Following are the highlights of Finance:

• If a business does not guard or keep track of its finances, it won’t be in business for very long. 

• It is best to have one person (NOT necessarily the entrepreneur) responsible for being a guardian of the bank account. The account should be protected by reconciling it often. 

• If you are to be useful in this area, you must understand your own relationship with money.  If you are asked to help, be consistent and accountable. 

• Bookkeeping is about balancing, tracking, writing down spending, saving and paying bills. Expert bookkeepers are very helpful in finding errors and waste. Use them. 

• Quickbooks is a good tool as it provides many ways to track spending. It can also be limiting in tracking inventory or keeping up with software changes.

• Invoicing should make it EASIER for your customers to pay you. There are many online software tools for invoicing. Find one that suits the business.

• If you are on top of helping the entrepreneur organize his business, including his expenditures, you can help save a LOT of money at tax time. 

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