Accounting is the key to everything

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Many aspiring entrepreneurs are so inspired by their idea and so concerned with its implementation that they forget about financial accounting. The result is cash flow gaps, which can lead to debts, loans, and ultimately the collapse of the enterprise. Financial literacy expert Alexander Gamayunov explained how to avoid such a scenario.

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It is important to keep track of the numbers from day ecuador telegram database one, even before the project is launched – at the planning stage. And without any omissions – this is the only way you can clearly understand the financial state of the business.

One of the best ways to manage your finances is with a Microsoft Excel spreadsheet or its online equivalent.

How to keep a spreadsheet
The table must have at least two columns: income and expenses. Each must take into account all sources of income and reasons for expenses - not only the obvious ones like employee salaries and rent, but also the most insignificant ones, even one-time ones.
To make accounting meaningful, it is worth not only entering numbers into it, but also trying to plan. Write down the planned ones before the columns with actual income and expenses: for example, in January you are going to earn 500 thousand rubles, spend 250 thousand rubles. At the end of January, compare the resulting amounts with the planned ones and analyze where you had to go beyond the budget, and where you managed to earn more than expected.


This accounting format allows you to analyze the budget. Using the table, you can plan project income at the beginning of the month and evaluate operating profit at the end. If it turns out that the forecast was too optimistic or the earnings were less than expected for other reasons, then planning the next month will become easier: you will be able to see in time that adjustments need to be made to business processes.

Accounting can also become a tool for achieving financial goals: include in the income section those items that have not yet brought in money, but may do so in the near future. This will stimulate the development of new sources of income and help focus on the project's growth points.