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	Some Quick Tips from our members from Courtney Bedard courtney@empower-dreams.com GIRLFRIENDS!! I ask you--Where would we be without our girlfriends? When we need to vent, find a shoulder on which to have a cry or if we are looking for unconditional support and adoration, where do we turn? If we have something to celebrate and we need someone to cheer or if we have this "thing" we just can't seem to get over, who is there to listen? With whom can we be totally at ease because they have seen us at our worst and they still love & support us? OUR GIRLFRIENDS!! Find some time to have some "coffee talk" with a friend...even a quick phone call is guaranteed to energize your day! A few quick Bookkeeping tips to start the New Year right by - Deborah Bettencourt President Lighthouse Financial Services Keep Good Records Many business owners don't keep good records. Some don't understand bookkeeping; others understand it, but may be afraid of what the numbers might tell them. Think of it this way--bookkeeping is the glue that keeps your business together. If your records aren't in good shape, the business could fall apart. A healthy business is monitored through its records on a regular basis so you can find problems and correct them before it's too late. Bank Account Statements When opening a business checking account, you should request a statement with a month-end cut-off date. This will save you time when reconciling your records with the bank statement every month. The closer the cut-off date to the month end, the fewer checks you will need to record as outstanding. And don't to toss those bank statements and canceled checks into a filing cabinet without reviewing them. Resist the urge to do this! As soon as your statement arrives, review it before anyone else sees it, including your bookkeeper or employees. That way you can catch unauthorized checks. Petty Cash Box Almost all small businesses make small cash purchases. You may want to set up a Petty Cash Box to keep control of those purchases. Get yourself a metal cash box and put in currency and coin that totals $100.00, for example. . This will be your starting point. The value of this box should remain at $100.00 at all times. Perhaps you or your employee purchases a notebook at the local office supply store for $5.00, using money from the Petty Cash Box. When you get back to the office you will put your receipt in the box. Now you should have $95.00 in currency and one receipt for $5.00. The value of your box is still $100.00. You can continue using the Petty Cash Box until you run out of cash. Then replenish the box by writing a check for "Cash", expensing all the receipts, and cashing the check at the bank. After you cash the check, the new currency and coin go into the Petty Cash Box, so you'll be starting again with $100 in the box. Storage Boxes for Each New Year. Keep all your records for one year in one box. You can put a copy of your tax return, bank account statements with cancelled checks, your BIG E-Z(r) Paper System and BIG E-Z(r) Receipt Storage Book, financial statements from your accountant, your paid bills and all other backup for that year in one box. Label it with the year and contents on the outside of the box. Then store it somewhere accessible. Deposit That Cash Right Away Get into the habit of depositing all cash immediately at the bank or credit union once it is received. This ensures that all income will be properly recorded. Maintain daily records Think about it. If you don't have time to do a little bookkeeping each day, when will you find time to record a month's or a year's worth of records? Different people use different record-keeping systems; what matters most is that you have a system and use it daily. Credit Unions Some credit unions offer business checking accounts at lower rates than most banks. Check it out the next time you need to reprint checks Don't over-categorize. Most of us tend to make things harder than they need to be. For instance, when categorizing office supply expenses, we don't need separate categories for fax paper, letterhead and printer cartridges, etc. All these items can simply be listed under Office Supplies. Debbie Bettencourt Lighthouse Financial Services, Inc. "Your Guiding Light to Financial Freedom" 2845 Post Road - Suite 138 Warwick, RI 02886 Tel: (401) 921-0902 Fax:(401) 921-096 Any member who wishes to post a tip, please contact roberta@riwomensnetwork.com

from Courtney Bedard
courtney@empower-dreams.com
GIRLFRIENDS!!
I ask you--Where would we be without our girlfriends?

When we need to vent, find a shoulder on which to have a cry or if we are looking for unconditional support and adoration, where do we turn?

If we have something to celebrate and we need someone to cheer or if we have this "thing" we just can't seem to get over, who is there to listen?

With whom can we be totally at ease because they have seen us at our worst and they still love & support us?

OUR GIRLFRIENDS!!

Find some time to have some "coffee talk" with a friend...even a quick phone call is guaranteed to energize your day!

A few quick Bookkeeping tips to start the New Year right
by - Deborah Bettencourt
President
Lighthouse Financial Services

Keep Good Records
Many business owners don't keep good records. Some don't understand bookkeeping; others understand it, but may be afraid of what the numbers might tell them. Think of it this way--bookkeeping is the glue that keeps your business together. If your records aren't in good shape, the business could fall apart. A healthy business is monitored through its records on a regular basis so you can find problems and correct them before it's too late.

Bank Account Statements
When opening a business checking account, you should request a statement with a month-end cut-off date. This will save you time when reconciling your records with the bank statement every month. The closer the cut-off date to the month end, the fewer checks you will need to record as outstanding. And don't to toss those bank statements and canceled checks into a filing cabinet without
reviewing them. Resist the urge to do this! As soon as your statement arrives,
review it before anyone else sees it, including your bookkeeper or employees.
That way you can catch unauthorized checks.

Petty Cash Box
Almost all small businesses make small cash purchases. You may want to set up a Petty Cash Box to keep control of those purchases. Get yourself a metal cash box and put in currency and coin that totals $100.00, for example. . This will be your starting point. The value of this box should remain at $100.00 at all
times. Perhaps you or your employee purchases a notebook at the local office
supply store for $5.00, using money from the Petty Cash Box. When you get back to the office you will put your receipt in the box. Now you should have $95.00 in currency and one receipt for $5.00. The value of your box is still $100.00. You can continue using the Petty Cash Box until you run out of cash. Then replenish the box by writing a check for "Cash", expensing all the receipts, and cashing the check at the bank. After you cash the check, the new currency and coin go into the Petty Cash Box, so you'll be starting again with $100 in the box.

Storage Boxes for Each New Year.
Keep all your records for one year in one box. You can put a copy of your tax
return, bank account statements with cancelled checks, your BIG E-Z(r) Paper
System and BIG E-Z(r) Receipt Storage Book, financial statements from your
accountant, your paid bills and all other backup for that year in one box. Label it with the year and contents on the outside of the box. Then store it somewhere
accessible.

Deposit That Cash Right Away
Get into the habit of depositing all cash immediately at the bank or credit
union once it is received. This ensures that all income will be properly
recorded.

Maintain daily records
Think about it. If you don't have time to do a little bookkeeping each day, when
will you find time to record a month's or a year's worth of records? Different
people use different record-keeping systems; what matters most is that you have
a system and use it daily.

Credit Unions
Some credit unions offer business checking accounts at lower rates than most
banks. Check it out the next time you need to reprint checks

Don't over-categorize.
Most of us tend to make things harder than they need to be. For instance, when
categorizing office supply expenses, we don't need separate categories for fax
paper, letterhead and printer cartridges, etc. All these items can simply be
listed under Office Supplies.
Debbie Bettencourt

Lighthouse Financial Services, Inc.
"Your Guiding Light to Financial Freedom"
2845 Post Road - Suite 138
Warwick, RI 02886
Tel: (401) 921-0902
Fax:(401) 921-096