5 tips to get your manufacturing business’s accounting in order
TRANSCRIPT
TIP #1
To keep track of all deductible
expenses and save you hours
of work and re-work in the
future.
SEPARATE OUT YOUR BANK ACCOUNTS
Categorise every expense and track your cash
flow to help in saving and prioritizing spends
TRACK EVERY EXPENSE
TIP #2
Regularly go through and update
your company’s books of accounts
UPDATE YOUR BOOKS
TIP #3
TIP #4
Make it a point to write down
or keep a track of every penny
spent on factory floor wages or
paid towards such costs
ACCOUNT FOR LABOUR COSTS
TIP #5
Maintain proper records of
payment due to you, invoices
or receivables
MAKE SURE YOU GET PAID
If all else fails or if you find accounting too
daunting, hire a professional accountant!
THE MONEY YOU SPEND TODAY WILL SAVE YOU SO MUCH MORE TOMORROW!
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