted by suppliers and clients.

Build Accounting Into Your Work Schedule

Now, even a small error or oversight can impact your P&Ls,Income Statement, revenue projects — and snowball into a big end-of-year mistake that affects your payroll and taxes. So save your money, time and maybe even some gray hair by establishing an easy-to-follow bookkeeping process. If you’re not using the Business Toolkit you’ll need to make sure that all your bank transactions are reflected in your bookkeeping system. Match the transactions to the necessary invoices, bills and receipts . While it’s not fun to hold onto every little receipt and track all transactions, you will be making things easier for your business. It will also benefit your business once tax time rolls around.

This reconciliation is how they know that all the transactions have been recorded at the proper amount. With a separate business account, you can maintain accurate records and prevent spending excess time identifying and removing personal expenses from your financial reports. All of your incoming payments and outgoing expenses are easily recorded in one place. This creates a more efficient accounting process, particularly when tax season rolls around. Plus, by opening separate accounts, your personal assets are protected in the event of an audit or lawsuit. One of the most important bookkeeping tips to ensure accurate and easy-to-process expense reports is to separate your business finances from your personal finances. If you haven’t already, consider opening a separate bank and credit card account for your small business, rather than operating out of your personal accounts.

But you should also consider putting away a little something when you can, to build a fund for those unexpected events. It’s no doubt that cash flow can be a problem for small businesses. Similarly, an accurate representation Bookkeeping Tips of your current bookkeeping will allow you to forecast realistic financial goals for your business to hit over the next quarter or year. Here are ten tips to make small business bookkeeping easier.

Even if you have a bookkeeper tracking your finances, you must still know what’s going on with your money. As your business grows, it may be time to hire a service to manage your books. If you’re considering this route, check with other business owners for recommendations on the services they use. Many applications connect with your business’s checking account so you don’t have to manually record entries. Whether you are an independent contractor or a multinational corporation, bookkeeping is important to you. With a budget, you are better equipped to plan for future expenses.

Separate Income And Non

Paper documents are often cumbersome, messy, and inconvenient. The longer you’re in business, the more storage space you need to accommodate your snail mail invoices, bills, and other documents. Paper is also easily destroyed by water, fire, and other hazards. When you digitize your records, you can save space and synchronize bills, invoices, and receipts with your digitized bookkeeping accounts.

  • If you’re considering this route, check with other business owners for recommendations on the services they use.
  • If you know you’re likely to put it off, push it to the top of your to-do list and get it done first thing in the morning.
  • Basically, cash accounting recognizes revenue and expenses right away, while accrual accounting places focus on the anticipated revenue and expenses.
  • To enable your business to run smoothly, you should keep a close eye on all money coming in .
  • Accounting for your cash transactions doesn’t have to be difficult.
  • To get the most out of your software, you should work with a bookkeeping professional to make sure it’s set up correctly.

It’s easy to mix your personal and business expenses when you carry multiple credit or debit cards. You can pull out the wrong credit card while buying lunch, filling your gas tank, or paying for supplies. You can charge a business expense to your personal account with the intention of straightening it out later.

Avoid legal problems that sometimes come with a joint account and simplify your life by splitting up business and personal finances. This is something that is especially important for C corporations. Simplify, automate, and ultimately delegate your bookkeeping.

Separate Receivable Payments From Borrowed Loans

With everything else you’re juggling as a small-business owner, it’s tempting to keep postponing your books. After all, you’re in business because of your proficiency in your field, not because you enjoy bookkeeping . Accounting software can sometimes be exceedingly difficult to operate and complicated, especially if you do not know what you are doing.

You will be able to track down and analyze any issues that may arise. Another way to track all the expenses and income generated by the business is to have a business credit card since it keeps a record of all the expenses. Furthermore, it refrains you from using cash and thus losing receipts will be a thing of the past. As a small business owner, one of the most vital things you should practice is the aspect of bookkeeping. If you have good financial records, you will be able to manage debts, deposits, and items given on credit by using invoices recorded. Without proper management of all your business finances, you may end up bankrupt before your investment even expands. Bookkeeping is important because accurate accounting records are essential to a company’s sustainability.

Streams Of Income That Will Grow Your Wealth

Fixed costs are the costs that either don’t change or you have no control over the change. This includes your rent or mortgage, equipment costs, insurances, permits, and other operational expenses. These fixed costs typically make up the minority of your restaurant expenses. “Excellent and professional work helping with our business and personal legal and estate planning needs.” You’ll also make it easier to get your questions answered when you’re trying to track down that one specific transaction a few months later. Providing a set date can be crucial to getting paid on time. The UK average is 30 days to pay but you can ask for payment sooner, or even later.

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Timóteo Antunes: Um agente da Cultura Mato-Grossense

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Timóteo Antunes

Timóteo Antunes, conhecido carinhosamente como Timóteo Produções, é um ícone no cenário oeste da cultural de Mato Grosso. Com mais de 15 anos de experiência, ele se destaca como agente cultural, produtor técnico, especialista em sonorização, cenógrafo e profissional do audiovisual. Sua trajetória é marcada por um profundo compromisso com a economia criativa e pela promoção de projetos que entrelaçam arte, música, teatro, tecnologia e inovação.

A Essência do Trabalho de Timóteo Produções 

Como um verdadeiro profissional multifacetado, Timóteo atua em diversas frentes: desde a produção de clipes musicais e DVDs até a organização de workshops, festivais e celebrações de aniversários de cidades. Sua habilidade em cenografia e sound design o torna um pilar fundamental em empreendimentos que necessitam de um toque de criatividade e precisão.

“Meu objetivo é desenvolver um conceito visual que comunique de maneira direta e eficaz”, revela Timóteo. Sua abordagem é caracterizada pela meticulosidade e pela capacidade de transformar visões em experiências inesquecíveis para o público.

Timóteo Antunes

Atuação e Impacto

Timóteo é um agente cultural comprometido, atuando ativamente na produção e formação artística. Ele está à frente de editais e projetos que promovem a cultura em suas múltiplas expressões. Seu trabalho com a Orquestra Municipal de Sapezal e a realização de workshops sobre microfonação, além da gestão da contratação de artistas tanto locais quanto de renome, são provas de sua dedicação à excelência e à inovação.

No campo do audiovisual, Timóteo brilha ao capturar a essência única de cada projeto, seja em clipes, documentários ou produções teatrais. Sua visão dinâmica e plural é especialmente atrativa para a Geração Z, que valoriza a autenticidade e a inovação.

Estilo e Filosofia

Timóteo acredita em um espaço de inclusão e valorização em todos os seus trabalhos. Como sócio-fundador da ASASMT (Associação de Serviços Artísticos do Sertão de Mato Grosso), ele se dedica a destacar os gestos e expressões, criando uma conexão genuína entre artistas e público.

“Nossa abordagem é humanizada e inclusiva, focada em valorizar a essência de cada indivíduo”, explica Timóteo. Essa filosofia não só fortalece a identidade dos projetos, como também conquista a confiança de artistas, produtores e parceiros, solidificando Timóteo Produções como uma referência no panorama cultural.

Timóteo Antunes

Próximos Passos

Com uma trajetória consolidada e uma visão ambiciosa para o futuro, Timóteo planeja expandir seu impacto, levando sua expertise a projetos nacionais. “Meu desejo é continuar inovando e contribuindo para a cultura, não apenas em Mato Grosso, mas em todo o Brasil”, revela.

Reconhecimento e Gratidão

Ao final de nossa conversa, Timóteo expressa sua gratidão: “Agradeço sinceramente a todos que acreditaram no meu trabalho e me apoiaram ao longo dessa jornada.” Sua humildade é um reflexo de um profissional que, mesmo com inúmeras conquistas, permanece focado em crescer e inspirar.

Contato

Para saber mais sobre o trabalho de Timóteo Produções, entre em contato pelo telefone (65) 9 9605-1420 ou acesse as redes sociais: 

https://www.instagram.com/timoteo_producoes/profilecard/?igsh=MWRodXN6NXFkanNveg==

https://www.linkedin.com/in/timoteo-antunes-46b30321a?utm_source=share&utm_campaign=share_via&utm_content=profile&utm_medium=android_app

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O Feminicídio e a Cultura da Violência Contra a Mulher

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Dados do Instituto Sou da Paz revelam aumento alarmante no feminicídio.

No ano de 1921, homens brancos massacraram a população afro americana da cidade de Tulsa, nos Estados Unidos. Foi um massacre racial, motivada pelo ódio ou aversão à humanidade de cor negra, crime que foi e continua sendo encoberto pelos homens brancos dominantes.

A misoginia (aversão ou ódio contra as mulheres), vem sendo observada no Brasil e no mundo, sendo que aqui, o feminicídio tem se mostrado numa espiral crescente, ano após ano. Segundo o Jornal O GLOBO, uma mulher é vítima de feminicídio a cada 17 horas no Brasil.

O que está acontecendo com nossa sociedade? Porque tanta violência contra diferentes? Porque essa violência ao invés de diminuir, está aumentando a cada dia que passa?

Tanto os crimes raciais quanto os crimes contra os gêneros, são decorrentes da “objetificação” que as comunidades dominantes, aplicam em face dos negros, mulheres, LGBTS, estrangeiros, migrantes e tudo o mais que represente para eles, o compartilhamento de poder das castas mais dominantes.

A chaga nefasta do período da escravatura, fazia de seres humanos negros, meros objetos passiveis de apropriação; ou seja, eram tratados como objetos e não sujeitos de direitos em igualdade a qualquer outro ser humano.

Assim da mesma forma, hoje se vê o mesmo fenômeno, na questão do feminicídio. Os homens se entendem “donos, proprietários” das mulheres, negando-lhes a qualidade de seres humanos e sujeitos de direitos. Veem as mulheres como meros objetos para seu uso e quando percebem que a mesma se liberta ou tenta se libertar dessa nefasta dominação e “objetificação”, eles as agridem achando que tem o direito de fazer isso.

Além das politicas públicas tendentes a prevenir, garantir a segurança das mulheres e punir os perpetradores dos crimes, é urgente e necessário um grande programa de conscientização da sociedade. As Guardas Municipais podem e devem ser instrumentos dessa prevenção, atuando de forma presente para prevenir e garantir a segurança das mulheres, com programas diretamente ligados à elas, como em São Paulo temos o Programa Guardiã Maria da Penha, da Inspetoria de Defesa da Mulher e Ações Sociais, que realiza visitas nas casas, promove o acolhimento em abrigos sigilosos por exemplo.

Mas somente estaremos realmente atacando esse problema criminal, com um grande projeto de conscientização, educação e vigilância, a fim de promover a mudança cultural de opressão, dominação e violência contra as comunidades mais vulneráveis e desprotegidas, trazendo para o cotidiano da sociedade, conceitos de igualdade, cidadania e humanidade, que mostre a inexistência de sentimento de propriedade nas relações interpessoais e que ninguém é objeto de apropriação por nenhuma outra pessoa.

Franklin Karbstein é advogado, Presidente do Conselho de Segurança de Guaianases e radialista. Autor do Livro “Conselhos Comunitários de Segurança” Editora Autografia.

 

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Mistura de Substrato Plantiê: um aliado essencial contra pragas e fungos no cultivo

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Um solo saudável é a base para plantas vibrantes e produtivas. A mistura para plantas Plantiê é cuidadosamente formulada para oferecer um ambiente de cultivo ideal, protegendo suas plantas de pragas e fungos. Descubra como esse substrato inovador pode transformar seu jardim ou horta.

Por que a Mistura de Substrato Plantiê é Diferente?

Proteção Natural Contra Pragas e Fungos:

  • A Plantiê utiliza ingredientes naturais com propriedades anti pragas e antifúngicas, como o bokashi, casca de pinus tratada, vermiculita e carvão vegetal.
  • Essa combinação cria uma barreira protetora que impede o desenvolvimento de pragas e doenças, mantendo suas plantas seguras.

Solo drenado e solto

  • A estrutura da mistura para plantas Plantiê garante uma excelente drenagem, evitando o acúmulo de água e o desenvolvimento de fungos.

O solo leve e solto permite que as raízes respirem, promovendo um crescimento saudável e vigoroso, simulando o ambiente ideal para as suas plantas.

  • Nutrição Balanceada:
  • Enriquecida com nutrientes essenciais, a Plantiê fornece tudo o que suas plantas precisam para um desenvolvimento completo.
  • A liberação gradual de nutrientes garante uma nutrição constante e equilibrada.

Conclusão:

A Mistura de Substrato Plantiê é a escolha perfeita para quem busca um cultivo saudável e livre de pragas e fungos. Experimente e veja a diferença na vitalidade das suas plantas!

Adquira agora a Mistura de Substrato Plantiê em www.plantie.com.br  e proporcione um ambiente de cultivo ideal para suas plantas.

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