Accounting.

Accounting.

It has come to my attention that most people do not keep a record of the transactions that take place everyday in their business.This is the biggest flaw in business. Busineses should have at least a book where they write down where the money is coming from or where it is going. This is called financial statements .

One has to know how much they receive on a daily basis, how much in a week and how much in a month. 

Look you must know your finance like the palm of your hands.You must know days when business is less productive and days when business is booming. keeping a book where you write these things helps with this information.

Most of you do not have a budget for different reasons. But a budget shows estimated income and expenses and one must work towards achieve these figures. This is how you keep progress of your finances.

Having done this it will help with future funding requirements, investors will want to see how much you know your business and how much you are making, this then determines the level of risk they are taking to fund your business.

Therefore keep a record of all your transactions .