When it comes to owning a business, there are a lot of fun parts - like making money and creating happy return customers - but one of the most dreadful tasks is keeping on top of the books. Surprisingly, many small businesses still do their accounting the old way, the hard way. However, with automation so affordable to even the smallest of businesses, there is no reason you shouldn't keep your books the smart way.
If you still do it with a pen and a pad of paper, taking inventory will eat up precious business days. By automating your inventory with cheap and effective programs like Fishbowl, you can cut the time you spend managing inventory in half, if not more. Inventory automation software integrates with your accounting and bar code scanning software so that you can scan, save, and store what you have. This helps you better keep track of what you need and drastically cuts down on inventory errors that are the result of miscounting.
There is nothing more awkward than when a vendor gives you a call to chew you out for not being paid. It is a mistake that has happened to everyone without automated invoicing. However, automation software like QuickBooks lets you do more than automatically generate invoices that you can see, e-mail, or print for your personal record. With payment features and integration with other accounting software that stores invoices and receipts, you can always stay on top of who you are paying and whether you still need to pay them.
Figuring out payroll taxes is one of the biggest, most tedious administrative burdens for small businesses. Doing it without the help of software can take hours, and sometimes it is not always as accurate as you would hope. However, with automating software like Intuit's Payroll, you can generate instant paychecks, automatically calculate the tax, and all while avoiding tax penalties.
By automating these three tasks, you will save both a lot of time that is better spent on your business and a lot of money that you can put back in. To learn more about helpful bookkeeping tips to help save you time, money, and a huge headache, contact us today.