Bad Habit: Ignoring Your Bookkeeping

If you haven’t noticed, we have been talking a lot about bad habits this month and we would definitely have to turn in our membership cards to the “Badass Bookkeepers Club” if we didn’t bring up bad bookkeeping habits (that club doesn’t exist, but it should. Let’s get matching jackets).

If you don’t have a bookkeeper, you definitely shouldn’t put off:

Categorizing transactions: Not only are you likely to forget what things were, some banks don’t show transactions very far back, and you won’t be able to see who checks were to, or where deposits came from.

Reconciling: We got into depth on this last week, but basically, reconciling ensures that nothing funky is happening in your accounts like fraud or duplicate transactions.

If you DO have a bookkeeper, those things are already being done for you, but you still have responsibilities, such as:

Ask Transactions: Your bookkeeper will set aside transactions they need more information on. If you stay on top of that list, it makes tax time SO MUCH easier and puts you at the top of the priority list for getting things closed out.

Reports: Periodically take a look at your provided financial reports and if anything looks weird, ask your bookkeeper to clarify. This is the best way to find any errors or things that ran through your personal account by mistake.

Checking in: Depending on the size of your business you may want to check in as often as monthly, or as little as mid year and end of year. Regardless of the time frame, it’s important to schedule meetings with your bookkeeper regularly for the most accurate numbers and the best advice possible for healthy growth.

We are all doing the best we can, so you shouldn’t feel bad if you aren’t perfectly executing in these areas. Just resolve to do a little better every day, and if you need help, we have you covered! Visit the link in our bio and you can: schedule a new client consult, schedule a current client meeting, download resources to get you on track, sign up for our newsletter, listen to the podcast and so much more!