Daily bookkeeping entries are essential

The bookkeeping entries made into your system are cash receipts, daily transactions, bill pays, and invoices. This covers everything from income to expenses and are all categorized in the Chart of Accounts. This is how we track the money we spend or take in on a daily basis and how we are able to know what financial decisions we can make for the next day, week, month or year. In order to have this clear of a financial picture, the entries you make have to be done on a regular basis. This does not necessarily mean that you have to take the time to complete these entries daily or hire an employee to do so; However at most, entries should be made weekly so that you are able to see what financial decisions are available.