What if I told you there’s a tried and true way you can focus on running your business and worry less about your financials?
Keeping bills organized in your home office business can be a dreary task. It takes organization, and it’s certainly less fun than pursuing the dreams and passions on which you started your business.
Start today by creating these routines that will help you stay financially organized throughout the year:
- Invoicing day: choose a day of the week to run and send all your invoices. Monday is a preferred day for sending invoices because you give your customers a full week to receive and process
- Pay day: choose a second day to write and mail checks, Friday makes good sense because it’s always a good idea to end your week wrapping up loose ends. Choose a convenient time of day and schedule 1 hour in your planner
- Stick to it: commit to these weekly appointments religiously. Schedule your billing day and bill pay days in your planner, smartphone or Outlook planning software as a repeating appointment
- Create a bill station: set-up a box containing all your billing supplies. It should include stamps, envelopes, return address labels, checks, and pens. Make it easily accessible
- Try Day-Timer’s Bill Payer’s Bundle and never miss a due date or pay a late fee again!
- Set-up automatic payments: any step you can take to automate routine processes keeps you from missed payments and finance charges
- Dedicate an inbox: Create a file or folder for each month of the year, and drop file the bills, receipts or other records or scan and file them electronically
- File everything: Use color-coded files and seperate out what you’re Filing to Pay, Filing to Invoice, and Filing to Record. Always schedule task reminders for filed items needing action
- Label your key categories: expenses, vendors, accounts, and utilities is a great start. Make sure you update your file system weekly in order to keep it relevant. How? Run through each folder and remove non-essential records
- Go paperless: Most invoices can be easily digitized and archived with a scanner – request paperless billing whenever possible
Running your home business is tough enough without getting behind in your bills and invoicing.
Start today with this simple set of routines that will organize your finances and make billing activities easier and less stressful.
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