Do you enjoy bookkeeping? As a business owner, you wear many hats. You have to if you want your business to be successful, right? And you must be doing something right because your business is busy. You’re making money and bringing in new clients.
The problem is that now you’re short on time. So, what’s one thing in your business you can readily delegate with glee to someone else? For most, the answer to that question is bookkeeping.
Outsource Your Bookkeeping
Keep everything running smoothly by freeing up some of your time and attention. Delegate your bookkeeping to one of our trained and experienced virtual assistants.
Consider this: You spent three hours on bookkeeping last week. Two weeks ago, you spent much more time on bookkeeping because you hadn’t been giving it the attention it needs. This week, you’ll spend a couple more hours on bookkeeping.
How much money did you make for your business while you were working on your bookkeeping? None. Nothing.
You weren’t able to develop new customer relationships during that time. As a matter of fact, you had to prioritize the books over something else that might have turned into something profitable for your business. You couldn’t work on your business because you were working in your business.
Don’t stunt your business growth. Let go of the tasks you can delegate to others. Make room in your business and life for success. Besides, I’ll give you one more great reason to outsource your bookkeeping:
Imagine it’s tax season. Again. But this year is different. Instead of digging through papers, files, boxes, folders, and more to find everything that you’ll need to prepare your taxes, it’s all in a file folder on your hard drive and dropbox.
All you have to do is send the files to the tax preparer with a couple of clicks. Can you imagine how much time you just saved? Forget time—you just saved your sanity!
So, how do you make this dream become a reality?
Hire a bookkeeper to keep all of your receipts, invoices, and expenses up-to-date and in order. It’s incredibly simple. Just call us. We’ll be glad to help.
DIY Bookkeeping and Tax Prep Tips
If you’re not ready to hire a bookkeeping virtual assistant, that’s okay. I would still love to see you be able to streamline your bookkeeping process either way.
With that in mind, here are a few tips to get you started.
Tip #1: Build a system.
This isn’t nearly as complicated as it sounds. Do you remember the back and forth emails at tax time last year? Do you remember what your tax preparer needed from you that you thought you had already handed over? Well, grab a pen and some manila file folders (or one of the accordion file folder).
Now, start labeling. Pharmacy and medical care receipts, 1099s, W2s, 1098, business expense receipts, fuel receipts, mail to be opened, bills, etc. Label a file folder for each applicable expense and income.
Tip #2: Work your system.
Keep your new file folders in a storage container (or go with the expandable file folders with dividers) near your desk or wherever you typically open mail and pay bills. Now, when you check the mail, start sorting. When you open the mail, sort it on the spot, too. When you come home from a business lunch, just add your receipt to the file.
Make it convenient and easy to sort, and you’ll have no trouble staying organized. And once you’re organized, plugging the numbers in will be much easier.
Tip #3: Make adjustments.
As time goes by, you’ll discover you’ve forgotten a category or two in which you need to sort things. As you come across these, just start a new folder. You’ll really appreciate it later.
Signature Virtual Assistance is a full-service virtual assistance firm, helping businesses like yours with virtually every need. Business owners and entrepreneurs choose Signature Virtual Assistance to free up their time, reduce their stress, and accelerate their business growth. Contact Lorie today.