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CHECKLIST: Managing Your Finances EffectivelyUse this checklist to help you manage your finances effectively. ….Action / CommentPut together a sound and realistic budgetMonitor your cashflow weeklyCheck your bank account and cash account dailyFocus on making salesInvoice as soon as work is completedChase late payersControl costsUpdate your records weekly (Remember, keeping clear, accurate and up-to-date records is a legal requirement)Keep all invoices, bank statements and business-related receiptsMake sure your terms of business are clear and your customers are aware of themKeep on top of your tax, VAT and National Insurance Contribution obligationsReact quickly if you anticipate cashflow problems ................
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