Small steps can lead to a tremendous ripple effect on your business. Here are some simple things you can do to better manage your finances.

• Record all transactions, whether big or small. Expense tracking technologies can help you avoid errant spending.
• Make it a habit to keep your business and personal expenses separate.
• Reconcile what you know from your books with what your business bank accounts reflect. Do this financial reality check on a regular basis.
• Create a budget for new projects you’re planning to define its relative value from other projects and the ongoing expenses within your business.
• Work closely with your bookkeeper/accountant. Communicate regularly and ensure that important messages don’t get lost in the cracks.

Accounting and bookkeeping are integral aspects of business growth. However, many tradies loathe these tasks. If you need expert assistance for the finance-side of your business, get in touch with us today.