When you mention the word “admin” to a business owner, a rush of dread may appear across their face. It may be the type of job that you enjoy doing, but it isn’t always the most enjoyable way to spend your time whilst you’re trying to spin hundreds of plates all at the same time. Nevertheless, there are certain admin tasks that are vital for the growth and success of your business, so they should never be overlooked or ignored. Whether you’re buying an existing business, or you’re running your own company, here are five notable admin tasks you should start familiarizing yourself with right away.
- Accounting
Staying on top of your finances, filing your accounts, doing your company tax return and keeping track of expenses is an extremely important admin task that should be high on your priority list. This will not only help you to stay across the financial health of your business, but it will also help you to forecast for the future.
- BOI Reporting
If you aren’t in the loop about BOI reporting, this is your sign to spend a little time researching this important task. If you’re running a business that has an income of less than $5 million and you employ less than twenty full-time members of staff, you need to fill in a beneficial ownership information form as soon as possible. This is a legal requirement for registered companies in the U.S. which has recently been brought into place to prevent misuse of finances and money laundering. Make sure you submit your BOI report sooner rather than later to avoid potential fines and penalties.
- Record Keeping
Maintaining accurate records of your business activities helps you to stay across the operational side of your business. Keeping notes on processes and systems will not only help you to train up future members of staff, but it will also save you time in the long run when it comes to passing on your wisdom to new recruits.
- Information Technology
Making sure all of your information technology is set up in an administratively sound manner is highly important. Managing your data security, GDPR compliance and business email setups may seem like trivial tasks, but they’re fundamental parts of running a successful business.
- Website Management
Getting to grips with the basics of website management should be fairly simple, but it’s certainly an important admin task you won’t want to leave off your list. Making background tweaks to your blog, fixing broken links and improving the overall flow of your website will make a better customer experience overall and give your brand a better reputation too.
Some of the admin tasks mentioned above are one-off jobs that need to be done periodically throughout the year. Others are more regular and will need to stay at the top of your radar as much as possible. Whether you’re organizing your BOI report, or you’re staying on top of record keeping, there are a number of different tasks to keep your business in check. Not only will these important tasks help your company to thrive, but they’ll also completely transform the way you organize your week in terms of workload. Creating more space for these tasks will help you to stay across the structure of your business and ensure that everything that your company is involved with is above board.
