Whether you're a solopreneur or have a small staff including a bookkeeper, the task of staying on top of bill due dates can be overwhelming.
Every client that I've worked with, from 6-figure businesses to companies with hundreds of millions of dollars in annual revenues, struggles with finding a system of automating the payments and receipts. And staying on top of the paperwork.
While there are tools that can make this area less painful (be sure to check out my post about bookkeeping programs), there are 3 changes you can make to your bill payment process to alleviate some of your headaches.
- Schedule all of your payments to go out on one or two days only. You may have to call some vendors and ask them to change your monthly due date, but I promise they won't mind if you tell them that this is to make sure that get paid.
- Enter all of your Bills Due into your bookkeeping program. Do it for as far out as you can, at least 3 months.
- Pay bills online. Seriously, why do we still use checks? Ugh.
And there you have it! No more scrambling through out the month trying to pay this bill or that bill, or figuring out where the payment information is located.
Did this post help you? Let me know in the comments below!
Danetha Doe is a cloud accounting expert. A business coach and former NFL Cheerleader, she is on a mission to bring sexy back to the world of accounting.
For weekly accounting tips, sign up for my weekly Money and Mimosas newsletter.