Keep Up to Date with Your Accounting
Of all the things you do to power a small business, going over the books probably isn’t the sexiest. For many people, it’s a necessary evil at best. While Excel spreadsheets and Quickbooks tables usually don’t inspire our passion to new heights, there is no reason to put off the job. The sooner you get done, the faster you can move on to the more fun aspects of running a business.
To speed the process along, here are 3 accounting habits you should adopt:
Keep It Separate. Your business account should be kept separate from any personal expense accounts you have. While it’s handy to be able to whip out the business charge card when you take the kids shopping or tap into the family vacation fund to meet weekly expenses for the business, it makes tracking your expenses a lot harder.
Keep it Scheduled. Running a business can be demanding, especially when you’re running short on time and are being pulled in six different directions. Make a set time each week to go over your finances. You’ll become more in tune with your business, and you’ll see your stress levels drop.
Keep it Timely. When did you buy that printer? You’re pretty sure it was some time last month. Did you keep the receipt? Nothing is more frustrating than trying to trace back transactions that happened months ago. When you make any transaction for your business, record it as soon as possible while it’s still fresh and relevant.
Along with good habits, you also need the tools to make your accounting smooth, accurate and easy. As an Infusionsoft user, you already have access to a pretty comprehensive suite of software to make your business hum. Now you can take things a step further.
Infusionsoft has integrated with two of the most popular accounting software packages, Quickbooks Online and Xero, meaning you can now have the latest figures at your fingertips when you’re planning out your new marketing campaigns. It means no more manual updating of orders and invoices with third-party software, allowing you to get back to running your business. And since it’s integrated with Workato, you can access a simple drag and drop interface to allow data to seamlessly flow across your favorite apps. When you check out Workato, tell them we sent you and they will take extra good care of you!
Good accounting habits and the tools to take advantage of them: it’s a win-win for you and your business.