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5 Simple Tips to Keep Small-Business Finances in Order

Money is great if you know how to use it and hold on to it. In an article for Forbes, Kirk Simpson provides five tips drawn from his experiences in starting three businesses. His first tip is to always keep personal and business finances separate to save yourself headaches reconciling discrepancies later. The cleaner the records you keep, the less expensive it will be to have an accountant—and you very likely will want an accountant to help you find additional deductions.

Dedicate at least 15 minutes a week to working out and writing down your finances. Making it a regular part of the week will reduce urges to procrastinate. Additionally keep in mind that labor, whether yours or that of employees, is likely to be one of the main expenses. Scrutinize it and things like benefits closely. And lastly, do not forget to get paid—it is easy to send invoices and not realize they have not been paid, or forget to send the invoice altogether. Get your money!

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About John Friscia

John Friscia is the Editor of Computer Aid's Accelerating IT Success. He began working for Computer Aid, Inc. in 2013 and continues to provide graphic design support for AITS. He graduated summa cum laude from Shippensburg University with a B.A. in English.

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