Author name: wpx_@bacus4u

Did you know that more than 40% of small businesses make mistakes on their payroll every year? ❌ AND – that the average fine for those mistakes is a whopping $850?? 😰 That’s just one example of how bookkeeping mistakes can hurt your bottom line. 💰 And don’t get us started on all the other ways, too, like: 💰 Overdraft fees 💰 Fines for late tax filing and missed deadlines 💰 Unclaimed tax-deductible expenses 💰 And lots more! The good news? All are TOTALLY avoidable with some basic bookkeeping ❤

They say that a good recipe starts with great fresh ingredients, right? 📊 Well, it’s the same with your business – if you want to create solid profit-making strategies, you need to start with clean up-to-date data. And one of those essential data “ingredients” is your business expenses. Think about it this way: You wouldn’t make burgers for your family with expired meat and moldy buns, right? Your business deserves better than moldy old data, too! So, here’s 3 tips to help you manage your expenses in a “fresh” way that leads to more profitable strategies:
Tip #𝟭 – 𝗕𝗲 𝗖𝗼𝗻𝘀𝗶𝘀𝘁𝗲𝗻𝘁. Two of the fastest ways to muddy a financial report is (1) duplicate expense accounts and (2) inconsistent categorization. Think about it – how can you track your expense patterns over time if you pick (or create!) a different expense category every month for your car insurance payment?

𝗪𝗵𝗮𝘁 𝗶𝗳 𝗶𝘁 𝗱𝗶𝗱𝗻’𝘁 𝗵𝗮𝘃𝗲 �