Running an ecommerce business or selling your services online? Then you must know how essential it is for any business to set their priorities about getting sales from working on your various online marketing channels, keeping track of the payments and the cash flow. You need to stay organized in every business operation, process and influx.
In this article, you will be learning about how you can keep yourself organized and in order.
How SEO is crucial for businesses
Not only ecommerce businesses but any small or large business need to be present when their prospective customers search for their products or purchase related advice. This is when SEO comes in. You can be at the top of organic search results when your competitors will barely be visible somewhere at the bottom. There is nothing more important nowadays as working on your search engine visibility. If you are afraid of the cost, there are also a number of cost effective solutions available like affordable SEO for small businesses.
The importance of bookkeeping
You as a business operator need to streamline the process of payments and transactions with an organised bookkeeping system. It is important to keep track of the payments, otherwise you will never get the facts straight about how much cash is flowing in. If the clients are not paying you on time, it can make things difficult for you to meet your own expenses.
To integrate a bookkeeping system in your business is something you must not take lightly. The bookkeeping depends on: the type of your business; on your business goals; and tax structure.
How to keep track of payments received
It may look easy to do but in fact it is burdensome. If you are still stuck with traditional methods of invoicing and then waiting for the client to respond, and keeping track of the payments manually, then sit back and relax because there will be lags in these processes.
If you are not equipped with automated online invoicing, then you will still have to wait for the client to receive the invoice, and then wait again for the payment, even when you do it will take time to get cleared in your bank account. And by the time you are already engaged with the new accounting entries.
Get yourself off the hook with these tiresome obsolete invoicing methods. Switch to an online invoice template, it is the need of the day for you. You can create invoices for your business with a customizable Google Docs invoice template to ensure that you are paid on time for the products you sell or for the services you provide.
If you follow the steps, you will simplify the process of invoicing and receiving payments in time.
- Use any free invoice template such as Google Docs invoice templatefor your invoicing and enter all payment information to avoid delays in the payments.
- After sending invoices and delivery notes, have a close follow-up of the invoices for late payments from the clients. Remember, you must not wait for a month or days past due, call them as soon the payment is delayed.
- Keep your financial records organized. Note down the received payments in a spreadsheet, where you will update the information related to the profit and loss. This will surely give you a clear graph or a track record about the business’s progress or indicate any changes.
- Automate the process of tracking payments and invoices by using accounting softwares. Good accounting software will help you to issue invoices, track the payments, and immediately notify you about the discrepancies in the invoicing and tracking payments processes.