In addition, the financial statements of the business also needed to help management take financial decisions, apply for credit to the bank, and administer tax.
Unfortunately, there are many mistakes made by entrepreneurs, which could result in inhibition of the progress of a business. Here are 4 mistakes in making the financial statements of business.
1. The inability to predict the amount of use of pennies.
This could undermine our personal bag, you know. That is why there is a term of petty cash or petty cash. Petty cash is used to handle returns and other matters that trivial. Not for routine operations, but for the unexpected course.
2. Most entrepreneurs do not optimize the automated banking services.
Upon receiving payment, he did not keep it in the bank because they think, "after all, will be issued again to pay the costs."
When he did not keep records manually in the company, not to deposit money into the bank, and did not repay the cost of the auto-debit from a bank, business activity will not be tracked. Money coming out just like that. There are no records manually and also do not get caught in a bank debit and credit.
3. If already have a business account, is the active use.
Every three days, we can deposit the money into the bank. For small payments, use the petty cash. If having to pay suppliers or others, take advantage of auto-debit facility or transfer. So manually recorded and can be accounted for in the bank.
4. If businesses have developed, we need the help of experts to take notes.
This can not be done haphazardly. If you do not know how to make a booking, this does not mean employers should not do it. If you can not, delegate this task to others.
There are employers who hire people who are not as needed in order to minimize costs.
An entrepreneur must know many things and can delegate the job to the right people. A solution was to learn. (R)
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