How Accurate Are Your Books? Take This Simple Test

How Accurate Are Your Books? Take This Simple Test!

Keeping accurate books is crucial for the success of any business, but how confident are you that your records are spot on? Take this quick quiz to find out how well you're managing your bookkeeping!

1. How often do you reconcile your bank accounts?

• A) Every month, without fail.

• B) Every few months.

• C) Rarely, or only when there's a problem.

2. Are your invoices and payments up-to-date?

• A) Yes, they are always recorded immediately.

• B) They’re mostly up-to-date, but I might miss one occasionally.

• C) I often find myself playing catch-up with invoicing and payments.

3. How do you handle receipts and expenses?

• A) I record them immediately and categorize them correctly.

• B) I keep them in a drawer and enter them later.

• C) I’m not sure where all my receipts are.

4. Do you regularly review your financial statements?

• A) Yes, I review them monthly and know my financial position.

• B) I review them once in a while.

• C) I haven’t looked at them in months.

5. How confident are you in your tax preparation?

• A) Very confident, I have everything in order.

• B) Somewhat confident, but I usually stress about it.

• C) Not confident at all, it’s always a scramble.

Scoring:

• Mostly A's: Your bookkeeping is in great shape! Keep up the good work.

• Mostly B's: You're doing okay, but there’s room for improvement. Consider tightening up your processes to avoid future stress.

• Mostly C's: It’s time to take action! Your bookkeeping might be putting your business at risk. Consider reaching out to a professional for help.

Call to Action:

If you’re seeing too many B’s and C’s, don’t worry. It’s never too late to get your books in order. At Etgen Bookkeeping, I specialize in helping businesses like yours achieve financial accuracy and peace of mind. Contact me today for a free consultation!