DIY Bookkeeping Made Easy: 3 Hacks to Streamline Your Process
Hey there, DIY bookkeepers! If you're like most of my clients, you probably started your business journey by rolling up your sleeves and diving into the world of bookkeeping yourself. And hey, that's great! But let's face it, keeping those financial records in order can sometimes feel like trying to untangle a ball of yarn in the dark.
I've got three game-changing hacks that will make your life as a DIY bookkeeper a whole lot easier. So grab a cup of coffee, sit back, and let's dive in!
👉 Connect Your Bank Feeds
Tired of spending hours manually entering every transaction into your bookkeeping software? Say hello to bank feeds! Linking your bank account(s) to your bookkeeping software can be a game-changer. Not only does it save you precious time on data entry, but it also reduces the risk of human error.
An extra tip: keep an eye on those categorization rules to make sure everything's being sorted correctly! Setting up your own rules is great, but disable the “auto-add” feature in QBO - AI tech is great, but a human should always double check it.
👉 Set Calendar Reminders
Let's be real, life gets busy, and it's way too easy to let your bookkeeping tasks slip through the cracks. That's where calendar reminders come in handy - set yourself a friendly nudge for the day your bank statements are released, so you never miss a beat. If you use another task management software like Asana or Trello, simply set yourself a recurring task for downloading your bank statements. Trust me, your future self will thank you for staying on top of things!
An extra tip: you can set yourself reminders/recurring tasks for all kinds of bookkeeping to-dos! I have recurring tasks for downloading statements, categorizing bank feeds and reconciling accounts, just to name a few. Don’t be afraid to really set yourself up for success!
👉 Don’t Mix Business & Personal Expenses
It's like trying to unscramble eggs – messy, frustrating and time-consuming. Keep things clean and tidy by having separate bank and credit card accounts for your business. Not only does it make your bookkeeping a whole lot easier, it also makes tax time easier.
An extra tip: if you do accidentally use your business card for a personal expense, don’t panic! This isn’t the end of the world, you just want to avoid making it a habit.
So there you have it, three simple yet powerful hacks to streamline your DIY bookkeeping process. With a little bit of organization and a sprinkle of tech magic, you'll be mastering your finances like a pro in no time. If this all sounds like too much to manage on your own, book a free call with me any time and find out how I can help you!