The Month of July Round Up!

Photo by Vincent Gerbouin from Pexels

Summer is in full swing. I hope you are taking some time to get out and enjoy it along with some friends. I am trying to get into the season but I might need to work a bit harder. I recently met a friend for lunch at a local eatery that has a pool and she showed up ready to take a dip. I showed up in shorts and a t-shirt with no pool attire in sight.

:)

Such is life!

So, I hope in the midst of the summer fun you are taking time out to work on your business operations. This month I focused on sharing information that can help you to run your business better. The first blog was about workflows and why it is a good idea to have a good system in place to run your business. The benefits of having a seamless process in place to ramp your business up to the next level are so important. Next, I talked about specific tools that you can put into place right now to help run your business better. There are so many shiny objects out there that could help you run your business more efficiently. The key is to not go chase the next new thing but to select tools that solve a specific problem you have in your business and implement the tool.

Summer fun in Las Vegas is here. I hope that implementing some of the information shared in the posts above will help you to get outside and play without worrying if your business is running on all cylinders.

Keep IT Sunny!

Why Is It Important To Have A Good Systems Workflow In Place?

Photo by Christina Morillo from Pexels

Having a good system to run your business operations can make or break you. Picture this: Your business is busy and customers are coming out of the woodwork to buy your services. This is great. It is time for them to pay and you offer a variety of methods for your customers to pay including cash. Your customer pays you in cash and you put the money in your pocket and wave goodbye.

What is wrong with this picture you might ask?

It is great that you sold a service to a customer that wanted to buy it. What isn’t great is that you put the money in your pocket and didn’t have a system to record the payment in your accounting software or track the sale by giving your customer a sales receipt.

Why do I need to have a system in place you might ask?

If you want to know how many customers bought your services, what is a hot seller vs. a dud, how much money you made, and also make sure you keep the taxman happy then a system for capturing all this information is paramount.

In my post last week, I discussed that a workflow is an organized system that is created to handle your business operations. Most people know this as S.O.Ps or standard operating procedures. Creating procedures to handle each area of your business will ensure that nothing falls through the cracks and that you are able to measure and track information that is important to you. Next week we will look at tools that will help you to systemize different areas within your business.

Keep IT Sunny!

Welcome To The Month of July!

I hope you had a wonderful 4th of July holiday with your friends & family. The month of July is here and we are going to take a deep dive into all things related to workflows. What is a workflow? According to Kissflow, “A workflow process is a series of sequential tasks that are carried out based on user-defined rules or conditions, to execute a business process. It is a collection of data, rules, and tasks that need to be completed to achieve a certain business outcome.”

That was a mouthful!

Do you have an organized system in place to handle your business operations? If not now is a good time to start thinking about what that system will look like under the following areas:

• Accounting

• HR

• Marketing

• Business Development

• Daily Business Operations

This month we will take a look at the reason why having a workflow in place is so important, easy steps we can take to get us on the right track and what the ending resulting will feel like. Buckle up and let’s go on a workflow journey.

Keep IT Sunny!

Follow The Rules Of The Road!!

Photo by Sebastian Palomino from Pexels

The key to building a solid foundation for your business finances is to follow the rules of the road. In the blog post last week we took a look at the chart of accounts in relation to building a solid foundation for your business finances. This week we will take a look at workflows in QBO. First, I need to ask the question:

Are you a rule breaker or rule follower?

 I know that I am equal parts rulebreaker & part rule follower:) 

When it comes to using QuickBooks Online I am definitely a rule follower. In order to ensure that you are getting the most out of the software, it is important to follow their predetermined workflows. One area that I see a lot of “rule-breaking” around is not using the workflow for receiving payments. The scenario can go something like this: your customers pay you and then you receive the payment and deposit the funds into your checking account within QuickBooks Online. 

This Is Great:)

You provided the service and your customer paid you. It sounds like everything is working okay UNTIL you try to reconcile your account and the money you deposited to your bank in real life isn’t matching what is showing in QuickBooks Online.

What Is Going On Here?

The problem is that the predetermined workflow was skipped and as a result confusion and frustration have taken hold. The proper workflow is to receive payments against the invoice and select the “deposit to” account undeposited funds. Next, the deposit that you made at your bank will show up in the bank feed and there will be a match that shows that you are good to go. In contrast, when the workflow is skipped then the funds you deposited into the checking account will not match what is shown in the bank feed because they are not grouped together which is how you made the deposit at your bank in real life.

I am a free-spirit and rule-breaker on something like eating more sweets than I need to. :)

But when it comes to QuickBooks Online following the rules is best because it can help you to build a solid foundation for your business finances and avoid frustration. 

Keep IT Sunny!