What do you plan to accomplish for the financial year? Accounting is the heart of developing financial goals. Where’s your heart? What are you focused on and what needs to happen not only to increase financials but to best serve your customers or clients? Remember people are the much (the most important). (Luke 16)
Use 2018 events and spending to help you plan for 2019. How much did you earn last year? Don’t just use your tax return to determine your earnings. The taxable income is not your gross revenue. Did you make a big purchase, or do you want to make a big purchase? Think of all the changes throughout the year.
We have accounting processes to help business owners apply consistent steps or tracking. Think of it as checks and balances. Learn more: B&P Business Service Page. https://bpaccountingsolutions.com/bp-services/
Internally accounting helps a business to stay financially organized and successful. When we understand our finances, we become good stewards and increase profits as well as manage taxes. We are less likely to get caught up in investment schemes and the greed of others.
Over the next two weeks, I will break down the elements of accounting to give you more insight into the process of accounting and why it’s more than taxes.
Y. Michelle Coard