One of the most dreadful and tiring tasks a business owner must deal with is bookkeeping. Keep this process as simple as possible by following these simple bookkeeping tips that every business owner should know:

Use Automated Invoicing

Automated invoicing software makes bookkeeping tasks much simpler. This software allows you to automatically schedule invoices for your clients. It also saves a lot of time when preparing invoices, and reduces your risk of errors.

Schedule Essential Financial Reports

This is another bookkeeping tip you should always remember. Scheduling essential financial reports will help keep you organized. This includes balance sheets, and accounts’ receivable aging, profit or loss, or income statement on a daily, weekly or monthly basis. Once the reports are scheduled, you can begin emailing them to their recipients. This tip will also help by keeping you constantly reminded of your due dates, especially for state sales tax.

Take Advantage of Reliable Accounting Software

Using automated software to record accounting and financial transactions allows you to complete a number of tasks at a time. Fortunately, when it comes to choosing reliable accounting software, you have plenty of options. QuickBooks and Open Source are both examples of good accounting software that will make your job much easier. Some software is also free to download, and comes with free online tutorials and manuals.

Keep your Papers Organized

This will help you overall by reducing your bookkeeping tasks. Make sure that you are consistently organizing the invoices and receipts in your desk. Not doing this will most likely result in a large stack of unmanageable papers, making locating specific files nearly impossible. To help you organize, consider using a file folder or a box for all unrecorded papers.

If you are still having trouble with bookkeeping, you should consider hiring an accountant. TalkLocal can help. Simply visit our website and give a brief description of you service needs to be put in contact with a professional within minutes.

This entry was originally posted on Friday, June 29th, 2012 at 6:00 am and is filed under Accountants. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.