Consistency over effort.
THE PRINCIPLE
A little, often.
A year recorded at filing time takes days and produces errors.
WHAT TO DO DAILY
Keep receipts Note cash transactions
WHAT TO DO WEEKLY
Enter income and expenses File supporting documents Check the bank against your records
WHAT TO DO MONTHLY
Reconcile the bank account fully Review outstanding invoices Review what you owe Look at the figures
WHAT TO DO QUARTERLY
Review against the previous period Check nothing is missing Send records to your accountant, if that is the arrangement
WHAT TO DO ANNUALLY
Prepare for filing Review pricing against actual costs
HOW LONG THE WEEKLY TASK TAKES
For a small business, under an hour.
WHY THAT MATTERS
An hour weekly is manageable.
Three days annually is avoided until it becomes a crisis.
WHAT TO FIX IF YOU FALL BEHIND
Start from today, then work backwards.
