The only way to keep track of your cash flow is to write it down, and that’s probably not an easy feat for you to do if you don’t have a pen and paper handy.
Like many small businesses, small business owners like myself have hidden, secret, and/or messy ways of keeping track of all the money we earn but don’t have access to. It’s the way we are led to believe that we are keeping a “clean” cash ledger by keeping only the most important numbers and records close to us.
The best of these ways is the one that I use every morning when I wake up. I get up and write down all of the different accounts that I have for my company on my clipboard. I then jot down the total dollar amount of each one. I then put it all in a spreadsheet. I use the spreadsheet to keep track of how much money I have in each account.
This is a great place to start if you’re new to the world of bookkeeping and small business. It’s also a great place to learn how to do your own bookkeeping on a small business.
The most important thing to remember about bookkeeping is that it isn’t the same thing as keeping track of how much money you make or how much you spend. Its more about keeping track of how you spend your money on each individual account.
This is important because if you keep track of how much it is costing you to do something, you are likely to start wondering where that money went and who spent it. Keeping track of how much money you spend in each account also helps you to spot patterns and patterns of spending over time. An account that spent $100 on candy last month, for example, might not look like it was just like that.
Keeping track of how much money you spend in each account allows you to see patterns that lead to spending patterns. In fact, this is one aspect of financial tracking that is the greatest benefit of a self-auditing system.
Self-auditing systems can help you spot patterns of spending over time. A self-auditing system can also help you spot patterns of spending for the wrong reasons. For example, you might have an account that was set up to meet a specific spending objective. When you don’t meet that objective, you can’t continue to spend money on that account.
Self-auditing systems give you a heads-up on when you’re spending money on the wrong reasons. For instance, a self-auditing system might say that you’re spending money on a restaurant when you should be spending money on a movie. You can prevent yourself from falling into this trap by seeing what the pattern is. Self-auditing systems give you a heads-up when something is going wrong.
If you’ve been a self-auditing system user, you’ve probably noticed that you often find yourself saving money because you knew you were spending money on the wrong reasons. This is a good time to give it a shot though, because using a self-auditing system can save you a lot of money.