Category Archives: Business Administration

7 Tricks in Managing Money When Doing Business

Every business that runs certainly requires good financial management and wisdom to be able to grow into large. In addition, good financial arrangements can certainly help your business get big profits.

But there are still many entrepreneurs who do not know how to manage good finances for the business that is run.

Here are some ways to manage the wise business finances that can be learned to manage business finances such as:

1. Knowing the Types of Business Expenditures

In a business, of course, a lot of expenses that will be encountered later. As an entrepreneur, surely you must know clearly what your business needs and wants.

There are at least five types of business expenses to keep in mind:

A. Urgent business expenditures and have important needs, such as primary needs such as raw materials, business premises, employee salaries, and other expense costs that can support the production of the business undertaken. This need is vital as it relates to your business activity. Surely this need must take precedence over others.

B. Urgent but less important expenditure, this need is like an additional capital. Although it has a good purpose, but when business conditions have not stabilized it would be better to avoid such expenditure.

C. Expenditure is important but not urgent, it is like an insurance program. Although important, but your business is not really need it. So it would be better if the money is used for important interests first.

2. Separating Private Money and Money

The important thing to do is to separate between personal accounts and business accounts. This is important for your money to be used as it should be. There are many entrepreneurs who can not separate private money from business money.

You can solve it by creating two accounts that are intended for business and personal. By separating personal money and business money, surely you can better measure the business development that is run.

3. Make a Financial Note

Try to make a financial note from cash to cash out. With this financial record can help to know the financial condition and can make you anticipate the occurrence of minus on business finance. In addition, you can also include the value of losses and profits that the business has.

4. Separate Between Accounting With Cashier

Although finance is held by the cashier, but at least do not tell the cashier to make a financial statement. It is a big risk to create manipulation that is certainly detrimental to your business.

For it would be better if you separate the accounting with the cashier to avoid the manipulation of financial statements.

5. Avoid Money Staying at Employees

Avoid the money condition of your business stay at the employee. This is certainly a big risk money is used for personal purposes.

Check Stock Goods

6. Routine Doing Stock Check Goods

Do a regular check of stock of your goods to know the condition of incoming and outgoing goods. Then match the condition of the real goods with your notes so that there will be no difference between them.

7. Do not Forget Investment or Saving

Investment and saving certainly need to start thinking by business people. But of course this can be done when all the essential needs have been fulfilled.

You can set aside some parts of the profits to use investments or savings that will help the business development run.

Manage Finance With Wisdom To Smooth Business Business

The key to success of any business that is run is if the business is able to manage its business finances wisely. With proper financial management will certainly make the business wheels continue to spin so that the profits will be maximized.

Take care every time you take action in your business, first think about the advantages and disadvantages gained before doing the action.…