What You Should Do, But Won’t
We know the thought of reconciling bank statements every month feels dreadful. And “quick books updates” aren’t so quick in reality. Vital administrative money tasks pile up through avoidance, until tax stress hits. There’s too little time and tons of buried receipts to uncover!
But ditching unrelenting money chores won’t serve your business well in the long run. Staying on top of monthly money maintenance makes tax season smoother and often uncovers hidden savings your enterprise desperately needs.
Here are those tedious but essential monthly money steps to take:
While just breaking even keeps most solopreneurs content, reviewing earnings less expenses often reveals opportunities to retain more profit before tax time through strategic pivots.
Verifying all those digitized transactions match real activity protects against gross financial mishaps from ever happening unnoticed.
Every Single Transaction Tracking income and expenses in detail means taxes and savings make sense later. Skipping records now costs you dollars down the road.
