“Is Your Bookkeeping on Track? 7 Questions Every Business Owner Should Ask”

 

Whether you’re a brand-new business owner or you’ve been at it for years, it’s easy to lose track of the financial side when you’re wearing all the hats. If you’re wondering whether your books are in good shape—or if it’s time for a check-in—these 7 quick questions can help you find out.

 

1. Am I separating business and personal finances?

If you’re still using one bank account for both, it’s time to split them. Clean separation makes your bookkeeping (and taxes!) way easier.

 

2. Are my books up to date?

If you haven’t reconciled your bank statements in a few months (or more), now’s the time to catch up.

 

3. Do I know what I owe—and what’s owed to me?

Unpaid invoices and forgotten bills can snowball fast. Make sure you’re tracking accounts payable and receivable regularly.

 

4. Is my cash flow steady and predictable?

Sales might be up, but if you’re struggling to pay bills, that’s a cash flow problem. Regular reporting helps you spot issues early.

 

5. Do I have clean records for tax time?

The best time to prepare for tax season is before tax season. Are your income and expenses clearly tracked and categorized?

 

6. Can I read and understand my financial reports?

If your reports are collecting dust—or you’re not sure what they mean—it’s time to change that.

 

7. Am I doing my books myself (and is it stressing me out)?

DIY bookkeeping works for a while… until it doesn’t. If you’re spending too much time or making costly mistakes, bringing in help is worth it.

 

Need a Hand? Let’s Get You Back on Track.

At It All Adds Up Bookkeeping, I help business owners, farmers, and entrepreneurs get organized, stay up to date, and finally feel confident about their finances.