| Get Ready |
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Below
are some tips to help you 'get ready' to do your books - what YOU can do to
save time and money! For more comprehensive guidelines, we have provided
a for you to print and keep. You will need Acrobat Reader. If you do not have
Acrobat Reader, you can get Acrobat Reader here -
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| Bank Reconciliations: |
Have your bank statements WITH returned cheques
available. Have your cheque book with cheque stubs (or duplicate cheques)
handy. |
| Sales Invoices: |
Keep the 'paid invoices' separate from the 'unpaid'
or 'outstanding' invoices.
On Paid Invoices indicate - date deposited, cheque
number, amount paid if not paid in full. |
| Bills/Invoices You Need to Pay: |
Indicate on the invoice the amount if not
in full or the reason why not paid in full. Don't forget to also indicate
date paid and cheque number. |
| Receipts/Expenses: |
Indicate on receipt what it is for (auto?
gas?). If it involves meals, indicate who it was for (example: Joan from
Anyday Crafts, Jim of Jim's Hardware, etc.) |
| Credit Card Bills: |
Treat the same as expenses indicating which
are personal (if applicable) or which business account it should be allocated. |
| Back Up Your Data: |
It is very important to back up your computerized bookkeeping
figures. A safe way to do this would be to use alternate floppies or
CDs. In other words, if you use floppies, use one floppy one day and
the second one the next day, and continue alternating. Should your computer
crash or information get contaminated, you would only loose one day
of input. |
| For Beginners.... |
** When you are making deposits by ATM, try to separate
cheques rather than one large deposit representing 2-3 client payments.
This will make it easier to match your bank statement to your accounts
receivable invoices.
**If you are a very small business, a simple way to
begin your filing system is to acquire an accordian-type filing folder.
Some are of cardboard and others are a little fancier made of coloured
plastic, etc. Make sure you have at least 12 pockets so you can label
one pocket for each month. All bills, statements, etc., are placed in
the appropriate month. This may not sound like a very sophisticated
filing system, but for those who hate to file, this may be the answer. |
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