It’s never the wrong time to get your books in order. So let’s quickly go through the four ways to make things tidy.

1. Clean up your expenses

Always maintain a difference between your personal and business expenses. Why? Two words: cash flow. Combined expenses can make you clueless about how your company is performing. Moreover at times of paying your taxes it will become pending homework – whether you are doing it yourself or with the help of a bookkeeper this will waste your resource.

Pro tip:

Instead of making transactions in tit and bits for using business money for personal expenses go for bulk transfers once a week.

2. Dust off your financial reports annually

Stay on top of your business's financial health by generating reports and looking at the numbers. When it comes to your finances keep a check on positive and negative trends. For this you can check areas including balance sheets cash flow income statements and accounts receivable/payable aging.

3. Toss out the paper

Embracing digitization is a must in 2022 if you haven’t already. Maintaining a book or paper document can be messy risky and time-consuming and are prone to threats like fire water and other hazards. By getting things online you can easily maintain bills and invoices and can save time.

4. Soak up the technology

It's well understood that as a small business owner you have a ton on your plate. But prioritizing things is a must you can never overlook your finances—that’s your bread and butter after all. QuickBooks is your safest bet to embrace technology—it can help to be tax-time ready all year. These digital software work as a huge asset such that you can put your head down this year and focus on growing your business.