Here are some tips and ideas to consider on how to save yourself and your business money in bookkeeping.
1. Check with your bank for available options such as “view only access/cash management access.” What view only/cash management access allows is for an assigned bookkeeper or office manager to check your bank balances and transactions for entry purposes only. It does not allow the ability for changes to be made on your accounts. This option saves time and money because it reduces the work load on the company owner to the bookkeeper. You do not have to spend time with the banks, printing, pick up/drop off, or emailing the information.
2. Before purchasing or upgrading bookkeeping software for your company, check with your CPA or bookkeeper on which software will best suit your business. It’s common for people to purchase bookkeeping software that claims to tailor to specific industries, or have all the “bells and whistles.” This can be a costly and unnecessary expense. Many times, the simple, less expensive software provide more than enough to sustain your business needs. The cost of fancy software is high; therefore the renewal cost is as well.