Preparing proper bookkeeping and financial recording is crucial for the growth and sustainability of Small and Medium Enterprises (SMEs/UMKM). It enables them to track their financial performance, make informed decisions, and comply with tax regulations.
Choose Accounting Method
Start by selecting an appropriate accounting method, whether it's cash-basis or accrual-basis, depending on your business needs and preferences.
Select Record-Keeping System
Determine the system you'll use to record your financial transactions, whether it's manual, spreadsheet-based, or utilizing accounting software.
Identify and Categorize Transactions
Classify and categorize all financial transactions to ensure accuracy and organization in your records.
Create Income and Expense Lists
Develop detailed lists of income and expenses to track your business's financial activities effectively.
Bank Reconciliation
Regularly reconcile your bank statements with your accounting records to identify any discrepancies and ensure accuracy.
Separate Personal and Business Finances
Maintain distinct separation between personal and business finances to avoid confusion and facilitate clear financial reporting.
Organize Payment and Receipt Cycles
Establish structured processes for managing payments from customers and expenses to suppliers to maintain financial stability.
Monitoring and Analysis
Continuously monitor and analyze your financial data to identify trends, make informed decisions, and improve financial performance.
Consultation and Support from Accounting Firm
Partner with KJA PT Sazanka Finansial Advisor for expert consultation and support. Benefit from our "Start from 1M" promo for businesses with turnover below 1M. Get Accounting and Tax Reporting services worth Rp 1M for the first 6 months, inclusive of Accounting Software.
Once again, it is crucial for SMEs/UMKM to prepare a system for bookkeeping and financial recording. The steps above not only assist SMEs/UMKM in monitoring cash flow and financial health but also provide more comprehensive information to devise more effective and efficient business strategies.
Talk to Our Expert :
Hananto Pandu SE., S.Kom., Ak., CA., CPA., ASEAN CPA. - 0896 3626 1684
Houtman Tua Sihite SE., Ak., CA.
Best Regards,
KJA PT Sazanka Finansial Advisor
Menara Karya Lt 28
Jl. HR Rasuna Said Kav 1-2
Jakarta Selatan