Business · Financial

5 Steps to Set Financial Report Your Business

The existence of the financial statements in a business is a very important thing. Do not until you do not have the financial statements at all when managing a business, once the danger risks. Financial statement is needed in managing the business, how small the business. The problem sometimes is neatness in preparing a financial report has not been so organized and structured, especially in businesses that are managed individually.

financial report

May outline the existing financial statements are made, but it is often simply writing on a piece of paper, and it was more a kind of graffiti which is then dumped somewhere. Whereas financial report is very important to be arranged. If it is still difficult to prepare a financial report that is neat, consider the tips below.

1. Always check the Company Cash Every Day

You have to get used to this activity every day. Before doing the job, begin by checking the financial situation of the company’s cash. This needs to be done to determine how much funds owned business that day, make sure also that sufficient funds to operate the business the same day.

By doing this, your business can reduce the possibility of a sudden run out of operational money that will cause chaos financially towards your business. Try this serve as routine activity.

2. Check and Record Every Transactions There

You also have to get used to inspect and record every transaction that occurs in your business. You can do this any time terminate the work activity every day. Prepare a separate book to record every transaction in order to facilitate the examination. Make sure each memorandum, invoices, checks, or any small notes that are important neatly in one place.

This is done so that when the lid months you are not confused look it up for month-end reports. You need to remember that every transaction is recorded but is not accompanied by evidence such as receipts or memorandum, is considered invalid.

3. Recheck every transaction Every One Week

You can do this every week. So after a week business running wheel, while her you double check every transaction that has been carried out in the span of one week. Check debts effort, preferred to check that has matured in the week.

This is done to maintain a good relationship with your supplier. In addition, it is also to facilitate the mapping financially in your company that will be the end of the closing will be indispensable.

4. Immediately Complete Transaction Not Completed

When entering the work calendar month, you are recommended to consult more detail each transaction there. More focused on transactions that have not been resolved, if there is, then immediately resolved. Both related debts and receivables, the transaction is completed according to the schedules will simplify and clarify the financial statements you will make.

Do not delay, do this immediately in order to avoid the buildup of transaction reports that will be increasingly difficult to make the financial statements of your business. Make sure your monthly financial reports prepared every end of the month, which was recorded as a detailed transaction will accelerate in making your business reports.

5. Year-End Financial Evaluation Based on Monthly

After the step-step above your neatly stacking, then when the end of the year you will no more difficulty in preparing the financial statements of your business. You can make the year-end financial statements based on monthly statements that you have ever before stacking.

No different with monthly statements, year-end report also require statistical data and evidence of transactions. Making the year-end report will be easier if you already have the data needed. So when you have a monthly report each month, it will further accelerate the end of your work.

Prepare financial statements such as these require a high degree of accuracy. There is no harm if you use software or devices to improve the accuracy of the statements made. Nowadays there are many service providers application aide in preparing the company’s financial statements.