What will you take away from this? Found revenue. LITERALLY!
Yesterday I shared I was working on 1099's. I sent an e-mail asking for a W-9 from a couple of business owners I do business with and we found $300 that had not been paid. We both thought a transaction had been paid in full. Yet low and behold, missing revenue was found for a fellow colleague.
A couple of weeks ago the same scenario popped up when a client was reconciling their bank statement to QuickBooks. We found $1,700 that had not been paid by a client.
So the top revenue tip for you today . . get a check and balance system in place so you know if your business is missing CASH $$$.
Here are six to do's -
Invoice your customers, using QuickBooks or another simple accounting software that is easy, peasy.
Receive payment in the mail or online via credit card or PayPal.
Print the online receipt or photocopy the payment and bank deposit slip for your 2012 records. (something you can refer back to later if you ever question the invoice or payment)
Process receiving the payment in QB.
Create the deposit in QB.
Balance your business bank statement monthly in QB. This is a KEY step, as this confirms the check and balance system.
6 easy steps to make sure you are not missing cash $$$.
Isn't your hard work and time worth having a check and balance system in place so you are receiving the cash you earned?
If you need help or have questions leave a comment below or send off an e-mail to d.rosenfelt@cfomadeeasy.com.
Your Chief Heart Officer
Debbie Rosenfelt
No comments:
Post a Comment