Have you ignored your bookkeeping this year? Feeling overwhelmed and KNOW you need to catch up soon? Team Profit can help you get caught up fast so you can take over without the stress!
Don’t want to outsource for bookkeeping tips?
If you can make the time and are ready to take action, here are 4 bookkeeping tips to make your catch-up as painless as possible:
- Use accounting software and connect your bank accounts. This is one of the best bookkeeping tips out there! Make sure to enter the start date for QuickBooks to begin pulling in your transactions. If you haven’t made more than $15,000 this year, consider using WAVE, which is a free accounting software option.
2. Focus on one month at a time. Don’t get overwhelmed by looking at multiple months of transactions. Use the filter button to isolate one month at a time; it’s a helpful bookkeeping tip to keep things manageable.
3. Reconcile your account immediately after categorizing one month. Don’t wait until the end! Reconciling is essential, as it ensures all transactions are captured and prevents duplicate entries. Remember: Reconcile, reconcile, reconcile!
4. Stop over-complicating your categorizations. Keep your categories useful but not overly detailed. For example, when tracking travel expenses, you don’t need to separate them into plane, bus, and Uber—these can all fall under one category.
Implementing these bookkeeping tips can help streamline your process and make catching up less daunting! Check out 5 secrets to bookkeeping & some more helpful bookkeeping tips on our blog. Cheers to profit and cheers to YOU!
