Basic Foundation For Your Home Business

Copyright © Alfonso DiLuca
http://www.SimpleGlobalCash.com

Sometimes the most basic information, the one we are sure we know by heart, is the one we never put in practice, and never apply. Taking control of these obvious steps makes a big difference in our lives, especially when starting a business from home.

Make sure you get a grip of these three tools right from the start.

Spreadsheet for Debits & Credits
Develop a spreadsheet for recording all the income and cash in hand, and all the money you owed. You can start by putting in separate columns the following categories:
(A) Bank Accounts (balances), Money you are expecting, etc. Continue with the columns by recording (B) the money you owed. Put in these categories the balances of your credit cards etc. By adding each column and then subtracting B from A you get your net worth number. Keep track of it. Focus on increasing that number.

Spreadsheet for Expenses
Develop this important spreadsheet to take control of all your everyday expenditure.
Start by putting the months in columns. Continue by putting in rows all the different categories of expenses. For example:
-Home mortgage, home expenses.
-Car payment, gas, tolls, insurance, repairs, parking.
-Health insurance, prescriptions, doctor visits.
-Credit cards.
-Business expenses.
-Other categories like restaurants, groceries, entertainment, dry cleaning, clothing, etc.
The more specific these categories are, the better it is. It will take some work to first create this tracking tool, but once you have it, it will take less than 10 minutes a day to update. There is nothing more useful than this spreadsheet to help you organize your finances and to help you keep a peace of mind. By adding these columns month by month you can start working on channeling your expenses in better ways.

Spreadsheet for Access
This is an important record that many times we take for granted. Develop a spreadsheet where you record all the usernames and passwords you use. It is necessary to include the following:
-Username
-Password
-Date of entry
-Monthly cost (if any), and date of charge
-Contact information

Implement these useful tools as soon as possible so you can save time later. When entering the information on a regular basis, file the receipts by categories in separate envelopes. This will make your life easier when the time comes to file your taxes.
If you knew all this, good for you. If you didn’t, do your business a favor, start now.

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