Master Your Business Finances All Year With These Tips

This guest post is brought to you by Outright.com, the easiest way to manage your business finances online.

One of your New Year’s resolutions may be to organize your business finances – and keep them organized! Sometimes the latter is the difficult part, as organizing your finances is a one-time thing while keeping them that way is an ongoing struggle.

Luckily there are several things you can do to keep your finances in order all year long. Here are some tips to get you on your way.

Read Your Bills

This is great advice for not just your business life but personal as well – instead of blindly paying your bills every month, carefully read over them to see where all the money is really going. Don’t be afraid to change providers or cancel a card if you feel you can get a better deal. The only way you can figure out if you’re getting the best option is to read your bills!

It may seem like a chore, but it shouldn’t take more than a few minutes each month to go over each bill. It’s especially true with any business cards or accounts you have. Did the interest rate go up? Are there suddenly mysterious fees attached to your account? If so, shave off some expense by finding new solutions.

Take Pictures of Your Office

Want to keep your office in order? Then start snapping away! Pictures of your office can help in numerous ways, one of which is to assist with your taxes. You see, there are several deductions you get if you have a qualified home office, such as bills, supplies, and even rent/mortgage percentages. These things require proof, though, and pictures of what you currently own can help your accountant find all the deductions for which you qualify.

Setup Automatic Payments

Tired of checking off the list of bills to be paid every month? It definitely becomes a chore after a while, and can even be dangerous if you forget a bill one month. Instead of signing on to 50 different accounts or driving into town to write checks, set up automatic payments for your bills. More and more companies are offering these as an option, so take advantage! Mind you, if your business is operating on a month-to-month financial basis it may not be a good idea, as you may accidentally incur an overdraft.

Use Outright!

We can’t help but toot our own horn here – but what better way to get your finances in line by using Outright? We can help you not only figure out where you stand with your business finances right now, we can also get you on the path you’d like to walk. Instead of constantly worrying about updating your books and filing receipts, let us do the hard work while you reap all the benefits – and get back to doing what you do best, running your business!

Worried about tracking your expenses? Outright automatically imports your financial information from your bank account, PayPal, Meylah, Etsy and more. Sign up today for free Outright.com account through tax season 2012!

Main image courtesy of Dave Dugdale