I have met exactly zero creative entrepreneurs who are super jazzed about doing their bookkeeping. I’m sure they exist, but when you’re running your own creative empire it’s hard to get excited about sitting in front of your computer staring at spreadsheets and reports. Bookkeeping is a necessary evil and it has to get done, so don’t push this item down on your to-do list. The more you procrastinate, the longer it will take you to get it all straight.
Below are my top 3 tips for staying on top of your books and ensuring you’re not scrambling when tax time rolls around.
Pick a day of the week and block out the time – every week!
Yes, you read that right the first time. Every. Week. Follow this tip and bookkeeping will become more of a habit and less of that little mess you just sweep under the rug until tax-time.
Pro-tip: Eliminate some of the drudgery by putting it on a day that is not overwhelming to you. If you hate Monday’s don’t add a tedious business task to your Mondays.
Bookkeeping is not something you can do while multitasking. When you block off the time, make sure you are dedicating all of your attention to the task at hand. Not only will this help you get the job done faster, but it will also help to ensure accuracy. So turn off your notifications, close your Instagram app, find a quiet spot and get to work.
We all know bookkeeping isn’t fun (unless you’re a number nerd like me), so create a positive association by rewarding yourself with a little something special. I’m a sweets girl myself, so my go-to is a guilt free afternoon dessert (don’t tell my kids).
Some of the benefits of staying up to date:
- You’ll be categorizing transactions while they are still fresh on your mind.
- You are less likely to miss paying a vendor or forget to collect payment from a client.
- Expenses are less likely to fall between the cracks and get forgotten.
- You’ll be less stressed when tax time rolls around.
- You’ll become your CPA’s favorite client because you’re not dumping a shoe box full of receipts at their feet.
Now, get that calendar out and get going!
Need help cleaning up past months? Contact me and I’ll be happy to talk about ways I can help you get caught up!