Small business owners are faced with challenges and risks they’ve never had to anticipate, but they can survive and thrive in year one and beyond if they plan accordingly.
Small business owners should always know their numbers, says Jennifer Barnes, CEO of Optima Office.
“Once you have an idea of your cash flow, you can better budget your expenses,” said Barnes. “It’s highly recommended to also put together an annual budget and run budget to actual reports monthly. Make sure your financials are always up to date and you are reviewing your results monthly, ideally by the 15th of the following month.” - Jennifer Barnes
Read the full article at Yahoo! finance
If you need assistance with understanding your numbers, the Accounting experts at Optima Office are ready to help.
