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Bookkeeping for Small Businesses Tip: How to Save Money

Jun 24, 2020 10:45:00 AM BudgetEase Small Business, Financial Management, For Accountants, Bookkeeping

small business bookkeepingFor small businesses, every penny needs to be put to use in the smartest way possible. Here are a couple of tips to help you make those critical dollars stretch.

Be Organized 

If you are receiving help from an outsourced bookkeeper, keep a file of to-do's for your bookkeeper and update it before your bookkeeper arrives. 

Have a Policy & Procedure Manual 

Outlining protocols in a physical way, in a binder or online manual, helps you not only define the steps, but also gives your team an easy reference on how to execute. This ensures everyone is working in the same way.

Set-up a Schedule 

Schedules set expectations, resulting in efficiencies and lower bills. For example, bank reconciliations completed by 2nd or month, bills paid on Fridays . . . 

Focus on the Initial Set-up 

Have your books set-up "right" the first time to avoid expensive clean-ups down the line and if "errors" are made, spend the time and money to correct them immediately.  

Address Errors or Adjustments ASAP 

Incorrect adjustments and/or errors magnify over time and make for more extensive and expensive fixes. 

Get the Right Training

Avoid errors and future corrections costs by getting new employees trained sufficiently from the start.

If you need additional bookkeeping help, check out BudgetEase and we will set you up with a QuickBooks certified advisor. 

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Written by BudgetEase