How to Take the Stress Out of Bookkeeping!

How to Take the Stress Out of Bookkeeping!

The holiday season is upon us. For many people, including business owners, that means additional stress. Small business owners, especially, will feel the stress. Between handling customer service, marketing, providing services, and bookkeeping, they have their hands full. There are a lot of moving parts that keep a business running. Often, people start a business in an area where they have experience. They may be able to provide services and handle their customer service. They may know enough about marketing to build up their business. But what about bookkeeping? Some people go to school for years to become an accountant. There are so many bookkeeping software choices available. How do you know which one is best? Bookkeeping can be stressful. Here’s how you can take the stress out of bookkeeping.

Make Time Everyday to Handle Your Accounts Receivable

Bookkeeping has several stages. Accounts receivable is one of those stages. In this stage, your business is sending out invoices and recording payments received for those invoices. If you have clients that mail in payments, those payments must be manually applied. If you’re using older bookkeeping software, you may have to manually apply various payment types. You must make time each day to spend on your accounts receivable. Otherwise, you run the risk of depositing payments into your account and not updating your records. This can result in it appearing you have outstanding accounts. Decide whether you’d rather spend some time in the evening or first thing in the morning updating your accounts receivable.

Choose the Best Bookkeeping Software for Your Needs

To take the stress out of bookkeeping, you can choose the best bookkeeping software that meets the needs of your business. Even if you’re already using bookkeeping software, you are free to change which one you use. Keep in mind, though, that you will have to import your old records into your new system.

Think about your business. Which features of bookkeeping software could you use? Which features aren’t that important? What is your budget? Do you prefer a program that installs to your office computer or laptop? Would you prefer bookkeeping software that is “on the cloud”? Do you have employees? If so, you need to choose a software that can help you with payroll (unless you plan to outsource it).

Look for bookkeeping software that allows you to accept and apply different types of payments. It should give you the ability to see your clients and what they spend with your business. You should be able to easily run a report on accounts that are past due. You should be able to see your expenditures and money coming into the business. If you have an accountant who handles your taxes, ask them what they recommend. This is important because your accountant will need an easy way to access your bookkeeping when the time comes.

Take Advantage of Free Training

Many bookkeeping software companies offer free training for their clients. You can ask the bookkeeping company where you can find their training modules. Learning how to properly use the software (along with some hints and tips!) can go a long way in taking the stress out of bookkeeping.

Get Help with Your Bookkeeping

There are business owners who just do not want to handle their own bookkeeping. That’s okay! A business owner is often much better off focusing their time and effort on providing for their clients or using time to grow your business. Clients ARM provides remote bookkeeping services for businesses of any size. With more than 30 years of experience, we can handle your entire bookkeeping process for a rate that’s affordable. You get the expertise that you want and need. You’re able to spend more time with your clients. To learn more about how our bookkeeping services can help you and your business, schedule your free consultation.