Welcome to the “New Year”! If you are a small business owner and you are hoping to have a better year, it might be time to make a New Year resolution (not just some goals). Where to start? Some ideas might be improving business operations, increasing your understanding of QuickBooks and how to use it, or maintaining up-to-date record keeping (bookkeeping) so you will be able to regularly track your company’s progress.
Resolutions and goals are often used interchangeably, but they are very different especially in duration. A resolution is a promise to do something better. It requires making long term changes and continual effort to maintain them. A goal, on the other hand, is a target you want to reach or end point you can attain. Once you reach a goal, whether short term or long term, you generally cease working on it because you’ve achieved it. I like to consider goals as stepping stones needed to reach and maintain a resolution.
Some of the costliest mistakes I have seen small business owners do are failing to keep financial records current and accurate, not improving bookkeeping skills, or not take advantage of the capabilities of QuickBooks. Establish some goals to move you closer to attaining success:
- For one month, set aside one day each week (Monday is great) to input all transactions into QuickBooks or another accounting software for the preceding week. If you miss a week, catch up the next week and when you’ve made it through the month, set a goal for the next month. Before you realized it, the year will be over and your books will be complete and ready to turn over to your tax accountant.
- Seek specialists in QuickBooks to learn from. A QuickBooks Pro Advisor is an individual who regularly participates in training programs to increase his/her own understanding and experience with the software to better support the needs of small business users. If you don’t understand something, ask questions.
- Take one QuickBooks class and implement what was taught. Practice makes perfect. Then, take a second and a third. Logan and Cache Valley have individuals who offer affordable classes for the beginner to the advanced users of QuickBooks. Utilize their experience and training to grow your understanding and ability.
Let us help you with your business goals and resolutions. We can answer questions and give you training. YOU CAN DO THIS!