1. http://www.washingtonconsultantsllc.com
edna@washingtonconsultantsllc.com
313-874-4533
GET YOUR BUSINESS FINANCES IN ORDER!!!
1. Have An Accounting System In Place
 QuickBooks Software
 Peachtree Software
 Microsoft Office Accounting
2. Create A Budget For Your Business
 Budget Defined
Estimate of costs, revenues, and resources over a specified
period, reflecting a management's reading of future financial
conditions. One of the most important administrative tools, a
budget serves also as a (1) plan of action for achieving quantified
objectives, (2) standard for measuring performance, and (3)
device for coping with foreseeable adverse situations.
As Defined by www.BusinessDictionary.com
 Compare Actual Budget to Current Financial Statement (Profit &
Loss)
3. Input Financial Information Regularly
 Best advice is to input financial transactions daily
 This helps with your ability to produce timely Financial
Statements
4. Reconcile Your Bank Statements
 This will help detect errors made by your bank and fraud in your
company
 The person who signs the checks should not reconcile the bank
statement.
5. Review Your Financial Statements
 Review Financial Statements Monthly
 When reviewed regularly management can make better financial
decisions
 Review Profit & Loss as a percentage of Total Income. (See
Example)