The Importance of a [System]: Part 1 "What is your system or policy for that?" The most common response we hear is, "funny, you should ask; we don't have one."
A system is defined as procedures to follow to complete a needed task, a framework, or a method. Following a system is extremely important when working remotely to support businesses' bookkeeping. Bookkeeping can be stressful constantly keeping your books updated, streamlining and integrating all the individual platforms, and creating efficient workflow practices. But good news, there are professionals, such as ShoreSource Business Solutions, that can help! (Shameless plug, we know!)
Top Benefits of a Process:
Organization & Confidence: An efficient and effective process allows for the organization of information, platforms, and books. By quickly locating information, you can increase efficiency and spend time doing what brings revenue to the business. Not only is it beneficial to have your books in order, but the confidence that you will have from the organization can help you as an owner, a manager, and a leader. And yes, even your spouse might notice a positive difference!
Create Cashflow: Knowing the ins and outs of your business books is critical to helping you create a favorable cash flow scenario. A business owner needs to understand when expenses are due and how the influx of cash impacts your day-to-day operations.
Beyond the two benefits discussed on this blog, it's almost a requirement to have an established process to organize and manage your books. Because of the many different online platforms where information is stored today (online banking, inventory management software, scheduling), the value of a streamlined process becomes necessary. As we all know, growth brings its own set of new problems. Be prepared today and ensure your systems are in place.
Are you interested in learning more about ShoreSource Business Solutions, LLC?
Feel free to reach us at 843.729.2961 or firstname.lastname@example.org.