Three Key Ways to Improve Your Bookkeeping
Are you feeling…flustered? Palms sweaty?
If that’s how you’re feeling about your business’s bookkeeping, it’s time for a change!
And it doesn’t have to be an intensive process; most times, simple changes are all that are needed to take your bookkeeping from back-of-mind to peace-of-mind.
So, here are three key ways you can improve your bookkeeping (and your sanity):
Automation
Why are you spending time doing tasks that you could automate?
5-30 minutes every day can really add up, so if you automate, you can use that time to work in or on your business, allowing you to reserve and prioritize your time more efficiently.
Simple things like routine invoicing for monthly clients and recurring payments are all examples of quick automations that can free up more of your time.
Good Habits
Brushing your teeth, washing your face and eating regularly are all examples of daily good habits. Your business runs similarly.
There are crucial tasks you do every day, every week, every month, etc., that help to keep it running smoothly, and your finances should be the same.
Consistency and routine will help keep you on track.
Regularly reviewing your finances will ensure that you catch any discrepancies, whether positive or a warning signal. The key is to keep on top of your finances enough to identify trends in your profit and expenses, so you can make informed decisions and plan accordingly.
The Right Systems
You can automate, saving you time, and have good habits, but if your system isn’t right, more specifically, your software, then you’re in for an uphill battle.
When assessing your software, you need to consider a few things:
How easy is it for you to use AND to teach your team to use?
Can you automate tasks effectively and efficiently?
Will this be a software you can grow with?
If you’re interested in learning more about the bookkeeping software options available to you, feel free to start your research by learning about Xero (what we use).*
By analyzing and implementing these three strategies, you will be able to listen to the signals of your business more clearly, no fog in sight!
If you’re looking for some help with your finances, we can help!
Whether you’re looking for monthly bookkeeping assistance, help with a question or two here and there, or wanting to clean up your books, learn about how our services can empower you and book your FREE consult with us!
*While I am a Xero Ambassador, Xero does not pay me to promote their software in my business.