Tag Archive: accounting systems



Given all of the things that go into business and all of the pieces that have to come together, typically business owners don’t think about getting their business in order, which is unfortunate because in order to run a successful business, you have to be organized.

For ultimate success, a business should run like a well-oiled machine. There have to be systems and processes in place. It saves time and money, has you making fewer mistakes and keeps you from constantly reinventing the wheel.

Look at the human body. It’s the most magnificent machine there is. It is comprised of a number of automatic systems that support proper function. Each of these systems has a process that and all contribute to the function of the body. The body continues to function properly until one of those processes or systems is disrupted.

The same is true with your business. If you have established systems and processes for every area of your business, it runs like a well-oiled machine. Use of time is maximized and productivity levels are high. If not, things don’t run so smoothly and time is wasted and there are gaps that cause mishaps and poor customer experiences. All of which negatively impact your bottom line.

If your business doesn’t have systems and processes in place, there’s no time like the present to create and implement them. Start by assessing the current situation. Get rid of the things that aren’t working, and then take a close look at what is working and be sure there are solid systems around those things. Next, create the new systems that are missing. Typically you want filing, accounting, client and time management systems.

Each one of these systems is an integral part of running a successful business and coupled with other systems you need specifically for your business they will support you and help increase your productivity and profit. Creating and implementing them isn’t as difficult as it may seem. If you’re a business owner and you don’t have established systems and processes in place, I strongly encourage you to seize the moment and take action now to create the systems that you need to support you in your business efforts.

If you’re one of those people who cringe at the thought of setting up systems or may not know how to go about doing it.  To help you identify the systems you need in place for your business this Key Business Systems Jump Start Package.  This package gives you a template to create 4 basic “must have” systems for your business, a check list to help you identify the additional systems you need and a list of tools & technology that you can use to support your systems.  Get your Key Business Systems Jump Start Kit right here.

 


There are a few other things that you need to start a solid foundation to run your business.  You can’t successfully run a business if you don’t have a good accounting system in place.  For accurate and easily accessible records and having everything in one place, choose one of the user friendly accounting software packages on the market.  If you don’t know how to set it up, make the investment to have someone to set it up for you.  Set up files for your receipts, client invoices, bills, etc and a process for entering things into your software so that everything gets recorded.  Use the benefits that the software has to offer to the fullest extent.

To keep track of your prospective and existing clients, use a contact management system that will allow you to not only enter an individual’s contact information, but one that will allow you to make note of where you met them and what product or service they might be interested in.  You also want to be able to track the times that you’ve spoken with them or attempted to contact them and have a way to set reminders for future follow up.

Finally, you have to manage yourself in a way that has you on top of everything and getting things done, so, yes, you need a system for that too.  If you don’t currently have a time management tool that is working well for you, it might be time to assess why it’s not working for you and determine what tool would be more appropriate for your time management personality.  Once you have the appropriate tool, set it up, learn how to use every feature it affords you and use it to its fullest capacity.  Additionally, set up other components as a part of your time management system.  For example, you want to incorporate the use of a master task list and a daily task list along with the good time management habits of planning and prioritizing to shore you up.

When you put these things into place and use them regularly, you can be rid of the aforementioned scenarios and have control of every aspect of your business.  Even when you’re wearing multiple hats, with these things in place you will be large and in charge, calling all the shots; able to handle your business.


Of all the people in business, many of them are running things by the seat of their pants.  Things are done at the last minute, deadlines are barely met or missed and with no support systems in place, eventually things start to fall through the cracks.  To be in business and to really mean business you have to be on top of things and handle your business.

Doing so means being organized and having systems set up within your business that support you.  Do any of these scenarios sound familiar?

  • You waste time looking for things because your paperwork isn’t organized
  • Your tax returns aren’t filed on time because you can’t find all of your receipts
  • You incur late fees due to bills not being paid on time
  • You miss connecting or following up with prospective and current clients
  • At times you feel overwhelmed
  • You’re working plenty of hours but nothing’s getting done

Unfortunately, these things happen quite often and are a way of life for a lot of people in business.  Typically business owners get caught up and lost in wearing multiple hats and as a result, their business suffers.  Because you wear multiple hats and because life moves at the speed of sound, you have to create systems that support you in running your business.

So, what do you need and where do you begin?  My next couple of posts will get you there.  First we’ll look at eliminating the #1 culprit–paper.


Every business  should run like a well-oiled machine and one thing that helps keep them that way are systems and processes for all areas of business.  Typical systems are filing, accounting, contact management, sales, inventory, payroll, customer service.

Having systems in place with processes inside of them lead to less wasted time from the owner of the company on down, decrease in expenses, fewer mistakes or mishaps and overall, a positive impact on your bottom line.  The absence of systems within a company can cost it greatly.

Look to see what systems you have and which you need to add then establish those systems for  your business and create a step by step processes for each one.  Once they’re created, it’s time to create new habits and begin using them and sticking to the process so that things run like a well-oiled machine.  Doing so allows each system to carry out its related processes in contribution to your office and company running smoothly.  Having them in place and using them maximizes everyone’s time and leads to high productivity levels.

What systems have you got in place?  What’s working and more importantly, what’s not working?  If it’s not working, then it’s got to be addressed.  For example, if you always have trouble finding things, then it’s time to create a solid filing system.  By the way, it’s typical for people to waste 1.5-2.0 hours each day just looking for things.  It gets pretty scary when you start to do the math.  If you’re constantly looking for contact information then it’s time for a better way to manage your contacts, because after all, if you can’t connect with your clients or prospects, you’re going to have issues.  Not much work is getting done when you’re spending time looking for things that could be easily retrieved in 30 seconds or less with efficient systems in place.

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