Managing your business' finances can be challenging if you don't have the tips or know-how to do so. Check out this informative guide filled with Randall Dang's top accountant tips to help you tackle your finances.

2. If you are running a small business and you are handling
the business' finances, than you'll need to follow these
accounting tips to make your life easier!

3. Never use the business credit card or bank account to
make personal purchases even if you have the
intention on paying it back. This can make it
complicated when you need detailed records of the
business expenses if you have personal transactions on
the same account.

4. During the last day of the work week, spend about 15
minutes reviewing and organizing the business
finances. This will help you make better financial
decisions on a daily basis, can help you identify any
potential financial problems and make it easier to
prepare tax documents at the end of the year.

5. Don't forget to review your labor costs because it may
be the biggest expense. Tracking the labor expenses
can help you re-evaluate the labor budget: if you are
under budget, you could use the excess as employee
incentives and if you are over-budget, you can look at
ways to reduce those costs.

6. You need to make sure your business is getting paid for
the products or services you are selling. In order to
confirm you're getting paid, you must track all invoices
and payments at least once a week. It's essential to
follow-up on invoices and payments because it'll help
you tackle any discrepancies sooner rather than later.

7. Accountant Randall Dang says this tip is by far the most
important: hire an accountant. While it may sound trivial, an
accountant may know much more than you do when it comes
to finances and they are considered experts when it comes to
tax laws. Having an accountant will only help your business and
they will be able to assist with bookkeeping, tax deductions and
provide you with sensible financial advice.