With it approaching the end of the year it is important to ensure that you are preparing for your financial future and to also have a stress free tax time. Looking at your bookkeeping for just a few minutes each day can help save you time and money in the long run. No one wants to spend the end of the year doing a year’s worth of work. That will take many long hours and a lot of stress! 15 minutes or less is all it takes and this quick and easy list can help you get in a routine of looking over your bookkeeping for your small business so you are not waiting till the very last minute. Here is how you can spend 15 minutes daily on your bookkeeping..
- One thing you should always be doing daily is reviewing your daily transactions each day. If you ever have questions ask your accountant for help. Don’t hesitate to ask for help when something may seem confusing or you are unsure. When it comes to the world of numbers it is better to be safe than sorry.
- Enter your checks daily into Quickbooks. If you have time to stop by the bank to make a deposit take care of it or plan a day that you want to make bank deposits weekly.
- Record your sales daily. Why wait till month end to enter daily sales if that is a method that is normal for you? Do it daily to save you time so that you are not rushing at the end of the month with other tasks.
- Have an invoice that needs to be sent out to a client or customer? Send your invoices daily so that you can get paid.
- Make any bank deposits necessary but ensure you have copies of all your checks you deposited and receipts. If your bank keeps a copy of this then great but if not save them for yourself in case of future audits.
I hope you find this list helpful and that it gives you some insight on how to stay on top of your bookkeeping throughout the month without the unnecessary stress and worry of saving it till the end of the year.
Now you’ve read Here is how you can spend 15 minutes daily on your bookkeeping.. how do you feel? Are you ready to conquer?
Looking for more bookkeeping information or tips? Check out our post on 7 Small but Smart Business Budgeting Tips