Where'd The Money Go?

        Good question. Knowing where your money is going is one of the most important elements of your business. You go to a craft show or you make sales in-store or online and when its all said and done it seems like you have nothing to show for it. Keeping track of your expenses and sales is a must. It will allow you to see where your money is actually going. When you keep accurate books, you will be able to determine your profit and loss margins as well. Once you have a clear idea of how you are spending and making money set a budget. Oh no, not a budget, SMH yes, my friend, a budget.
       
        There are some great programs available to help with book keeping. I know many small businesses, like us, can't really afford to just out right purchase book keeping software, but thank goodness there are some free/low cost options available. You can search the web for some free book keeping software and there are also templates available to use if you want to take that route. We chose to use QuickBooks online. Its very affordable and they have many plan options available to meet your financial needs. I like QuickBooks because it does all the figuring for you. It makes life so much easier and allows us to focus on other things. It shows your expenses and sales reports as well as allows you to run profit/loss reports. Book keeping, good book keeping, is essential to your business and should be a top priority."Pot meet Mr, Kettle", I know I'm speaking to myself as well. It can be hard to stay on top of but it's a necessary evil.

        You should also make a budget and stick to it. (Man, I'm really ragging on myself here.) You will definitely be wondering, "Where'd The Money Go?", if you don't. Spending more than you are earning is never a good thing in business or in life. That's why setting a limit(budget) is a must.

        I said all of this to say, good book keeping is essential to running and growing a business. If you have your books in order you won't have to wonder, "Where'd The Money Go?"....You'll already know.


Happy Reading
Andrea