Accounting for small businesses is one of those tasks that can easily get out of hand if not managed regularly. It’s an important part of keeping track of your assets and expenses. And like most people who’d rather hire an accountant, there are some accounting tips that can help you make doing it yourself easier.
Accounting Tips
1. Separate your business credit card from your personal credit card and your personal and business checking accounts. It’s easy to have a couple of credit cards on hand at any given time while shopping, but it’s best to keep the business credit card for purchases that are only for your business expenses. This will help separate any contradicting purchases you may have.
2. Document your transactions and inquiries daily. I know there are two methods of accounting – cash and accrual – but it’s good to document your transactions and possible sales. This will help you to follow up with inquiries and transactions. By keeping track of all your accounting transactions, you can simplify the process and ensure that everything is organized to ensure you’re getting paid for all your sales.
3. Set monthly sales goals. Setting goals is great for all businesses, but how does that relate to accounting? This tip is to set monthly financial goals during your monthly planning meeting, which can help determine how much you want to earn that month based on previous sales and expenses. When checking the previous month’s expenses, you are able to track future purchases and potential sales.
4. Be as detailed as possible in your accounting. Avoid multitasking while calculating expenses. Even if you have clients or customers with lots of small purchases, record each purchase along with a brief description, as well as all checking transactions in your accounting system. Freelance writers who write for multiple clients have a better chance at tracking article sales when they record each article they have submitted to a client. Being detail-oriented can help when identifying specific trends among clients. If you work in an auto parts store, you might be able to find what a client normally purchases and how often your client purchases an item when reviewing your accounting reports.
5. Have the best accounting software. We all know the popular QuickBooks accounting software, but did you know there is other accounting software that might be tailored to fit your business needs? When managing your own accounting, it’s essential to select the best accounting software for your business, as it can help minimize the time spent on accounting and may offer features tailored to your specific industry.
Is Outsourcing Checking Printing the Answer for Your Company?
Despite technological advancements worldwide, paper checks continue to be used for accounting purposes. As we live in a world where most things are handled online and in digital formats, the productivity, efficiency, and safety of checking and printing have become increasingly important.
It is more important than ever, given the higher risks of fraud and theft. There is also a higher importance because an integration with paper checks and electronic payments is needed – a new form of the checking process.
When you have an accounts payable automation outsourcing system in place, your business will be able to enjoy a reduction in costs, a process that will be streamlined, and better security – all which will help your bottom line accounting. You can eliminate the process of preparing your checks because you will now have a system that automatically uploads payment information. After the payment information has been uploaded into the system, the checks will be printed, and you can then disburse them.
You can have the functions and features that will meet the specific needs of your business. It is important to maintain the integrity, safety, and efficiency of your business. Your success should be our top priority; we want to assure you that you will have access to the latest features regarding your physical checks.
When you have a coordinated approach to managing your check printing, you can allocate your time and energy to other valuable pursuits that help your business succeed. You should not have to spend precious time and energy on figuring out how to efficiently print checks, especially when you can outsource this task.
We understand that outsourcing is not the answer to all of your company’s problems. However, outsourcing check printing can provide your business with additional savings, and you can be free from those headaches.
How To Make Your Accounts Payable Department a Winner
Accounts Payable. The words alone scream BORING. Sorry, but they just do. This department is often overlooked by business owners and executives. Since Accounts Payable doesn’t feel directly related to the product or services’ function, it is often overlooked during meetings looking for ways to improve the business.
However, the truth is that much of your business can be improved when your Accounts Payable department is functioning at a high level. And that, my friends, should be your priority as a business operator. Let’s examine a few ways to make this happen.
Keep things simple
Keep the number of check runs to a minimum. Complicating this matter can put undue strain on your staff and make it impossible to remain efficient.
Make use of accounting software that can help you achieve your goals
Paying incorrect amounts or not paying on time is easy to do. You should also properly track identifiers for those you payout so you can correctly categorize them in a way that makes sense on a quarterly basis. All too often, doing things the old-fashioned “manual” way isn’t a great solution in these hectic times.
Brand checking professionally
Checks are money. Anything related to finances should be taken seriously. When you send out generic checks, your business can appear somewhat lackluster and unprofessional. You want clients and vendors to view your company as a well-oiled machine with a consistent brand identity, including branded checks.
Tips to Prevent Fraud
Whenever a company handles checks, it exposes itself to the risk of fraud. It’s that simple. Check fraud remains a significant business for criminals and swindlers worldwide. If your checks aren’t secure, criminals can expose your shortcomings and profit big. This means your company loses.
So then what’s the solution for making your accounts payable department that well-oiled machine we spoke of earlier? For starters, you’re already in the right place: Check Issuing is a solution for many businesses that seek to improve their payroll processing outsourcing and protect themselves from potential fraud threats. Check Issuing means automatically making your checks look a lot more professional.
Resources
Principles of accounting
10 basic accounting principles
Restaurant accounting guide
Last updated: October 2025