Chapter 19. (Almost) Ten Tips for Business Owners
In This Chapter
Supply your own signature
Don't sign a check with a scrawl
Look over canceled checks before your bookkeeper does
Select a QuickBooks bookkeeper
Understand that cash-basis accounting doesn't work for all businesses
Know what to do if QuickBooks doesn't work for your business
Keep things simple
If you run a business and you use QuickBooks, you need to know the information in this chapter. You can get this information by sitting down with your certified public accountant (CPA) over a cup of coffee at $200 per hour. Or, you can read this chapter.
Sign All Your Own Checks
I have nothing against your bookkeeper. In a small business, however, people — especially full-charge bookkeepers — can bamboozle you too darn easily. By signing all the checks yourself, you keep your fingers on the pulse of your cash outflow.
Yeah, I know this practice can be a hassle. I know that you can't easily spend three months in Hawaii. I know that you have to wade through paperwork every time you sign a stack of checks.
By the way, if you're in a partnership, I think that you should have at least a couple of the partners co-sign checks.
Don't Sign a Check the Wrong Way
If you sign many checks, you may be tempted to use a John Hancock–like signature. Although scrawling your name illegibly makes great sense when you're autographing baseballs, don't do it when you're signing checks. A clear signature, especially one with a sense of personal style, is distinctive. ...