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	Find The Money

	by Diane Palmer

You have heard the saying.. "no job is finished until the PAPERWORK is done".. this statement is very true, when it comes to running a business!

BOOKKEEPING

You need to keep track of your INCOME and EXPENSES, not only for the tax man at the end of the year, but also for you. You need to make sure you are not running around in circles, working very hard, and not making any money, you want to find the money!

A BETTER WAY

As a bookkeeper myself, and owner of a business, I know how important it is to have a simple SYSTEM for keeping track of these records. You need something very simple that you will get into the habit of doing everyday. Stuffing receipts in your glove box, or leaving them in the bags.. is not a good way to store receipts!

MY METHOD

For example, when I purchase supplies or something for my business, I have an ENVELOPE in my purse where I stick the receipts for business, and then empty the envelope into a basket right beside my computer at the end of the day. My husband, always puts his business receipts in his left hand pocket of his jeans, separate from his wallet, and then empties his pocket at the end of the day into the basket. This has become a HABIT.

UPDATING YOUR ACCOUNTS

So, now you have this basket filling up, you now need to spend at least an hour per week (depending on how complex your business is) ENTERING these receipts into a accounting program. Try and pick the same time every week, because we humans are creatures of habit... If you have a computer and have purchased an accounting program, you should not have any trouble with this. Most programs are very explicit and are designed for beginners right up to advance, keep a basket for your INVOICES as well, enter them at the same time, and this is a good way to keep track of customers who are a bit tardy if your business does custom work, but it also keeps a customer data base for sending news letters to and letting them know your sales, or where your shows will be. This can be a great system to promote your business.

MAKING EVERYTHING EASIER

If you do all the bookkeeping on a regular basis, not only will you sail through TAX time, but you can continuously see your financial PICTURE on these programs, as they will print out profit and loss statements, and you can see where you are spending too much, or not charging enough. The old fashioned way of doing this manually is still good, but if you want to see where you stand with just the press of a button, then get yourself set up with some accounting software, and find the money!

Diane Palmer has been in the craft industry for over 15 years, selling and creating!. She has created a website www.make-crafts-for-cash.com to teach creative ways to make and sell arts and crafts, online, craft shows, fairs, more.. Turn your craft hobby into a business!

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