Staying on top of your bookkeeping and knowing where your finances stand is one of the keys to running a successful, thriving business. Did you know there are some bookkeeping tasks that can be set to autopilot so you can spend less time worrying about your books and more time running your business? Here are 3 bookkeeping tasks you should automate:
- Invoicing – If you issue invoices to the same customer for the same amount on a regular basis (i.e. monthly or quarterly), let your accounting software do this for you. All major accounting software programs allow users to create invoices that can be automatically sent via email on scheduled intervals. Be aware, with QuickBooks Desktop, you need to keep your software up to date, within the three-year active period for each version. Once a Desktop year is “sunset,” this functionality is no longer available.
- Recurring Customer Payments – Do your customers pay you the same amount of money every month? Every quarter? Why not set them up on a recurring payment system? That way you know exactly when the money will be in your account and your customers know exactly when their funds will be deducted from their accounts. QuickBooks Payments, PayPal, Square, and many other merchant services companies have this option available. While there is a fee associated with this payment option, you will never have to wonder when a check will be received or if it will clear once deposited.
- Paying your Vendors – By automating your payables, regularly recurring bills can be paid directly from your account on pre-set intervals. This will free up time during your work week. In addition, you’ll never need to worry about missing a payment or incurring late fees or additional interest. Note that once you’ve set up your vendor payments, you’ll also need to set up these recurring charges in your accounting software so you have an accurate reflection of what has been paid.
Outsourcing Your Bookkeeping
If you want to take things a step further, consider outsourcing your bookkeeping. Doing so will give you access to an experienced professional for advice, insight, and knowledge; and alleviate the feeling that you’re “going it alone.” Your bookkeeper will be able to answer your questions, explain your financial reports, and assist with managing and improving your cash flow. And most importantly, outsourcing your business’s bookkeeping operations frees up valuable time that can be put into bettering your company.
Accounting and Bookkeeping Services in NH and MA
At Fournier Accounting and Bookkeeping Services, we give you real time, 24/7 access to financial information from anywhere, on any device, WITHOUT your spending the time updating. Contact us today to learn how we can help you save time managing your bookkeeping and accounting so you can spend more time focusing on your business and the needs of your customers.