218: When is the Right Time to Track Your Business Finances?

When is the Right Time to Track Your Business Finances?

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Running a business is like running a good household and your life. So if you want to have good business income, you want to make sure you're set up that way by looking at your finances, by planning in advance, by budgeting, if you can.

Janine Kelbach
As an online service provider, like a freelance writer, it’s important to track your business finances regularly to ensure you are staying on top of your income and expenses.
 
So in this episode, “we aim to address the burning question:
 

“When is the most opportune moment to keep a close eye on your business finances?”

 
  1. Daily – if you are managing a large volume of transactions or you have a lot of ongoing projects, it can be helpful to track your business finances on a daily basis.
  2. Weekly – set aside a specific time each week to review your income and expenses and update your records.
  3. Monthly – if you have a small volume of transactions, maybe one or two projects. You still want to check it at least monthly to make things sufficient.
 
Listen to this episode for more tips on managing and tracking your business finances!

Ways to Track Your Business Finances:

  • Use accounting software like Quickbooks
  • Hire a bookkeeper
 
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