If you are a new entrepreneur or a business owner with more experience, taking control of your finances can feel like a part-time job. Some simple tips can help you optimize your time, organize your finances and reduce the stress of business money matters.

1. Keep your bills in one place

When the mail comes, make sure it goes in one place. Bills out of place may be the cause of late fees unwanted and can damage your credit rating. Whether in a drawer, a box or a file, be consistent. Size also is important. If you get a lot of mail, use an area not fill up quickly.

2. Pay your bills on List

Payment of accounts can be simplified if done at scheduled times during the month. Depending on how many bills you receive, you can establish set times each month when none of your bills will be late. If you're paying bills as you receive them, it is likely that you are spending too much time in front of the checkbook. Although the accounts of the State can 'payable upon receipt', there's always a grace period. Call your lender to find out when to receive payment before the bill is considered late.

3. Read your credit card

Most people take advantage of the card offers low interest credit, but never read their statements when paying the bill. Credit cards are notorious for using low interest as bait for new customers then switching to higher rates after a few months. Make a habit of looking at your statement carefully to see what interest rate you are paying each month and if the transaction fees have been implemented. If the rate increases or a transaction fee appears on your statement, a simple call to the credit card company can often be beneficial in resolving the issue. If not, try changing your money to a more favorable rate.

4. Take Advantage of Automatic Payments

Most banks offer a way to automatically deduct money from your account to pay creditors. In addition, creditors typically offer a lower interest rate when you register for this payment option because it's quicker and on time. Least consider it as a control to write, envelope to lick and stamp to buy. Just make sure you record the deduction when the automatic payment is scheduled, or you run the risk of rebound other controls.

5. Computerize your checkbook

Using a software program is a handy way to organize your finances. Whether it's Quicken (R), Microsoft Money (R) or another package, these easy to use programs make bill paying and bank reconciliation easy. Computer controls can be ordered almost anywhere and fit right into most printers. Once the checks are printed, all information is automatically recorded in your electronic checkbook. Furthermore, many banks have direct downloads into these software packages so when money is deposited or withdrawn, is entered immediately into the computer. And when it comes to taxes, could not be easier.

6. Get overdraft protection

Most banks have a service where, if we run the risk of bouncing a check, the money will come from another source. For a nominal fee, the bank will link to your checking or savings account, money market, or credit card to the embarrassment of bouncing a check will be avoided. Call or visit your bank to learn about this convenient feature.

7. Cancel unused accounts

Whether a credit card or bank account, write a letter requesting that the account is formally closed. This will not only improve your credit score is a useful way to keep money from being scattered all over the place. Do not let department stores and credit card companies lure you into opening new accounts by offering favorable interest rates and purchase discounts. It's easy for credit to get out of hand, take every credit offer that comes your way.

8. Consolidate your bills

If you have several credit card accounts with outstanding balances, try to consolidate them into one. Be careful and check the balance of interests and transfer rates of assessments over time. Also, make a list of all open its money markets, savings, certificates of deposit, IRAs, mutual funds and other accounts to see if any consolidation can be done. Keeping your money in fewer places eliminates all the guesswork involved and reduces errors.

9. Establish Automatic Savings

Create a link from your checking account into a savings account that will not be touched. This can be done through banks and the amounts are automatically transferred each month. Most people do not put money into a savings account on a regular basis. They can wait until a large tax refund check arrives or some other event to actually deposit money into savings, retirement or other accounts. If you set automatic savings deposit every month, your accounts will begin accumulating money faster than you think.

10. Clean up your files

Make sure your bills are organized in a binder. Keep individual files for paid bills. Go through your files at the end of each year and throw out bills and receipts no longer needed for auditing purposes. Contact your local IRS office to see how long records must be kept for audits. Usually federal tax return audits can be done three years ago, but canceled checks may need to be kept for seven. Check the Internet for auditing and records-keeping procedures for your state or region.

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