All companies have at least one Vendor .  Most companies have incomplete Vendor files. Do you suffer from this ailment?

SBA * Consulting has been in and out of over fifty businesses since its inception.  Moreover, without fail, every business at calendar year-end has had to do the Vendor 1099 shuffle.

What is the Vendor 1099 shuffle?  That is the overwhelming, time-consuming, deadline-looming, aggravating, blood pressure-raising period from sometime in December to January when you realize you aren’t going to be able to produce your IRS form 1099.

Vendor Database Maintenance

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Bank Reconciliation

Too often the start-up company doesn’t see a need to implement accounting and accounting controls.  They start their new company and run their business out of their checkbook.  Their check register and bank statement become their accounting system. Not only that, they never do a bank reconciliation.

This mode of operation is fraught with issues that can ruin a good idea faster than that speeding bullet.

How often do you do your bank reconciliation on your personal account?  Did you record all those checks? What about the zillion debit card transactions?  How do you know someone didn’t slip an unauthorized check or charge into the mix?

The picture to the right is a simplistic check register.  Not much different than the register’s that come with your checkbook.  So what’s wrong with this register?  I see several issues.  Most glaring is there are missing check numbers.  What happened to check 54356 and 54357?  Were they destroyed, are the saved for future use (and why) or did you forget to record them.  If you did use them, how much were they for?  Are you now in overdraft?

Or, did someone take the checks and commit a fraud?

Is your company checks and checkbook locked away?

Do you have a process for writing checks?

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