As a cabinet shop owner, you’re going to have to keep up with a few small accounting details in relation to the business. Bookkeeping needs to be attended to on a monthly basis. In my case, I was well taught in fabricating kitchen and bathroom cabinetry but had little formal training in any type of accounting.

Programs are available where you can set up a monthly package pick-up service and delivery of your company’s financial activities. The accounting firm will basically do almost everything for you except write the checks for the taxes and bills that are due.

Once I had the accounting system down, all of the required paper work tasks where easily manageable. My monthly responsibilities included keeping track of all the receipts, paying the local sales tax and IRS taxes that was due, writing a category code on each check and balancing the check book. That was all the book keeping that I had to do every month. read Bookkeeping Cabinet Shop

There are dangers in business that can catch you off guard. One of them is having an undisciplined debit card. This became a problem with the cabinet company that I was associated with. The downfall would happen when business was booming and it seemed as though there was an endless supply of money on hand. read Debit Card Cabinet Business