Tracking my business...

Most SME owners do not make attention about their back office functions such as Book Keeping, Secretary works etc. As a result they have no idea about their day to day business operations. I asked from one business man who is a contractor, whether he calculate post costing for every site. He simply said, "No" and asked me How to admin this issue and gain benefit to the organization?

Simply think about your business. Do u have idea about your monthly expenses separately? can u compare your monthly expense with previous month? no know.. If you can compare your expenses, income with previous months, that will help you to make right decisions. Compare your accounts with previous period as well as competitors. Then track your real loophole like a doctor.

My previous article I talked about Budgeting, Believe you all follow me and exercise these best practices.

I personally use QuickBooks and some accounting softwares to manage my business accounting works. QuickBooks is an user friendly software that can use anybody even he does not have sound understanding about accounting.

If you have any question about this contact me..

Good Luck