The whole category in one page.
IMPORTANT NOTE
This is general information, not accounting or tax advice.
Take advice from a qualified accountant for your circumstances.
THE SINGLE MOST IMPORTANT CHANGE
Separate business and personal money completely.
Mixed money makes every other question unanswerable.
THE HABIT THAT MAKES IT WORK
Weekly, not annually.
An hour a week is manageable. Three days at filing time is avoided until it becomes a crisis.
WHAT MOST BUSINESSES OMIT FROM COSTS
Their own time, transport, data and airtime, and gateway and bank fees.
Understated costs produce overstated profit and underpriced work.
FOR GATEWAY PAYMENTS
Record the gross sale and the fee separately.
Recording only what settled understates both your income and your costs.
PHOTOGRAPH RECEIPTS IMMEDIATELY
Thermal receipts fade to blank within months.
RECONCILE THE BANK MONTHLY
It catches missing entries, errors, and unauthorised transactions.
INVOICE IMMEDIATELY AND CHASE FROM THE DAY AFTER THE DUE DATE
Ask for a specific payment date, not a promise to sort it out.
WHAT KILLS BUSINESSES
Running out of cash, not lack of profit.
Set aside money owed to others rather than spending it.
