As a direct sales consultant, you wear many hats and probably feel overwhelmed with no idea what you should be doing on the accounting side of your business. We would like to share with you some best practices of direct sales accounting.  We have made a list of some of the responsibilities you have as CFO (Chief Financial Officer) of your direct sales business.  Always remember to treat your business like a business.

Daily

  • Sell an item
  • Process invoice
  • Print invoice
  • Mark on invoice when Paid and Shipped
  • Once paid enter invoice into BluSavvy bookkeeping software
  • File paid invoice into invoice folder
  • Keep mileage log in vehicle

Weekly

  • Reconcile invoice listing to payments
  • Reconcile Payments to Bank Account
  • Record expenses in BluSavvy bookkeeping software
  • File receipt into receipt folder (organize by vendor or by month) – if for a business meal, write on receipt who it was with
  • Enter mileage log into bookkeeping software

Monthly

  • Reconcile business credit card statement to expenses in BluSavvy bookkeeping software
  • Reconcile bank statement in BluSavvy
  • Review Income Statement in BluSavvy and compare to prior months to see performance

Quarterly

  • Send Income Statement from BluSavvy to tax CPA for tax planning

Annually

  • Send Income Statement from BluSavvy to tax CPA to prepare tax return