5 FINANCIAL YEAR-END TIPS FOR SMALL BUSINESS OWNERS

Hey there hustler!

So it’s the start of the new financial year tomorrow in India. Even if you are a small biz owner and don’t come in the tax bracket, it’s a good practice to get your finances in order – it will be helpful in the long run and you get an idea of how much you actually earn in your business and changes you need to make.

You are here to grow your business and sooner you put good record keeping habits in place the more sorted you will be.

TIP #1: UPDATE YOUR EXPENSE & INCOME FOR THE LAST YEAR

If you start the year with discipline and record all your expenses and incomes from the beginning of the year – everything stays organized and you won’t be frazzled later in the year. It’s also a good idea to keep your personal and business finances separate even if you are a sole proprietor.


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TIP #2: TAKE STOCK OF YOUR INVENTORY