Your small business may have anywhere from one to 50 workers at any given time. Have you ever heard the saying “it’s better to have X and not need it than the other way around?” This principle can also be used to refer to any small business emergencies you may face in the course of your work. Today’s small business bookkeeping tip is on having an emergency kit.
1. First Aid Kit
Unfortunately, injuries can happen in the form of anything from a paper cut to a slip and fall. Having a first aid kit that is suitable for your work environment can help you deal with the issue immediately. It can help quickly resolve a small injury, or help address a serious injury while help is on the way. You know what type of injuries your business is subject to and should plan accordingly. Of course, always call for emergency help when needed.
2. Emergency Office Supplies
Say you are a retailer. You deal in a lot of cash and credit transactions. Most or all of your customers require a receipt. An inability to provide one can spell disaster. Using this scenario as an example, you would always have more receipt rolls than you need, especially since they do not “go bad.” You would also even have a ton of receipts that can be handwritten should your point of sale system never go down. Each business is different. However, a few office supplies you should always have more of than you need include:
- Printing paper, ink, toner, and related supplies.
- Light bulbs and other lighting supplies.
- Toilet paper, paper towels, and other toiletries.
- Pens, pencils, and other writing utensils.
- Calculators for adding expenses and other uses.
- Bottled water or tanks of water in case the supply is interrupted.
- Fans, heaters, or other heating and cooling systems should the HVAC go out.
- And anything else that could be labeled a catastrophe should you run out of it.
3. Data Backups
No matter what type of business you run, your data is precious. Everything from sales to payroll is crucial and can lead to disaster if lost or compromised. This is why we recommend using a professional data backup system to care for and guard all your data. However, those of you with a bookkeeper do not have to worry. He or she has your financial records on file should the worst case scenario happen. If you need an extra safeguard or need to protect assets beyond the financial, can check out this list from PC Mag on the best cloud best data backup services for small business.
4. Emergency Inventory
Are you an inventory heavy business? Running out of a certain product or even all of them can sound good on its face. However, imagine you sell out or are running low on a certain product. You drag your feet on restocking. A huge order comes in. You can’t fill it. Your potential buyer goes somewhere else for this and all other purchases. Inventory management is essential to any business that relies on these types of sales. Luckily for you, an experienced bookkeeper can help you develop a plan for how much time and money to spend on your inventory.
Small Business Bookkeeping Services in Houston & Have an Emergency Kit
Does your Houston-based small to mid-sized business need the help of a bookkeeper to have an emergency kit? Our bookkeeping services are professional, accurate, and help you avoid financial disaster. Feel free to contact us to learn more on how B&J can help with your small business’s needs.