5 Tips To Get Your Manufacturing Business’s Accounting In Order
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Transcript of 5 Tips To Get Your Manufacturing Business’s Accounting In Order
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TIP #1
To keep track of all deductible
expenses and save you hours
of work and re-work in the
future.
SEPARATE OUT YOUR BANK ACCOUNTS
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Categorise every expense and track your cash
flow to help in saving and prioritizing spends
TRACK EVERY EXPENSE
TIP #2
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Regularly go through and update
your company’s books of accounts
UPDATE YOUR BOOKS
TIP #3
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TIP #4
Make it a point to write down
or keep a track of every penny
spent on factory floor wages or
paid towards such costs
ACCOUNT FOR LABOUR COSTS
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TIP #5
Maintain proper records of
payment due to you, invoices
or receivables
MAKE SURE YOU GET PAID
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If all else fails or if you find accounting too
daunting, hire a professional accountant!
THE MONEY YOU SPEND TODAY WILL SAVE YOU SO MUCH MORE TOMORROW!
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