If you're planning on creating or already running a business and would like to venture a success, then your business financial management needs to be managed properly and systematically. Why financial management so important? Because in a business, there are various aspects related to money. For example, the purchase of raw materials, rental businesses, transportation, promotion, employee salaries, and many other things. All of that certainly requires setting and good financial management.
A robust effort managed only sometimes can be broken and resulting in saggy in spending. So imagine when the finances are not managed, will certainly add to therisk for the smooth running of Your business finance. For it, now we give you some tips that you can apply in regulating finance your business.
1. Separate your personal account with a business account
Open a new checking accounts that are specific to the business. This should be the first thing on Your to-do list. This needs to be done so that private money not mixed with company money
2. Specify a large percentage of businesses
After separating personal and business money money, then specify a large percentage of finance that will be used for the needs of the business. Such as what percentage of the money used for operational efforts, what percentage of profit is established, what percentage of the money to cash reserves, as well as what percentage of the money used for business development. This way can help you manage your business finances in accordance with the portion that has already determined the beginning of starting a business.
3. Controls the cash flow business
When your cash flow smoothly, then all obligations owed the company could also be fulfilled. Most of the business opportunities will be disrupted every operational,if cash businesses that there is not running smoothly. For that, don't forget to always control your business cash flow
4. Do check periodically for a stroke
This is intended to prevent manipulation or embezzlement of money at employees. Employees can just lie because it stroke that does not exist or other reasons such as the product has not been sold, it is therefore important to check periodically for a stroke.
5. Ask for help to calculate the financial report
Please do not hesitate to ask for help other people who are more expert in the field of finance, if indeed you are not able to manage their finances properly. In this way, surely will reduce the risks to your business.
6. Set aside profits to enterprise development
You are entitled to enjoy the benefits of your business, but that doesn't mean youshould spend it. You should still set aside some profits for the development effort.One of the important tasks of financial management is to maintain the viability of the business by encouraging and directing investments into profitable fields.
7. reduce the risk of Payables
Wherever possible, reduce the risk of your business debts. Develop business witha way indebted, it is allowed. But be careful with your debt, for when conditions are unfavourable business finance plus the presence of the burden of debt repayments, will only worsen the State of your business. For that, if existing income streamscannot yet meet the needs of business, as much as possible, reduce the risk of thedebtor. If you already owe but cannot pay off the debt, enlist the help of companies like amalan.id debt negotiator so that your debt is getting light to repaid.
8. create a bookkeeper with a neat
Not enough effort is managed based on memory, but with a full entry. At a minimum you must have the cash book that records out the influx of money. Then, match the daily balances of money with your notes. It aims to control all financial transactions, in terms of income, spending, and debt and receivables owned by the company. In addition a neat bookkeeping will also facilitate in evaluating the development effort.
So some tips for arranging business finance is good, so minimize the risk of losses in your business. May be useful and can be applied in your business.
