{"id":3807,"date":"2013-01-02T12:21:35","date_gmt":"2013-01-02T10:21:35","guid":{"rendered":"http:\/\/www.officetodo.com\/public\/?p=3807"},"modified":"2012-12-29T12:23:15","modified_gmt":"2012-12-29T10:23:15","slug":"what-to-watch-out-for-when-first-starting-with-accounting-for-your-own-business","status":"publish","type":"post","link":"http:\/\/www.officetodo.com\/public\/what-to-watch-out-for-when-first-starting-with-accounting-for-your-own-business\/","title":{"rendered":"What to watch out for when first starting with accounting for your own business?"},"content":{"rendered":"<p><strong>Consistency, accuracy and compliance<\/strong> \u2013 ensuring these three things is the key thing to remember.\u00a0<!--more--><\/p>\n<p>Try to build up a <strong>clear and easily maintainable entry system<\/strong> \u2013 numbering, referencing to documents and building up accounts on the statements (if you\u2019re having your accounting done on paper).<\/p>\n<p>Make sure it\u2019s <strong>not excessive or too unreasonable<\/strong> as in forming unnecessary obligations you may not be able to keep in busy times (i.e. a complicated referencing system or documents specifically meant for certain types of transactions that are not needed to be formed in such detail etc.)<\/p>\n<p>One key thing to consider is if and if so than <strong>how you\u2019re going to deal with cash<\/strong> \u2013 the most liquid and the most tempting form of asset a company can own. Cash isn\u2019t easily traceable (unless you\u2019re registering every piece of cash and even then it\u2019s not that easy) and since it\u2019s light and tradable right away for whatever means one may need it for, it\u2019s the most tempting asset a company can own and have accessible for it\u2019s personnel. Now something you should consider is who, when and how has access to cash and how will you ensure such temptations are not given in.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Consistency, accuracy and compliance \u2013 ensuring these three things is the key thing to remember.\u00a0<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26,74],"tags":[],"class_list":["post-3807","post","type-post","status-publish","format-standard","hentry","category-2-processes","category-2-7-accounting-in-itself"],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 5.0.1.1 - aioseo.com -->\n\t<meta name=\"description\" content=\"Consistency, accuracy and compliance \u2013 ensuring these three things is the key thing to remember. 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