WHAT DO YOU GET WHEN YOU CONSISTENTLY MAINTAIN YOUR BOOKS?

READINESS —

[1] With accurate, detailed and up-to-date company information, you'll be equipped to make decisions, about:

  • how to grow your business
  • how to minimize expenses
  • what to delegate
  • what to stop doing
  • how much risk does a new idea really pose for you

Because you'll be able to see the financial impact of everything you're doing, you'll be in a position of strength. You'll see what you actually are accomplishing, what it's costing you and what money it's bringing in.

Without the records to inform you point of view, you may be over- or under-estimating the value (or cost) of doing business.

Reports generated off correctly-entered books may reveal some disconcerting facts about how much you're spending, or how little you're earning, but after the initial sting, you'll be in a position of strength from which to make better decisions about how to build your business. 

[2] You'll be easily able to reply to third-party requests for information.

This may not come up often, but when it does, when establishing a partnership with another vendor or client, being able to reply quickly and definitively to their inquiries represents you as competent, efficient and easy to work with. I'd choose you!

[3] And, you'll have everything in order for an audit.

Audits usually look at previous years, so while there may be nothing prompting the likelihood of an audit on your horizon today, things may change, so if you're managing your record-keeping now, you'll be all set then.

PEACE OF MIND —

Maintenance activities, like doing the dishes, laundry, exercising three times a week—or bookkeeping, may not be appealing, but not keeping up with them has an impact.

The to-dos we didn't get to clutter our minds. They leave a hum going in the background, reminding us to get to these things at some point. They cause you to waste mental energy (attention you could be turning elsewhere) and they debilitate your capacity in the areas you are attending to.

Maintaining a routine bookeeping practice leaves you 

clear-headed and free to pursue more stimulating and income-producing activities.