Whether you have had your company for years or only a short time, have you done a good job in managing its money?

Some business owners are quite efficient at overseeing where the company money goes. For others, they could use a few tips on how to better manage money.

So, is it time for you to do a better job of keeping more of your company’s money?

Be Smart with Where the Dollars Go

In your efforts to be a better money manager moving ahead, remember the following keys:

1. Keep track of company money – While you may already be keeping tabs on your financial books, are you doing a good job? Some company owners get so busy with the day-to-day operations they can lose sight of the finances. Even if you have someone handling the books for you, you need to know what is going on with those books on a regular basis. That said do you know how your company expenses are dispersed regularly? Not knowing can lead to all kinds of financial issues. Do your best to be on top of this all-important facet of your business. By doing so, there is less chance for a surprise or two that could upset you and your company operations.
2. What it costs to run your company – Whether you have a small company or a larger one, it costs money to run it. With this in mind, are you getting the company deductions you are entitled to along the way? If you handle the company taxes on your own on a yearly basis, do you find the easiest and best means to get them done? It may well be worth your time to go on the Internet and search out the best tax software reviews. By finding a tax software program suited for you, you should have an easier time of doing your taxes. Keep in mind that there are many deductions you can make during the year related to your business. By finding and doing these deductions, you save your company more money over time.
3. Finding good deals for your company – It is also smart to find good deals for your company on a regular basis. As an example, the supplies you need and buy for your company should not cost you an arm and a leg. If you are paying too much for any particular supplies, see if you can get a better deal elsewhere. The deals you come up with allow you to save more money over time. With more money in your pocket, you can spend it on other things you need for your company. You could also invest some or much of it back into your company. While you may have vendors you like dealing with, if you can get better deals, do not hesitate to go after them.

So that your finances are not heading south as you run your business, do all you can to keep more of your company’s money.

Terry Gordon