{"id":4112,"date":"2014-02-05T10:16:44","date_gmt":"2014-02-05T18:16:44","guid":{"rendered":"http:\/\/www.nationalfunding.com\/?p=4112"},"modified":"2023-09-13T11:27:11","modified_gmt":"2023-09-13T18:27:11","slug":"organize-finances-accounting-2014","status":"publish","type":"post","link":"https:\/\/www.nationalfunding.com\/blog\/organize-finances-accounting-2014\/","title":{"rendered":"How To Organize Your Finances and Accounting for 2014"},"content":{"rendered":"<p>January is the first month in the tax year for many companies. Here are some ways to make the most of the new year to get your company financially organized.<\/p>\n<h3>Get your accounting squared away<\/h3>\n<p>Fox Business recommends that you <a href=\"https:\/\/smallbusiness.foxbusiness.com\/finance-accounting\/2014\/01\/13\/smart-business-banking-how-to-get-your-finances-in-order\/\" target=\"_blank\" rel=\"noopener noreferrer\">hire a CPA<\/a> to do your accounting for you. You shouldn&#8217;t only consider your tax accounting but also have your CPA compile records and monthly financial statements in compliance with GAAP. Many banks will not lend to you unless they see financial reports like that, although this is not necessarily true for <a href=\"https:\/\/www.nationalfunding.com\/solutions\/alternative-lending\/\">alternative lenders,<\/a> who often work quickly and do not require so much information. Fox also suggests that you keep track of your accounts daily. This means ensuring that you know where everything in your account book is going.<\/p>\n<h3>Focus on your cash flow<\/h3>\n<p>The ability to <a href=\"https:\/\/www.nfib.com\/article\/cash-is-still-king-when-it-comes-to-running-a-business-63499\/\" target=\"_blank\" rel=\"noopener noreferrer\">predict your cash flow<\/a> will set you apart from your competitors, according to an article by the National Federation of Independent Business. The easiest way to do this is to make estimations of how much money you plan to spend and what your revenue stream will look like. Look to prior months and years to see what the pattern has been for your business in the past, and think about how future economic trends will impact what you do. Create a &#8216;best case&#8217; and &#8216;worst case&#8217; scenario for each cash flow estimation. Figure out how much money you will need to spend each month just to stay in business. Once you&#8217;ve begun making estimations, see how they shape up in comparison to the actual numbers. If you are consistently under or overshooting, then factor that into your guesswork.<\/p>\n<p>After making these estimations, you should build yourself a cash cushion to help you in case anything unexpected happens.<\/p>\n<p>If you find yourself needing extra help securing cash flow for your business, consider <a title=\"Getting A Small Business Loan\" href=\"https:\/\/www.nationalfunding.com\/small-business-loans\/\">getting a small business loan<\/a> from National Funding, which can extend quick financing of up to $250,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Two ways of improving your finances this year include keeping careful track of your account books with a CPA and watching your cash flow.<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[88,26,114,14,30],"class_list":["post-4112","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-accounting-for-small-business","tag-alternative-lenders","tag-managing-your-cash-flow","tag-small-business-loans","tag-taxes"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How To Organize Your Finances and Accounting for 2014<\/title>\n<meta name=\"description\" content=\"January kicks off tax season for many small businesses; hiring a CPA and focusing on cash flow can ensure entrepreneurs are financially organized.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.nationalfunding.com\/blog\/organize-finances-accounting-2014\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How To Organize Your Finances and Accounting for 2014\" \/>\n<meta property=\"og:description\" content=\"January kicks off tax season for many small businesses; hiring a CPA and focusing on cash flow can ensure entrepreneurs are financially organized.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.nationalfunding.com\/blog\/blog\/wp-json\/wp\/v2\/posts\/4112\" \/>\n<meta property=\"og:site_name\" content=\"The Bottom Line by National Funding\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/national.funding\/\" \/>\n<meta property=\"article:published_time\" content=\"2014-02-05T18:16:44+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-13T18:27:11+00:00\" \/>\n<meta name=\"author\" content=\"The Bottom Line\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@NationalFunding\" \/>\n<meta name=\"twitter:site\" content=\"@NationalFunding\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"The Bottom Line\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.nationalfunding.com\/blog\/organize-finances-accounting-2014\/\",\"url\":\"https:\/\/www.nationalfunding.com\/blog\/organize-finances-accounting-2014\/\",\"name\":\"How To Organize Your Finances and Accounting for 2014\",\"isPartOf\":{\"@id\":\"https:\/\/www.nationalfunding.com\/blog\/#website\"},\"datePublished\":\"2014-02-05T18:16:44+00:00\",\"dateModified\":\"2023-09-13T18:27:11+00:00\",\"author\":{\"@id\":\"https:\/\/www.nationalfunding.com\/blog\/#\/schema\/person\/c6f0fd9aaf7647ec3d2fa13f4c2777c6\"},\"description\":\"January kicks off tax season for many small businesses; 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