{"id":3462,"date":"2012-10-26T07:41:26","date_gmt":"2012-10-26T05:41:26","guid":{"rendered":"http:\/\/www.officetodo.com\/public\/?p=3462"},"modified":"2012-11-13T20:22:20","modified_gmt":"2012-11-13T18:22:20","slug":"things-to-always-do","status":"publish","type":"post","link":"http:\/\/www.officetodo.com\/public\/things-to-always-do\/","title":{"rendered":"Things to always do"},"content":{"rendered":"<p>Keeping your business going is an everyday job mostly \u2013 there are things you\u2019ve got to do to keep it all running smoothly and to ensure you\u2019ve got your customers happy, you\u2019ve got your invoices paid and last, but not least have your accounting in order. If you don\u2019t have this last thing, you can kiss your business goodbye pretty soon, trust me. I\u2019d say it\u2019s like the basic foundation you start building on a good and sustained business. Why so? <!--more--><\/p>\n<p>Think of it as having your body running on healthy food. It builds strong base inside, but also shows it outside. It\u2019s similar in business \u2013 keeping order, having discipline and understanding the importance of accounting is what makes sure you can keep your customers happy (FYI, you get a lot more time to make sure they are so when you follow our simple steps to make sure your accounting is properly set). Putting effort into accounting also ensures your suppliers are well treated, i.e. you pay invoices on time; don\u2019t get into their \u201cbad client\u201d list etc. And most importantly, good accounting gives you an overview of where you are with your business \u2013 are you making profits, have you got enough resources to fulfil orders, to pay up debt and so on.<\/p>\n<p>However, as with keeping your own body healthy, there are things you\u2019re expected to do with accounting just as well. There are things that don\u2019t exactly result in accounting entries per say, but are done just as well. Most important I\u2019d say is keeping in mind that they are to be done regularly and making yourself a habit of doing them rather than forgetting and them remembering and guess what, realizing you\u2019re in a mess all of a sudden. How does it happen? When you forget to:<\/p>\n<ul>\n<li>Do <strong>regular<\/strong> <strong>stock counts<\/strong>.<\/li>\n<li>Do <strong>count your fixed assets<\/strong>.<\/li>\n<li>Do <strong>confirm balances with third parties<\/strong> \u2013 your customers and suppliers.<\/li>\n<li>Do <strong>reconcile your bank balances with bank statements<\/strong>.<\/li>\n<li>Do <strong>accrue expenses regularly<\/strong>.<\/li>\n<li>Do <strong>store your source documents<\/strong>.<\/li>\n<li>Do <strong>keep your internal accounting rules up-to-date<\/strong>.<\/li>\n<\/ul>\n<p>Obviously you\u2019re expected to do your accounting entries regularly, but as you can see, there\u2019s a bit more to it. The actions listed (note that it\u2019s not all obviously, but just the most common ones) are also something often called \u201ccontrol procedures\u201d \u2013 something you do to ensure everything is accurate and correct in your accounts. Accounting is not just blind entries \u2013 real physical world and other parties reflect on what you have going on \u2013 your assets, your liabilities. It\u2019s all confirmable and reconcilable and my recommendation is to do it as often as reasonable and practicable, but at least once a year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Keeping your business going is an everyday job mostly \u2013 there are things you\u2019ve got to do to keep it all running smoothly and to ensure you\u2019ve got your customers happy, you\u2019ve got your invoices paid and last, but not least have your accounting in order. If you don\u2019t have this last thing, you can [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27,75],"tags":[],"class_list":["post-3462","post","type-post","status-publish","format-standard","hentry","category-3-controls","category-3-4-regular-control-procedures"],"aioseo_notices":[],"_links":{"self":[{"href":"http:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/posts\/3462","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/comments?post=3462"}],"version-history":[{"count":3,"href":"http:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/posts\/3462\/revisions"}],"predecessor-version":[{"id":3465,"href":"http:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/posts\/3462\/revisions\/3465"}],"wp:attachment":[{"href":"http:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/media?parent=3462"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/categories?post=3462"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/tags?post=3462"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}