Bookkeeping and accounting are important for any business. Maintaining the books of accounts takes some effort. There are many steps involved in the accounting cycle. Oftentimes, accounting, and bookkeeping teams can get lost in the paperwork jungle.

If your team is investing too much time and effort maintaining books and analyzing accounting & bookkeeping processes, you need to come up with a plan to reduce their workload. Which ensures they have enough time to invest in more productive tasks such as creating accounting policies for the organization.

Here are some tips to save time and money with accounting and bookkeeping services from an accounting firm in Santa Rosa.

Go Paperless

Storing papers can be a hassle. Papers are easily misplaced and can get damaged. If you still depend on a pen-and-paper-based system to record transactions, now is the right time to switch to a bookkeeping software.

Advanced bookkeeping software are designed to automate bookkeeping processes. They reduce manual errors and speed up the data entry process. A bookkeeping software can streamline your bookkeeping and help save time taken for approval of invoices and cash disbursements.

Once you link your bank account or credit card to your software, it will automatically track your income and expenses, categorize them, and send or pay invoices.

Separate Business Finances and Personal Finances 

Have separate savings accounts, checking accounts, and credit cards for your business and personal use. This will make bookkeeping much easier. Separating personal and business accounts will save you the trouble of digging into piles of records to distinguish between business and personal purchases.

Periodically Check Books for Accuracy

Even minor calculation errors committed while preparing books can cost you big. If you are using an accounting software, calculation and other mistakes may crop up occasionally, which is why it is important to periodically check your books for accuracy.

Go Cashless

Many business owners who use cash lose track of potential write-offs. Cash-only businesses face many accounting problems. Cash can get commingled and is extremely difficult to keep track of. Additionally, you will have to invest in a lot of time and effort to input information manually and accurately.

Instead, use a business credit card that provides you with access to a revolving line of credit. Your accounting firm in Santa Rosa will help you choose the right card for your business.

Whenever you withdraw cash from an ATM, remember to note the reason for the withdrawal at the back of the receipt.

Are you struggling with bookkeeping? Let Virtual Jeannie Bookkeeping Services Inc. help. Our bookkeeping experts will closely study your processes to identify errors. Once we have a better understanding of the challenges plaguing your business, we will formulate a plan to streamline your bookkeeping. To get in contact with our team, call us at (707) 664-1425.