Bookkeeping Checklist You Need to Have for Your Business to Grow

Starting a business gives you some high. Your new endeavor provides you with a lot of enthusiasm. But then, it’s not that way all the time, you have to think of the “dirty” work or the responsibilities that accompany it.

One of this responsibility is bookkeeping. Most business owners look at bookkeeping as a time waster, but unaware that this may cause their business to make or break.

If you want to make your business grow, bookkeeping is one area where you have to give focus first.

Bookkeeping is about maintaining financial records. This is crucial for a business to survive.

This article points out the importance of bookkeeping checklists.

Daily Bookkeeping Checklist and Tasks

1. Check Your Cash on Hand

Be aware how much you have on hand and your bank balance. All business owners must be ready for unexpected expenses.

2. Be Aware of Your Cash Inflow and Outflow

Keep a list of incoming and outgoing payments for the day. Doing so will give you the idea of your cash position for the day and the following day.

Monthly Bookkeeping Checklist and Tasks

1. Invoicing

Prepare and send invoices to your customers. The sooner you send invoices, the better. This facilitates faster settlement.

2. Customer Billings

Update your spreadsheet or the accounting software you are using. Don’t get distracted by other tasks, better yet hire an independent Xero bookkeeper sydney. Hiring one will do your business good, to give you more time to grow your business.

3. Customer Payments

Update your software wit the payments made by customers.

4. File Vendor Bills and Payment Records

Keep everything intact. This includes all physical copies of bills. Print e-bill as well. Index everything for ease of filing.

5. Vendor Payments

Record all payments made to the suppliers. If you keep up with your payments, it’s likely that your customers will keep up with theirs.

6. Keep Payroll File Updated

Be on top of the payroll and show your employees that you are in for the long haul.

7. Review Cash Flow

Check your cash flow regularly. Have a periodic cash flow projection. This makes you have a view of your cash flow goals.

Quarterly Bookkeeping Checklist and Tasks

1. Annual Profit and Loss Estimates

Check your profit and loss forecasts. How are you faring against the estimates?

2. Make Quarterly Payroll Payments

Quarterly payroll payments are due in the last month of each quarter. Be sure to put this in your system quarterly.

3. Make Quarterly Sales Tax Payments

To avoid penalties, you have to account for this and make the appropriate payments.

Annual Bookkeeping Checklist and Tasks

1. Year-End Inventory

Account for what is left at the year end. Which product did well in the current year and what product you have to stop selling.

2. Fill out Tax Forms

This is tedious, but it is required. Have it done and move on to the next task.

3. Financial Reports

Review the whole year financial reports. If you didn’t do well in the current year, there are opportunities for you to improve and keep up with your business goals.

4. Review Tax Returns

Do this before giving to your accountant.

Final thought

For a business to succeed, make it a habit of setting aside time for bookkeeping tasks. Make this checklist as your guide, so you won’t miss out anything.

Do You Need More Storage Space for Your Stuff?

Are you looking for more room for all your things? Have you been putting off your spring cleaning because you just don’t know where everything can fit?

If you are an organizational ninja, you probably haven’t even thought about the fact that maybe you just have too much stuff! Even with the Tetris skills of Einstein, there might just not be enough room left for you to fit everything you own in a comfortable and organized spot. No matter how much you pack or however many times you organize the space nothing seems to work. What do you do now?

self containing storage units

How Do You Manage All the Clutter?

Keeping your house clean and organized is something every good homeowner wants. If you have found yourself in a situation where all your things are running out of space, maybe you need somewhere new to store them. Since not everyone has the funds to just pick up and move into a larger home, there are other alternative options you can look into. Finding a storage facility big enough to accommodate all your extra belongings can be a headache. That is why you can shop online first to see what storage space would be the best fit for you.

self storage container rentalsWhat Kinds of Things Can You Store?

When looking into a storage unit, you need to keep in mind the things that you are planning to put inside the container. Some facilities will hold smaller things and just rent out lockers, while others can accommodate larger items such as a car or boat. When you are searching for a self-storage container, figuring out everything you will want to put into the unit before you rent it is vital. Depending on how you like to keep your things and in what system you like to put them in, the size of the container you rent will change the experience you have with them.

If you are planning on visiting your container or locker frequently, then the organizational system that you put in place can dramatically lessen the time you spend at the storage facility. The less time you spend there, the more time you can spend enjoying your day and the things you picked up from your unit.

Just Don’t Miss Your Storage Payments:

One popular reality show that we have started seeing a lot of are those storage unit auction shows. They will record people going to various storage facilities throughout the country and watch them bid on units that are being sold at auction. They are not actually buying the unit. Instead, they are purchasing the items inside. Even though these shows are inaccurate, there is some truth to them. If a storage company has a container that has been rented but the individual is no longer paying, they will try to make up those lost profits by using the belongings inside to make what money back they can.

If you have been looking for additional space to hold all your extra stuff, then looking into a storage company or facility would be the best option for you. Keeping your things safe and remaining organized can improve how you feel about your home.

How to Save Money and Time with Booking Software

Switch from old appointment scheduling methods to online bookingDo you own a business that relies on appointments or scheduling? Maybe you offer reservations for clients and customers, so they do not have to wait for an opening. If any of these apply to you, then you have probably dealt with overbooking or double reservations.

How Do You Fix Your Double Booking Problem?

When it comes to keeping your appointments in order, you might currently be using standard means of pencil and paper to hand-write your schedule. This can quickly become a chaotic mess that will frustrate both you and your clients. On top of causing you unneeded stress, mistakes with appointments and your schedule can lead you to lose money and valuable customers. These are mistakes that new business owners can not afford.

How Can You Avoid A Double Booking Nightmare?

When dealing with scheduling one mistake can cause hours of stress and headache. If you have been looking for a more organized alternative, you should consider booking software. It can easily integrate with your company and give you back a lot of free time to enjoy all your hard work. With different software being available on the market, you should look into one that will satisfy the needs of your business in particular.

Reach More People:

Most scheduling programs will work on your current website so your customers can easily find and make an appointment. If your concern up to this point has been that your clients are from a different culture or a variety of cultures, that will not be a problem. There are appointment scheduling software programs that will allow the client to choose their particular language and currency. This will make it incredibly easy to reach and book more clients from different nationalities.

Things to avoid when booking a hotelMarketing Using Social Media:

If your company already has social media accounts, then you can connect them easily with your new software. This can help you reach more prospective customers and bring you more of a profit. Within the program, you can add pictures of your business, what your company does, and what exactly you can offer for them.

Real Time Updating:

The best aspect of booking software is that it updates in real time. This means that the second someone selects an appointment and books it, it will immediately show up as unavailable to anyone else. So, if you own a business with multiple locations, you would never again have to worry about being double booked due to a lapse in your scheduling. The customer will only be able to see the days and times that are available at that exact moment.

Upsell and Make More Money:

You can even use some of these programs to try and up-sell your customers. Using the ability to offer add-ons for your service, possible souvenirs, or the use of similar merchandise, you can potentially make more profit on top of the savings you are already seeing.

You might be content with the current system you have in place. Why would you want to just be satisfied with your service? Why not be ecstatic about it and earn more money while having less to worry about? This is what we call, a win – win scenario.

Top 9 Most Sought After Venue Management Software

Venue management software has a very crucial role in the entertainment and hospitality industries and will help sports and convention venues manage private events. People working with this system are responsible for the planning and running of events and group activities. It is better if people utilize venue management software so that they will not have a hard time preparing for an event. Below is a list of the top management software’s used by venue professionals.

Stadium Event Management

Top Venue Management Software

1.) Skedda Bookings

  • This is an online booking system for any space such as working space, meeting rooms, studio, halls, courts, and more. This software is mostly used in offices, studios, sports venues, etc. This has helped businesses increase and grow to become more productive. Skedda allows people to track and define all the spaces that are needed. It is free and easy to use, but it will be difficult to see the rooms or space that have been booked already.

2.) iSmart Spaces

  • iSmart lets you save time managing your space, venues, and rooms. It is also suitable for anyone who has a space to be booked online. You can do transactions like booking and paying online. The software allows you to search a host of available venues and spaces.

3.) InviteBIG Venue Management software

  • This is used in bars and night clubs, amusement parks, concert and music halls, studio and galleries and activity facilities, such as sports. It allows their customers to access bookings in events for 24 hours every day online. They can be accessed through social media and their official website.
  • You can keep track of your transactions, payments, bookings, and communications. They have the following features: billing and invoicing, multi-facility, food and beverage management, sales management, and resource bookings. It will let you experience the easy way to book for simple events.

4.) Priava

  • Priava is a club based management software. This software provides their services to niche markets in the venue and events sector. It has a competitive advantage with a lower lost. They have great systems that are easy to use.

5.) Event Lightning

  • This software has an accurate event billing that includes revenue forecasting. It also has accurate management information to help you make a better decision. It is a good recommendation for any event planning by gig based company. They have an excellent customer service as well. It organizes your events.

6.) Gather’s Venue Management Software

  • This particular software makes organization of events easy. It streamlines the planning process. It can also increase sales and keep your customers satisfied.

7.) Planning Pod

  • Planning Pod keeps tabs on all events that are already scheduled for your venue.

8.) Artifax Event

  • This software is more designed to fit the needs (specialized needs) of people who manage commercial, community, and cultural events. It streamlines your business processes and making it easier by putting the information at your fingertips. It has sales management, business staff management, multi-facility, profit and loss tracking, contract management, billing and invoicing, and many more features.

9.) Bluize Venue Management

  • Bluize controls stock and cash. It has a billing and invoicing and profit and loss tracking.

These are just a few of the many venue management software companies that are out there, and each one offers a great option for your management needs. Ultimately, any of these software’s can help you to increase your productivity and customer satisfaction.