5 Simple Ways to Get Your Business Finances Under Control This Month
Feeling overwhelmed by your business finances? Here are 5 simple, bookkeeping steps you can take this month to get organized, reduce stress, and stay in control.
8/19/20251 min read
If your business finances feel more like a tangled mess than a well-oiled machine, you’re not alone. The good news? You don’t need a finance degree or a 40-hour workweek dedicated to bookkeeping to get things under control. A few simple steps this month can make a huge difference—and future-you will be so thankful.
Here are five ways to wrangle those numbers and breathe easier:
1. Reconcile Your Bank Accounts (Yes, Really)
This might sound boring, but it’s like doing your laundry—you’ll regret skipping it. Reconciling your bank and credit card accounts makes sure everything matches up and nothing sneaky (like duplicate charges or missed payments) slips through the cracks.
2. Categorize Transactions in Real Time
Instead of letting receipts pile up in a shoebox (or the black hole of your car’s glovebox), log into your bookkeeping software (QuickBooks, Wave, Freshbooks, etc.) once a week and code those transactions. It’ll save you hours later—and stop you from panicking at tax time.
3. Set Aside Money for Taxes
The IRS does not play around. Get in the habit of moving a percentage of your income (30% if you're self employed) into a separate account each month. That way, when taxes roll around, you’re ready. No scrambling, no scary surprises.
4. Know What You’re Owed (and What You Owe)
Take a quick look at your accounts receivable (money coming in) and accounts payable (money going out). Late invoices and unpaid bills can choke cash flow, so staying on top of both helps keep your business breathing.
5. Review Your Financial Reports
This one is easy to skip, but so valuable. Once a month, sit down with your profit and loss statement and balance sheet. Don’t just glance—look at trends. Where’s your money really going? What’s working, what’s not? These reports aren’t just “for the accountant”—they’re your business’s roadmap.
Bottom line: Getting your finances under control doesn’t have to be overwhelming. A few small, consistent habits can save you time, stress, and even money. And breathe. You got this.
