Business Hacks, QBO Best Practices, and What Your can Learn from The 4-Hour Work Week.
Tim Ferriss' popular book, The 4-Hour Work Week is not about how to engineer your life so that you only need to work a few hours a week. It's about being more productive and less busy.
Productive work is work that moves you towards your goals. Busy work is work that eats up your time and adds little to no real value. Productive work has a high return on investment (ROI). Busy work is like an inefficiency tax that ultimately leads to entrepreneurial burnout.
Sending invoices manually is busy work.
Sending invoices is time consuming and administrative - classic busy work. One of the principles and key takeaways of The 4-Hour Work Week is to relentlessly automate, eliminate, or outsource busy work so that you can focus on what really matters.
Automate, Eliminate, or Outsource Busy Work
Quickbooks Online has a menu of automation features under the recurring transactions tab. Scroll down the list and select the recurring invoices option. The user interface shown below in Figure 1 will appear and you can input your invoice scheduling parameters. As a safety measure, you can leave the "Automatically send email" box unchecked so that you have time to review the invoices before they go out to your customers.
Recurring Invoices
Automating your accounting process with the Quickbooks Online Recurring Transactions will reduce your administrative workload by leaps and bounds, but I'd like to challenge you to go even further. Do you even need invoices ? It's a fair question. Quickbooks Payments allow you to store client cards on file so that you can charge them automatically. This way, you could shift to semi subscription model pricing to eliminate the need for detailed invoices. You can use Sales Receipts instead. Here's how to use Sales Receipts in Quickbooks Online.
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