Follow Up on Invoices and Receivables
Just because you’ve sent an invoice doesn’t mean you’ll get paid. Avoid overpaying on taxes and hours spent sifting through your revenue account and receivables listing by circling back with vendors who owe you money. Accepting online payments and using cloud-based accounting software can help automate this process for you.
Finance is the backbone of any business, so learning good small business accounting practices is a must. Get in touch with an accountant (if you don’t already have one) and ask them for the best place to get started!