It’s easy to let daily paperwork accumulate when you run a small business, but neglected invoices and receipts can have detrimental effects on your success in the future. When you take time out each week to attend to basic bookkeeping tasks, you have a more accurate view of your cash flow, and it’s easier to stay on top of past-due payments.
Collect daily expense receipts, customer invoices and bills from merchants in a bin throughout the week, and then take a few minutes to enter the transactions before the weekend. Schedule time to pay bills, follow up on customer invoices and review your cash flow. Consider using online bookkeeping software, such as QuickBooks, to save time and to simplify your record-keeping procedures.