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Five tips for your book keeping

• Establish a fantastic relationship with a professional accountant person/or firm that can help you with your bookkeeping. It's important for you to focus all your energy on your business as early as possible. Ask other business owners which firm they hire, meet some people that can help you and make sure that the personal chemistry is right between you.

• Make bookkeeping as simple as possible from the beginning. If you hire someone to do your books , make sure you leave everything in an orderly condition. You will save yourself a lot of money if you supply all the supporting documents in the right order to the accounting firm, otherwise they will charge extra for having to clean up after you.

• Decide to do your accounting at certain times. If you don't like this particular part of your business, you know that you can stop feeling guilty for it if you always do the accounts on Tuesdays at 3 pm.

• Create a system to take control of the paperwork. Keep a few different folders for your receipts and invoices. This saves time and money.

• Keep all receipts. Even the smallest thing you buy for your business entity must be paid for by the company, not by you privately. Learn to distinguish between your personal and business finances. I say this again so you understand how important it is: Learn to distinguish between your personal and business finances. The IRS will not thank you for purchasing a box of printer papers as a private person and then throwing the receipt away.

About the author

Stefan Ekberg has worked in marketing for small business for 20 years and has written around 30 books on how small business owners can market themselves with limited resources. . In 2012 Stefan was nominated as Entrepreneur of the Year in Stockholm.

230 000 prescribes to his free newsletter "The 5 minute marketer"
Every week some 230,000 prescribers gets his free newsletter about 5 minute marketing.

"The 5 minute marketer" - the book
You run a small business and you want to get ahead of the competition, but how can you give resources to marketing when you're short on time and the budget is tight? The solution is here! The 5-Minute Marketer is packed with 395 tried-and-tested ways to market your business in 5 minutes or less.