4 Important Bookkeeping Tasks To Do Every Week

Managing the ongoing bookkeeping tasks for your small business doesn’t have to be an unpleasant task, especially if you have systems in place to track your finances on a regular basis. The most important part of running a successful business is to handle the cash flow, and weekly maintenance can set you up for success.

Here are four tasks that must be done on a weekly basis if you want to succeed. If you don’t have time to handle these tasks on your own, then you might consider the option to hire bookkeeping services:

  1. Transaction Recording: Make sure that daily transactions are being recorded in your accounting software. It is important to be managing both incoming and outgoing transactions. Keeping these records up-to-date will give you an accurate picture of your daily cash flow.
  2. Receipt Filing: In addition to tracking the transactions, you need to be sure that you are keeping copies of your documentation and receipts as well. This paperwork is essential to back up the business write-offs and show proof in case you are audited.
  3. Review Invoices: Are you waiting on payments from clients? Reviewing these details is necessary to follow up with other businesses and clients to ensure that payments are received in a timely manner. Have a system in place to send updates and reminders if payments are late.
  4. Paying Bills: It is also important to make sure that you are paying your own bills on time. Keep track of the due dates for payments such as rent, utility bills, vendor payments, etc. These items are essential to keep your business in good working order.

One of the biggest mistakes that you can make is to procrastinate these items and let the work build up over time. Keeping track of the transactions on an ongoing basis is essential for the long-term success of your company. Small tasks on a daily and weekly basis can save you a lot of time and effort in the long run, because you will be able to stay ahead of the work.

If you don’t have the time or desire to manage these bookkeeping tasks on your own, then one of the best things that you can do is to hire a full service bookkeeping company. At Easier Bookkeeping, we offer affordable bookkeeping services to help you stay current with your financial records. Contact us for more details: (888) 620-0770

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