Ah, the promise of a new year. When old habits are destroyed and new habits are formed. Goodbye messy office and desktop full of random icons that I never use. Out with the old and in with the new, I always say. Well, I say that in January at least.
I am often reminded of my first day of school each year. I would show up with my brand new white tennis shoes, fully organized Garfield Trapper Keeper, and a renewed sense that this would be my year. I would stay on top of homework, ace every test, and get rid of Sunday night school stress.
And then stupid real life would kick in. Two weeks into my lovely new school year, my shoes were scuffed, Garfield had turned into the cowardly lion from the Wizard of Oz, and I had the “oh fiddlesticks (I used to say that), I have a test tomorrow!” feeling in the pit of my stomach on Sunday nights.
I often hear the same thing from entrepreneurs when it comes to their bookkeeping starting in January. “I’m really going to buckle down and enter everything where it should go and on time this year. I really mean it!” they say. Then two weeks into January, their shoes are scuffed, Garfield had turned into…...well you get the rest.
Here are a few basic ways to get started on the right track in 2014:
I am often reminded of my first day of school each year. I would show up with my brand new white tennis shoes, fully organized Garfield Trapper Keeper, and a renewed sense that this would be my year. I would stay on top of homework, ace every test, and get rid of Sunday night school stress.
And then stupid real life would kick in. Two weeks into my lovely new school year, my shoes were scuffed, Garfield had turned into the cowardly lion from the Wizard of Oz, and I had the “oh fiddlesticks (I used to say that), I have a test tomorrow!” feeling in the pit of my stomach on Sunday nights.
I often hear the same thing from entrepreneurs when it comes to their bookkeeping starting in January. “I’m really going to buckle down and enter everything where it should go and on time this year. I really mean it!” they say. Then two weeks into January, their shoes are scuffed, Garfield had turned into…...well you get the rest.
Here are a few basic ways to get started on the right track in 2014:
- Enter transactions as they occur. You will not plow through that pile of papers on your desk Friday night.
- Use your business checking account statement to perform a month’s end reconciliation, i.e. actually make sure all of your banking transactions are entered into your accounting program and vice versa.
- And speaking of your business checking account, do not use it for personal stuff. Ever. Not everything is a write-off.
- Start saving for your taxes immediately. Open a new account for them if necessary.
Happy New Year and keep Garfield in good shape!
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