It is not only when you are running a business venture you should keep or maintain financial records, you should maintain same in your daily personal expenses as well. Always make a budget limit for your expenses. Don't spend on what you don't budgeted for. Where unexpected expenses occurred, if it is not urgent, then it can be postpone till next accounting date.
How to keep your financial records intact
- Thread starter hastral45
- Start date
It is easy said than done. I started keep my expense record before I know it become boring and uninteresting. Now, i don't keep financia records again.
That is very true but it takes some level of discipline to continue. You can open an online diary and that can give you more motivated.
True, employing a bookkeeper is very important for any business venture. I know a pharmacy shop that has a bookkeeper specifically for keeping of all the financial records in the business venture.
Keeping financial records intact is of utmost importance to a business. It is essential for good financial planning and management. Very often, this task is done by a bookkeeper or an accountant.
Yeah, I think it will be better if you are employee a professional bookkeeper to do that. But if you don't have a lot of money doing it by yourself may be a good option.
You can keep a record of all your income and expenses to keep track. When you have them in one place it will be easy for you to monitor your spending.
Since I am an old-fashioned individual, I would go for bookkeeping manually. Although I am open to use a software system, which it can be more automated in filling in the numbers and the like.
To keep your records intact, you would need to automate your records system. No matter how you look at it. Manual records won't just cut it.
