If you are a small business owner, I know how hectic it can be to manage it. Managing any kind of business is a real deal.
Managing expense, accounting, and whatnot. But in the end, it all seems worth it.
Isn’t it?
If we talk about accounting and bookkeeping, they are the two most essential and most overlooked aspects for small and medium business owners.
They are a bit tricky to manage and require extensive analysis and knowledge to carry out.
But don’t you worry because today I am going to introduce you to Bookkeeping for small business hidden secrets medium matt Oliver.
They are a set of tips and tricks that you need to have on your sleeves to be a master of accounting and bookkeeping.
So are you ready to raise the bar of your accounting and book-keeping game?
Yes?
Great!
Let us take a look into the Bookkeeping for small business hidden secrets medium matt Oliver.
Table of Contents
What is Accounting for A Company?
Accounting means having a track of your expenses and income.
In lamen’s language accounting means having a clear picture of the money flow in your business.
You should know where and how much your money is going (expense) and from where and how much your money is coming (income).
It helps businesses to draft a solid plan and analysis their sales and figure out whether the business is in profit or in the loss.
It also helps businesses to track unnecessary expenses so they can counter them.
Why is Accounting One of The Strongest Pillars of A Company?
Accounting may seem a tedious task and it surely requires a lot of effort and management.
But I promise that once you get good at it, you will be able to make wise decisions related to your business’s wealth.
The importance of accounting is that you will come to know what your expenditures are and what your actual income is.
You can keep track of wages, raw materials, inventory, etc. hence, it is a very important aspect of the business.
And Bookkeeping for small business hidden secrets medium matt Oliver is related to same, it is related to tactics that you can follow to upgrade your accounting skills.
What is Bookkeeping for Small Business Hidden Secrets Medium Matt Oliver?
If you are curious to know what Bookkeeping for small business hidden secrets medium matt Oliver is then read along.
Bookkeeping for small business hidden secrets medium matt Oliver is a blog post on Medium where he talks about the secrets of bookkeeping and accounting.
He starts the blog with a very powerful punch line “ if you are a small business owner or an entrepreneur, and you are spending more than 4 hours a month on bookkeeping then read below for the hidden secrets of happy bookkeeping”
This throws the tradition that bookkeeping has to be long and tedious, according to him more than 4 hours of bookkeeping is not only unwise but also unnecessary, you could channel that time of yours into something more productive for your business.
Hence Bookkeeping for small business hidden secrets medium matt Oliver is nothing but a blog written by Matt Oliver showing tactics of a “happy bookkeeping”.
Secrets for happy bookkeeping according to Bookkeeping for small business hidden secrets medium matt Oliver.
So now you may be wondering what are the secrets of happy bookkeeping as given by Bookkeeping for small business hidden secrets medium matt Oliver.
Don’t worry I got you covered, Matt Oliver gave 3 super effective secrets or tools that you can use if you are a small business owner, and these little “secrets” by Bookkeeping for small business hidden secrets medium matt Oliver will help you in better and hassle-free bookkeeping.
Outsourcing Your Bookkeeping
Outsourcing has become a very effective tool in every field, and yes it is possible to outsource bookkeeping as well.
Matt in his Bookkeeping for small business hidden secrets medium matt Oliver blog says that there are two ways of outsourcing.
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Hire A Bookkeeper
Hiring a bookkeeper is a very easy way of taking the stress of bookkeeping off your shoulder.
A professional bookkeeper is very efficient in his work and there will be less chance of error because unlike you a business owner he has just one job.
A bookkeeper seems a very feasible and quick method to fix your bookkeeping and accounting.
Just make sure that you are hiring a professional, who is good at his work.
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Online Bookkeeper
The other way that Matt recommends and himself does is to choose an online bookkeeping service like Bench, which he says is his personal favorite.
He personally loves Bench because of its efficiency and effectiveness and highly recommends it t his readers.
So these were two ways that Matt recommends under outsourcing bookkeeping.
Getting Rid of Papers
As a business owner, your drawers will be filled with receipts, all those annoying pieces of paper that fly everywhere with just one swirl of wind.
Yes, we all hate paper receipts.
But this does not mean that they aren’t important.
Receipts are the proof and record of the money you have spent in buying something for your business hence, they become a very important part of bookkeeping.
So the solution that Matt gives in Bookkeeping for small business hidden secrets medium matt Oliver’s blog is to scan all your receipts and send them to your bookkeepers (offline or online).
This eliminates the hassle of keeping all your receipts safe plus minimizes the chance of losing your important receipts.
Automation
Creating invoices is another tiring task and reviewing them is just so frustrating, and let’s be honest we all want to somehow get rid of creating invoices but still want our payments on time.
So is there a way of doing that?
Luckily yes!
Matt in his Bookkeeping for small business hidden secrets medium matt Oliver recommends a way of doing so and it was to automate invoicing using an app called keap. It is also recommended to use bookkeeping tools like QB Cloud hosted on desktop in the cloud.
Keap is a very efficient CRM system and also automates invoicing and payments.
So these were the three ways recommended by Matt in Bookkeeping for small business hidden secrets medium matt Oliver to make your bookkeeping more tolerable and accurate.
Parting Words
So this was all about the famous blog Bookkeeping for small business hidden secrets medium matt Oliver.
You can check out this blog on Medium and get some really useful chunks of information.
The Bookkeeping for small business hidden secrets medium matt Oliver is surely a good guide for happy bookkeeping and helps small business owners to make their bookkeeping journey tolerable and efficient.
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