325: Time Blocking For Better Bookkeeping Habits Whether You Are Starting A Business Or Side Hustle, A Solopreneur, Entrepreneur, Mompreneur, Freelancer, Bookkeeper, Virtual Assistant, Business Owner
- Financial Adventure, LLC
- Aug 6
- 9 min read
325: Time Blocking For Better Bookkeeping Habits Whether You Are Starting A Business Or Side Hustle, A Solopreneur, Entrepreneur, Mompreneur, Freelancer, Bookkeeper, Virtual Assistant, Business Owner, Or Self-Employed
Business owners often struggle to find the time to do the bookkeeping for their business. This is a topic that I see come up often with many of the business owners I work with. I understand how much this can cause issues in your business, especially when you know how important it is to have your bookkeeping up to date and review the data it shows about your business so that you know exactly how your business is doing. Managing finances is often the last thing business owners want to do unless, of course, you are a bookkeeper or accountant yourself. In today’s podcast episode, I am diving into practical tips and strategies that will help you not only have you up to date with all your bookkeeping tasks but it will free up more time for your business as well. Whether you are starting a business or side hustle, you’re a self-employed individual, a solopreneur, entrepreneur, mompreneur, freelancer, small business owner, a remote, virtual, online, or in-house bookkeeper, or a virtual assistant or VA; bookkeeping is one of those things in your business that you need to take seriously so that you can not only have this accurate information to do your taxes, but you’ll be able to utilize the information you see in your business to make smart business decisions…
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Show Notes:
Business owners often struggle to find the time to do the bookkeeping for their business. This is a topic that I see come up often with many of the business owners I work with. I understand how much this can cause issues in your business, especially when you know how important it is to have your bookkeeping up to date and review the data it shows about your business so that you know exactly how your business is doing. Managing finances is often the last thing business owners want to do unless, of course, you are a bookkeeper or accountant yourself. In today’s podcast episode, I am diving into practical tips and strategies that will help you not only have you up to date with all your bookkeeping tasks but it will free up more time for your business as well. Whether you are starting a business or side hustle, you’re a self-employed individual, a solopreneur, entrepreneur, mompreneur, freelancer, small business owner, a remote, virtual, online, or in-house bookkeeper, or a virtual assistant or VA; bookkeeping is one of those things in your business that you need to take seriously so that you can not only have this accurate information to do your taxes, but you’ll be able to utilize the information you see in your business to make smart business decisions…
Welcome Back…Do you think about doing the bookkeeping for your business as a daunting task? I get it, and I see this same thought with many of the business owners that I work with. It’s pretty normal for a business owner to think this, especially when you are running a business that specializes in something you are passionate about, but that passion doesn’t extend to doing the books or managing the finances. But I know you understand how important your business finances are to your business, right? Understanding your business finances is crucial for making smart business decisions as well as growing your business and achieving your goals. When you are ready to find the time to focus on your bookkeeping, the first thing I want you to do is to make sure you are prioritizing your bookkeeping just like you would do with any other essential task in your business. You need to allocate time that you will dedicate to focusing on strictly doing your bookkeeping. This may be daily, weekly, or even monthly. By having a consistent schedule in place, it will help prevent your bookkeeping from piling up and becoming an overwhelming chore. I hear so often about how business owners have to spend their weekends catching up on their bookkeeping. Be sure to schedule this time in your calendar and honor the amount of time you have set for your bookkeeping…even if you don’t feel like doing it. Let the time you set hold you accountable to get it done. I always tell my clients that the best way to have motivation for getting something done is not to wait for the motivation. You just need to get started on it, and as you work through the task you are focusing on, you’ll get that sense of motivation because you are actually getting things done.
I know your time is precious as a business owner. You have a lot on your plate, so consider leveraging technology to streamline your bookkeeping process. There are numerous accounting software options available to help you stay up-to-date with your bookkeeping. I highly recommend using either QuickBooks Desktop or QuickBooks Online. If you are interested in learning more about either of these options and saving 30% on your first 6 months, you can go to www.FinancialAdventure.com/resources. When you use a computerized software solution for your bookkeeping, you can automate your data entry, simplify your invoicing, track expenses and integrate your bank accounts to take advantage of allowing bank feeds to automatically import your entries. Many of these software options have a fee, but I want you to take into consideration the amount of time you will save by having a solution that can help you streamline your bookkeeping. Not to mention how easy it is to generate reports on your financial data after you’ve recorded your transactions. I also love the option you have when you are working with QuickBooks Online to add your accountant or tax preparer to your data file so that they can get all the information they need to prepare your tax return without you having to print out reports or do a back up to get your data to them. This alone saves business owners time and is something that is often put off as a low-priority task.
Organization is the next thing I want you to think about when you are trying to find time to do the bookkeeping for your business. Try to keep your financial documents and receipts well-organized from the start. By creating a system, either electronically or in paper form, for your income, expenses, and tax-related documents, you’ll save time by not having to hunt down misplaced paperwork. Having a system in place to keep everything will also reduce any overwhelm you may be feeling when you have piles and piles of paperwork on your desk and you are unsure where to put them. You also have the opportunity if you are using QuickBooks Desktop or QuickBooks Online to upload documents so that you can find them easily with the transactions you are recording.
If you’re an accountant or high-stress professional, you want to start enjoying your life more, both at work and at home. You’ve likely built a successful career, but at what cost? The problem is you’re so buried in deadlines and to-do lists, there’s no time or energy left for the things that really matter. You’re great at managing clients, deadlines, and numbers, but your own stress, time, and well-being, well, they always seem to come last. The constant pressure leads to burnout, guilt, and feeling like no matter how much you do, it’s never enough. I see this all the time. As a CPA with over 20 years of experience and a Certified Coach, I’ve helped high-achieving professionals like you go from stress and burnout to a more integrated and balanced lifestyle using The RE*INVENTION™ Process. This process helps you reduce stress, reclaim your time, and finally build a healthier, happier, more balanced lifestyle without sacrificing your success. The truth is, stress doesn’t go away on its own, and eventually, the cost isn’t just exhaustion; it’s your health, your relationships, and your love for the work you once enjoyed. If you’re ready to build a life you don’t need a vacation from, it’s easy to get started. First, schedule your Complimentary Stress Audit & Clarity Session where in just one session, I’ll help you pinpoint what’s really draining your time and energy, create a personalized action plan to help you simplify your life, reclaim your time, and increase your productivity so that you start living with more energy, focus, and freedom. You don’t have to keep doing this alone. I can help you customize a plan to stop the overwhelm and start enjoying your life again. Go to www.FinancialAdventure.com, click on the Work With Me button, and book your free session today. Let this be the moment you stop just surviving and start living with more control and finally enjoy a more integrated and balanced lifestyle again. In the meantime, check out all the other resources and solutions on my website that you can immediately apply to your life so you can stop being stressed out and feeling like you're never doing enough and instead breathe a sigh of relief at the end of the day knowing you've accomplished enough and can enjoy your life more.
I want to touch on multitasking for a bit here as well when we are talking about finding time to do your bookkeeping. You might be thinking you can get more done when you multitask, but in reality, you are more than likely taking twice as long to get each task done. When you juggle numerous responsibilities and try to do everything at once, it can lead to inefficiency and errors. If you can instead focus on a single task when doing your bookkeeping and dedicate a distraction-free environment, you’ll find yourself completing the task more efficiently and accurately. If you don’t believe me, just try to stop multitasking for a week or two and see if your efficiency improves. This can be fun to see in not only the bookkeeping area of your business, but try it out in other areas of your business as well, and let me know how it goes. I always love hearing from you.
Bookkeeping is something that you’ll need to continue doing throughout your business, but that doesn’t necessarily mean that you personally have to do the bookkeeping for your business. You will need to assess when you might need to seek help with your bookkeeping. When you do your own bookkeeping, it can help save you money, but there may come a point in time when it makes sense to delegate this responsibility. By hiring a bookkeeper or accountant, they can provide expert insights, ensure compliance, and give you more time to focus on growing your business. Your bookkeeper or accountant should also be a resource for you to continuously learn about your business. As your business grows, you’ll want to stay informed about changes in tax laws, accounting practices, and industry-specific financial considerations. You’ll want to make sure that you understand what your financial statements are telling you about your business as well as what you can do to achieve the goals you are setting for your business.
Bookkeeping is an important aspect of running a successful business and deserves your attention. By incorporating these strategies into your routine, you’ll find that balancing your books becomes a manageable task that, once you prioritize, you will find the time to accomplish. Enjoy the journey your business is taking and utilize your financial statements as a compass that guides you to reach success in your business.
And, you know I’m going to ask…what’s at least one thing you will take away from this episode that will help your business succeed and grow your bottom line? If you want accountability or support, visit www.FinancialAdventure.com. You’ll find links to join our private Facebook community, connect with me on LinkedIn, and discover more free resources to help you reduce stress, boost productivity, and build a business and life you truly enjoy. I’ll see you there.
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