Some small business owners are so focused on running their business that the small administrative tasks get left behind. But, the administrative tasks, like bookkeeping, are just as important and letting them build up can create unneeded stress. Try these 3 tips to make bookkeeping a little less stressful.
#1: BE ORGANIZED
Whether you’re doing it yourself or paying a bookkeeper, staying organized can save you a lot of time, stress, and money. It may sound silly but you can only do your bookkeeping with the information you have and the more information you have the better. If you pay a bill, make a note of the date and payment method. If you send an invoice, make a note of the date and payment terms.
#2: OPEN SEPARATE ACCOUNTS FOR YOUR BUSINESS
Paying your business expenses from your personal account or vice versa makes your bookkeeping much harder and more time consuming. You should always have separate bank accounts and credit cards for your business and your personal expenses.
#3: STORE YOUR DOCUMENTS IN THE CLOUD
Receipts, especially the one you’re looking for, frequently go missing. Whenever you get a receipt, take a picture of it and upload it using one of many cloud storage solutions like Dropbox or Expensify. That way you’ll always have a copy of your receipts.