Bookkeeping tip 1: Automation saves times
>> Simplifying bookkeeping, and making it a painless process <<
Christmas is a fraught time for my husband.
He's generally a thoughtful bloke who will listen to my whimsical and off-hand hints at presents, and then get me things I quite like.
Most of the time.
But it now stresses him out because of one occasion about five years ago.
I think it began with him leaving things to the last minute - although he'll deny this - meaning he ended up making a number of impulse purchases based on a hunch of what he thought I'd like.
And with me, it's best to go on hints not hunch.
This resulted in all but two of my presents being returned. And me giving him a hard time about it ever since.
But this year the boy done good.
He'd listened, for a start. And so I had a good range of presents I was after. But he also got me something I hadn't hinted at, and wasn't expecting.
Now, he knows I like coffee. Strong.
It's the only thing that gets me through the mornings.
And he also knows I'm a fan of percolators because you can fill them up and so have multiple cups ready in a short space of time.
They are also much tastier.
But there was one reason in particular I was over the moon ...
You can set the percolator on a timer.
So you can prepare your coffee the night before! Just add the water, spoon in the coffee, set the timer, and then off to bed you go.
At the set time in the morning, BOOM, my percolator starts bubbling away. Filling the pot with delicious ready to go coffee.
My morning caffeine fix is now automated!
I get up, grab a coffee, and go get ready.
Then I grab another and put my face on.
And then, if I've put in enough water, I'll often grab a third.
After this, there's no stopping me.
My percolator has automated my coffee routine.
Yes, I have to prepare it the night before, but it's helped speed up my mornings and set me up for the day.
Which is a similar experience you can expect by automating elements of your bookkeeping.
For example, if you use online bookkeeping software such as Quickbooks, you can set up automated payments.
This means your customers can pay your invoices via bank transfer or credit card with just a few clicks.
Those payments are then downloaded into QuickBooks and the payments automatically applied to the open invoice, ready for you to email to the customer.
And then for day-to-day business expenses like fuel, food, office supplies, etc... you might use a business credit card. You can link this credit card to QuickBooks so all transaction information is recorded straight away.
If you do have some spare time, you might like to consider renaming regular transactions, as these will apply in future making this process even more efficient.
Another step to automating your bookkeeping is setting up memorised reports.
In just a couple of clicks, you can review information on key business metrics. And with easy access to your financials, you can make faster business decisions.
By automating these core elements of bookkeeping you can save yourself a heap of time, and set your business up for a smoother ride.
Do keep an eye on our bookkeeping blog series as we divulge more tips to help make it a easier and a better experience for you and your business.