Systematize Your Bookkeeping, Filing and Financial Planning
Organizing the business side of your business is as important as planning your marketing schedule or production schedules. In this post, let’s get it all arranged in a system that you continue to run throughout the year!
DAILY:
-Keep your desk organized! Having entered the box, file box, and project files to keep your main work area is cleaned by the end of each day. I feel so important to my creativity to have the mental and physical “white space”.
-If the tracking time … absent kept up to date every day. It sure is hard to remember what happened at the end of the week!
-Log into your accounting software (QuickBooks) depending on the volume of transactions that you do every day. I assume that you will have an assistant if you have enough transactions that you need to enter sales receipts, invoices, bills, credit card receipts, etc. every day.
-As needed, enter sales receipts and billing information to give to clients and customers for sales made that day.
-As needed, receive product supply ship,, ordering supplies
-If you have a cash register: Daily reconciliation of sales and paid out is highly recommended.
Daily deposits of cash receipts, especially if you have a large number of transactions.
Weekly:
Set aside a few hours once a week to do all the bookkeeping (which is not done every day):
This sequence is the order I suggest for QuickBooks users
-Update timesheets if time tracking
-Pay employees if applicable
-Create and send invoices (some would use the time entered on this Timesheet)
-If you have inventory, receive inventory against the bill
-Enter the bills that come for a week
-Pay bills and send checks
Enter your credit-card receipts
-Receive payment on your receivables
-Enter in QuickBooks and deposits on the deposit slip
-FILE all documents weekly. Do not allow the submission to overtake your office!
Monthly:
-Ensure all deposits, invoices, bills, credit card receipts, and checks are recorded in QuickBooks for the month.
-Reconciliation with the following monthly reports: Checking accounts, savings accounts, PayPal accounts
-Print the following statements: Profit and Loss BY CLASS for the month, Cash Flow, Budget vs. Actual reports, Balance Sheet, Sales by item / customer
-BONUS report: reviewing reports from the time you (if you track your time).






