Wednesday, May 26, 2010

Needing a Boutique Bookkeeper

One of the common mistakes of failed establishments is the fact that they don't account their income against their operational costs and others. I don't want to go all our resources and business to the sewerage, so, I make sure that I keep records of every transaction I know. And, since the rest of the family pulled all their resources to start the business, I can only be accountable of all their investments and possible earnings.

However, family members had personally used the cash and stuffs from the boutique and I know this is not good at all. I am even personally guilty although I am paying my own dues too.

With the increasing stocks and transactions of sales, credit and expenses, my humble brain is quite challenged. Thus, I leave it to a professional bookkeeper to do the works. With a professional fee, I know I can see well how the business is doing.

If one really wants to have more savings, may it be in business or at home, you can have only two ways: increase revenues or cut costs. Thus, it pays to have special skills or trainings like energy auditor training to help you cut costs.

I have my basic knowledge in accounting but this is not sufficient to know the in's and out's of accounting. I guess I just have to leave the works to someone who is more competent and sane.