Accounting Attracts Money
If you pay attention to your money by writing your personal, household and business accounts properly, you will see free flow of money, whether you are a salary earner or self employed.
Writing accounts every day is an effective way of giving attention to money. If you are perfect in this practice, money will come to you to meet all expenses. You will never experience cash shortage.
You must write accounts for business, personal and household transactions. Many people write only business accounts and ignore household accounts. Their logic is business generates income and therefore business accounts deserve attention. Money is money, whether it is business or household. You write accounts to give attention to and to attract money. So, business and household accounts deserve equal attention.
Yet a few others believe that they don't have to write their accounts because they are employed. You write accounts to become conscious of your financial position. You can never control something about which you don't have knowledge. When you write accounts properly, you gain insight into your financial habits and attitudes. This knowledge will do wonders to your finance.
Some people write accounts every day. But, they always find some difference. They ignore the difference or post it to a convenient suspense account and believe their accounts are perfect. Writing accounts makes sense only if they balance and tally.
Forgotten Money
Kate Orchards had forgotten to send Bill $400 that she owed him. Bill sent an email to her three years ago about it. He did not flag the email for follow-up and he forgot the matter.
Bill never bothered to maintain proper books of accounts. After learning about the importance of the principle, he began to maintain accurate accounts.
Two months ago when he tried to organize his emails, he found that old email. When Bill contacted Kate, she sent the money immediately with a letter of apology. If Bill had maintained proper accounts, this delay could have been avoided. If he had deleted the email by mistake, he would never have received the money.
Unexpected Receipt
John is a small business man. One day, he was in need of Rs.2,000 to pay off some unexpected expenses. If he did not pay it off he would be in deep trouble. He had $500 in his bank account.
He decided to apply these principles to solve his problems. His employees laughed at his stupidity and superstition. But he replied, "Whether these principles solve my problem or not, it is good to clean our office, organize things and write up pending accounts. So, let's do them."
John and his employees spent the whole of that afternoon in cleaning their office, organizing things and writing up the pending accounting work. When John was about to close his office that evening, a courier delivery man walked in and delivered an envelope.
It was a cheque for $5,000 from a customer who had been postponing his payment for months.
Will these principles work for you? I don't know. You must try them and tell me. Remember what John said, "Whether these principles solve my problem or not, it is good to clean our office, organize things and write up pending accounts. So, let's do them."
