Organizing Your Accounts

As a successful business, you are managing hundreds, if not thousands of transactions a day through your payment processor. It’s very easy to lose track of the cashflow from your revenue generating activites. My question for you is how to do organize this information?

In the bookkeeping world, this would be a chart of accounts which is basically a list of all the accounts that your money pass through. You may own business equipment, have vendor lines of credit or a spreadsheet where you track all the pruchases for the materials needed for your business.

This chart of accounts will ensure you know exactly where every dollar is going without having to dig through hundreds of spreadsheets in your favorite office software.

For more information on implementing a chart of accounts, email me at admin@kylelittlejr.com so we can pinpoint all your cashflow!