- Invoice your Clients Regularly: Get in a habit of invoicing on a regular basis, whatever frequency you need to stay on top of the invoices. Bi monthly, weekly or daily, make sure you are keeping that cash flow coming in. Utilize your bookkeeping program’s features to keep this task in check. For example on QuickBooks Online, you can set up recurring invoices automatically, and email them to save on postage.
- Reconcile Your Bank Accounts Monthly: This is an excellent way to make sure you do not miss a transaction. It is also half the battle to keeping your HST up to date, and on time. If you use a credit card for your business, make sure you are reconciling that account as well.
- Consider how much time you are spending on your bookkeeping a month. Is it taking away from your income earning potential? Could your time be better spent focusing on your business and outsourcing your bookkeeping? Or are you always falling behind? This is only a decision you can make!
