44. Is your bookkeeping too far gone?
July 12, 2019
This episode is brought to you by my bookkeeping strategy sessions. When it comes to your bookkeeping, you’re probably in one of three areas. Doing it yourself, outsourcing some or all of your bookkeeping to a professional or understanding what the reports mean and making better business decisions from that information. Each of these stages comes with different struggles and questions. I can help with all three. Bring your questions, and I’ll bring some solutions. To book one of these sessions, email me at email@example.com. Now, on with the show.
Have you never done your bookkeeping before?
Do you have years and years of a mess in your quickbooks file?
Are you not sure that the information is accurate because an accountant or bookkeeper has never laid eyes on your file and you are just winging it each month?
Do you have duplicate transactions?
Do you look at your reports and know that the information is not accurate?
Here is what you can do.
- Open a new file. Start fresh. If your taxes have already been submitted for last year, you can download a CSV file from your bank and have all of the transactions imported and start fresh from January 1.
Don’t stay overwhelmed in the mess. If you know you’d have to go back several YEARS to get caught up, it might not be worth it. It may be best to open a new file and start with this year. You can always keep the old file and go back or have someone go back and catch it up for you, but that will be costly.
Even if you do decide to go back years and years worth of information, I would still open a new file and go from there. It will go much faster if you’re not constantly deleting information and if you’re working with just the facts from your bank account. Don’t delete the old file, just FYI.
- Put policies and procedures in place NOW to prevent a future mess.
Just because you’ve always done it that way, doesn’t mean it has to be done that way.
If you don’t have policies and procedures in place, don’t overthink this. This is just how you do your bookkeeping, what needs to be done each day, week and month, who does those tasks. This is also what you don’t allow in your business bookkeeping.
This is really important because if you’re doing this in your business, you’re only doing these tasks once a month! And sometimes even once a quarter. Even for my own clients, I write our standard operating procedures in tasks I do for this monthly because I don’t always remember every detail and I need to know that I’ve completed the job. This can be really simple. I just open a word document, write out the procedures and then follow them to a t over and over again to make sure I didn’t miss any details. This is also a great opportunity to write them out and then have a professional look over what you’re doing and give you advice on ways to streamline or on something you could be missing. (I can help you with that in a strategy session!)
The key then is to do the thing each time the same way. This consistency is going to really help you in your business and to keep the stress levels down.
I’d be honored to work with you. To get started, email me at firstname.lastname@example.org with the problem you’re having and we can discuss the best way to get to a solution.
If you are ready to use your numbers to help your business, please subscribe so you will be notified when the episode drops.
I would love to connect with you. You can find me on Instagram @lydia.miller.mba and always by email email@example.com.
So until next time, go, make it happen.