Today I travelled to a lovely business owner nestled on Lake Ontario. This women is truely inspiring. In fact I believe she has secretly found the Fountain of Youth somewhere.
Although not pinpointing her exact age she's in her eighties! Her and her loving husband run an Antiques shop. Quite well too. These are a couple that still #hustle @Garyvee.
Naturally with age some tasks with bookkeeping become a nusance. One of them is writing cheques by hand. So the purpose of my visist today was to see how bill paying can be more efficient and less of a burden.
First the focus was to identify what she "likes" doing. Afterall why take that away. That's passion! Then determine what the pain in the a$$ tasks are. Turns out the nususance stuff was paying utilities bills via hand written cheque and taking them to the bank to process. Online banking is rather cumbersome for this dymnamic duo.
The answer was clear. Let put these charges on your company credit card this will elimate two steps immediatly and ensure the account is paid on time. Then I'll follow up with a credit card reconciliation each month to ensure the proper amount has been charged and that no reconciliing items exist.
Just like a bank reconciliation a credit card reconciliation can also be used with many bookkeeping software packages. Its quick and simple.
So challenge yourself to minimize your bill paying burden. Charge it! I recommend looking for a credit card with cash back option. It's nice to see the credit each period rather can collecting points. Keep in mind that its not free cash. So keep that balance paid each month. Better yet set up an automatic credit card bill payment option to take the funds directly from your operating account.
Wishing you a burden free day!
want to know more about @Quickbooks. Drop me a line on Twitter @mooredetails. I would love to help.