Managing bookkeeping during busy seasons can be challenging, but with the right strategies, you can keep everything under control. Here are some tips to help you stay organized and efficient:
Prioritise Tasks
Start by identifying the most critical tasks. Focus on those that directly impact your cash flow, like invoicing and bill payments. Use a task management tool to keep track of deadlines and ensure nothing slips through the cracks. Tools such as ClickUp, Monday.com, Asana and Trello can help you keep track of tasks and deadlines.
Automate Where Possible
Leverage technology to automate repetitive tasks. Utilise in-built features of your chosen accounting software to handle routine bookkeeping tasks like data entry and reconciliation. This will save you time and reduce the risk of errors. For example: Setting up recurring invoices for situations where a client’s billing is the same amount for a specific frequency, can minimise the manual handling time.
Schedule Regular Check-Ins
Set aside regular times to review your financials. Weekly, fortnightly (or even monthly) check-ins can help you catch any discrepancies early and ensure your records are up-to-date. This habit will also make it easier to spot trends and make informed decisions. This makes it easier to ensure that you are complying with record keeping requirements, as you’re not needing to remember what that $65.00 purchase was at that shop with an obscurely-named EFTpos terminal was, months after the event.
Delegate and Outsource
If you’re overwhelmed, consider delegating tasks to team members or outsourcing to a professional bookkeeper. This can free up your time to focus on other important aspects of your business.
Stay Flexible
Busy seasons can be unpredictable, so it’s important to stay flexible. Be prepared to adjust your plans as needed and prioritise tasks based on their urgency and importance.
By implementing these strategies, you can manage your bookkeeping effectively even during the busiest times of the year.
For more in-depth guidance, check out my ‘Boss of Your Books’ membership program. It’s designed to help you make time for regularly doing your business bookkeeping, while also giving you confidence to do your books as you have access to a professional bookkeeper at all sessions.
