There are endless ways to accomplish any job – and some ways are better than others.
Think about using fresh herbs – we all know those plastic containers that you can buy for about $4 and get maybe ½ cup of mint, basil, or rosemary from. This is a fine way to use fresh herbs — there’s nothing wrong with doing it that way. But the most clear cost-efficient way to do this is to just buy your own plant! You will probably spend $5 total on a plant that will supply you with herbs at least all summer long – and if you buy mint, you’ll have a harder time getting rid of it than keeping it alive! The point of this example isn’t to tell you that you should start a home garden – it’s to point out that just because you’ve always done something a certain way, that doesn’t mean it’s the only way.
In other words, we can get stuck on autopilot for certain things in life and not even realize it.
Think about your lawn care business:
Money management for business owners is often a shot in the dark – especially at the beginning. We do what seems most logical (whether that’s what our family, Google, or neighbor told us) for things like budgeting, credit cards, and savings accounts. Maybe this does the job while you’re getting things figured out. But then business and life get busy and suddenly, you look back and realize you’ve been managing your money using those old default methods from years ago. Maybe you’re DIYing your bookkeeping like you buy those little herb containers — doing what you need to get by, but coming up short sooner than you expect.
Surely there are better bookkeeping practices right out of reach, right? We think so.
Read through these common bookkeeping mistakes and see if they sound familiar:
- Bookkeeping Slip-Ups
Whether caused by carelessness, distraction, or busyness, the majority of bookkeeping issues come from simple mistakes that add up over time. These slip-ups are often things like falling behind or skipping reconciling, losing receipts, or not tracking reimbursable expenses. It’s easy to let a receipt fall into a hidden corner of your car or accidentally get thrown away – but those small mistakes add up, and can turn your bookkeeping into a much bigger headache than it ever needed to be.
- Not Planning Ahead
While running a business, it’s easy to focus only on what’s happening right before you. Especially during the busy season, you’re juggling a lot – managing staff and contractors, making sales, working with clients, repairing equipment, and the list goes on.
With all of this juggling, you may come to the end of the summer with an overstretched budget and no plan for how you’re going to make it through the slow season. Slow and steady planning with a focus on the whole year will serve you so much in the long term, rather than trying to cobble a plan together halfway through the year.
- Trying To Do It Yourself
If all of this strategizing and upkeep sounds like a lot…it’s because it is! Managing your business’ finances isn’t something that can be saved for the end of the day or month when you’re already exhausted. Your company’s money deserves the attention and expertise that a trained professional provides.
What you should do instead:
By outsourcing your bookkeeping — especially to someone who understands your industry — you can ensure that they’ve got your back. They’ll help you stay on top of reconciliation, receipts and expense tracking so you can focus on taking care of your customers.
Working with a company like AccountSolve will help you stay on top of everything in the short term and set you up for strategic profits in the long term. We’ll guide your cash flow for the busy season and the slow season — so you don’t have to worry in seasons of feast or famine.
Ready to let a professional handle the money so you can better run your business? Schedule a call with Account Solve today, and let us handle the rest.
