The holidays are here and it’s harder than ever to focus on work. Lot’s of normal tasks are pushed aside as you rush to get ready. Unfortunately one of the first things to go is bookkeeping for your business. Compounding transactions from Oct-Dec can be a tough surprise come the new year. What are things you can do to prevent this? I have some ideas for you.
One of the best inventions in accounting was the online softwares that makes it possible to almost automate your bookkeeping with things like Rules in QBO. Utilize this as much as possible for your regular transactions like insurance and business meals. This will make the load easier when you do get on to complete your bookkeeping. Just make sure to put the transactions in the correct accounts.
Another way to make sure the bookkeeping gets done is to put it on your schedule to add in transactions. At least once a week is a good start. It’s a great way to get into a bookkeeping cycle habit, and will help you throughout the rest of the year as well.
If a holiday is close and you don’t have time to get it done beforehand, try to make sure you put a time on your schedule to do a bookkeeping marathon. Just make sure you are careful when adding in the transactions to avoid any mistakes from happening. Always double check the bank memo to make sure the QBO suggested account is correct.
Above all, enjoy your holidays! This is meant to be a time off to spend with your family so don’t stress too much.
How are you spending your holidays? Let me know in the comments!
