Protect your Assets...

I've been in business for over 21 years now. All too often small business owners are too willing to turn over the "Keys to the Kingdom" by delegating too much of the financial management of their businesses. This is one of "THE" most important aspects of being in business that you must embrace and educate yourself in.

You do need to understand your financial statements and how the cash flows through your business. You do need to delegate the mundane tasks, and separate duties never allowing anyone of your employees full access to the accounting. YOU do need to review your own bank statements. You need to remain in control of the check signing authority. You can set aside sums of cash for petty cash expenses for your office, hold an employee responsible for reporting all expenses to you.

Cover your assets my friends, don't become another "news item" where the headline reads "Bookkeeper Embezzles"...