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Bookkeeping Tips for the New Year

Many of us resolve to begin the new year on the right foot. This usually consists of diet, exercise, or other personal resolutions. Unfortunately developing good business practices are not normally part of the equation.

Executive Directors of Nonprofits and Small Business Owners both, could significantly benefit from these important bookkeeping resolutions:

  • Organize your finances! Ensure that you subscribe to a solid bookkeeping software package that enables your organization to flow seamlessly Bank accounts, credit card accounts and/or PayPal accounts should all sync with your bookkeeping software.

  • Save ALL receipts for business expenses and attach them to the respective transactions in your bookkeeping software. Most bookkeeping software enables a direct upload or it may be done through a secondary provider.

  • Follow-up on unpaid bills (Accounts Payable) and outstanding invoices (Accounts Receivable) in order to obtain an accurate picture of your organization's wellbeing.

  • Hire a professional! Remove stress and time constraints from your daily workload by outsourcing your bookkeeping to an expert.

  • Have a safe, prosperous and Happy New Year!

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