Some businessmen complain income from his business always runs out before the save. If there is to be saved, only a small amount. In fact, a project he has received quite a lot. Supposedly, the business can run smoothly and be happy even though his life was no order. However, the opposite happened.
This may be experienced by some people who started the business world. Moreover, if the business classified as kind of family business. At the beginning of the business, when the project gets, the money always runs out to support the family. The term, when it’s happy, forget everything. Forget having to pay electricity, telephone, internet, transportation, and so forth.
And one thing that is always overlooked is the record of all activities and transactions. There are many small businesses do. In fact, the recording is an important basic step that must be done to promote the business. Then, how to organize a good business finance?
1. Decide what portion of the financial
The easiest way to manage business finances is to agree from the outset how the portion of money that will be used in accordance with the traffic of money required. For example, how much money will be used to pay for salaries, operations, as well as how much profit will be used to develop the business and for savings.
For starters, you could try to split a portion of 30: 30: 30: 10. Portion of 30 percent for salaries, 30 percent more for the company’s operations, such as office rent, electricity, telephone, fax, transportation, and so forth. Then 30 percent more to develop the business, and the remaining 10 percent for personal savings.
The pattern of the distribution structure percentage number is not absolute. You may define your own. Noteworthy is based on the value of discipline in split agreed at the outset. This way, you will be more easily manage business finances.
2. Separate personal and business accounts
After the portion determined, the next step to do business financial records. Indeed, if the business is still small, we often tend to equate the money received in the effort and money for personal gain. In fact we usually keep the money in the account number.
In fact, if the business finances and personal finances are combined, you will have difficulty in monitoring revenue or expenditure that has been done. By conducting the separation between the recording of the business finances with personal finances, it will be easier to distinguish between the cash flow of the business to use the money for personal gain.
3. Do not be easily tempted
Here are the main points as the establishment of self discipline. And, indeed the key to financial management business is a discipline in keeping the percentage portion that we set for business and personal finance.
The temptation is usually often comes while many orders. The goods were not already too important to be like “asking purchased”. There are times, when money comes in large quantities, we suddenly feel the need for this and that. One of them, buy clothes with a reason to look more appropriate when meeting clients.
There is nothing wrong fulfill that desire. But with the record, you should be able to distinguish between needs and wants. Before buying something with a business reason, ask first, whether it is an urgent need or desire that can be postponed. Well, this answer that will help you determine where the money can be used.
Where possible and have enough money, you can use accounting software for business financial records. With this software, financial records could be made more professional and presentable. By doing so, you also do not have a gap to just rip the business money for personal needs.