As a business owner, one of the greatest gifts you can give yourself is the gift of time. It’s well known that in business, you can always make more money, but you can’t always make more time.
By streamlining your daily tasks, you can take back some of those precious hours of your day and have more time to do the things we enjoy. It all comes down to how you’re able to get that time back. One large bottleneck in workflow efficiency for dance studios is the process of billing customers.
If you don’t have the right system in place, billing can become a massive backlog of paperwork and annoyance. With that in mind, here’s how to streamline your studio billing system in your dance business and get back a few hours of your life.
Take Advantage of Technology
Using a product like The Studio Director allows you to take all the heavy lifting out of billing. The software keeps track of who is enrolled in each of your classes, which students have paid in advance, who gets a discount, how many classes they have paid for, etc. These details can add hours to your invoicing process if you don’t have a handle on them from the start. Using studio management software allows you to keep all those various details in one place, and makes your billing process virtually seamless.
Don’t Worry About the Details
You likely already know the details you want to keep track of including things like
- Class capacity
- Cost per class
- Students enrolled and the fees they will each pay for their desired classes
- Student details such as name, email, phone, and even credit card information
- Dates that payments are due
Rather than having to look up those details constantly, studio management software gives you the ability to simply plug in these details and go. From there you can:
- Send invoices directly to your students with all relevant information
- Allow students to pay online with secure credit card or echeck processing
- Let your students see their progress in their classes, what classes are coming up, and so much more.
Handle Your Employees and Inventory
Not only can you streamline your billing for students, you can also better manage your employees and studio inventory as well. For example, The Studio Director keeps track of instructor timesheets, making paying your staff a breeze. You also will be able to manage your inventory including things like studio equipment and office supplies. Never again will you have to manually go through your studio and count the equipment. You can automatically track everything, saving time on accounts receivable and payable. It just makes good business sense.
Software Doesn’t Call in Sick
Let's face it: if you have a full time accountant and/or office manager handling your billing, you could end up paying a lot more per hour for the same things software can do faster and with better accuracy. Which would you prefer? Running things quickly and easily with a few clicks and full support, or risking being at the mercy of a part-time/full-time employee that costs significantly more and may or may not produce the same results?
Make Taxes Simpler
Business owners know that come tax season, it is critical to have all invoices and bills easily accessible and well organized. However, filing lots of paperwork can add a significant amount of time to your billing system, and can take more time if anything in those files ever needs to be revisited.
With The Studio Director the paper filing is done away with, and replaced by a cloud-based system that is searchable from anywhere with an internet connection. You can find email and text message history, as well as details on all clients, bills paid/due, and more with a simple search. Doing away with the need of hunting through lots of paper to find something such as payment history, gives you the time to get back to running the studio instead of letting it run you.
A Much Smoother Process
Bottom line – having the right software is the answer to how to streamline your studio billing system. Everything you need to run your business is in one place. Enter the information once, and the studio management software handles the rest. Sure, you may need to spend a little bit of time occasionally updating a detail here, or a class date there, but you will save hundreds of man hours by letting technology do the bulk of the work for you.