The Admin and Finance SOPs You Need

It’s easy to feel overwhelmed by the amount of SOPs you need to have for your business. The list can feel daunting.

But, it’s important to remember one thing- not all SOPs are created equal. Some SOPs take higher priority because they affect the bottom line and the growth of your business in a way that others don’t. If you haven’t done an SOP audit yet – now’s the time.

Think – what are the highest priority areas that have the most impact on the success of my business? And start there.

plants for the admin and finance sops you need

Here are the top 7 areas you need SOPs for:

  1. Admin
  2. Finances
  3. Team Management
  4. Communications
  5. Marketing
  6. Sales
  7. Delivery Systems

In this blog post – we are diving into the Administrative and Finance SOPs. Part 2 will cover Team Management and Communications. Part 3 will cover SOPs for Marketing, Sales and Delivery Systems. So, stay tuned for more SOP goodness coming your way.


Administrative SOPs

This group of Standard Operating Procedures will become your go-to for info about the administrative parts of your business. Which means, no more slack messages from your team asking for login info. #winwin

Admin SOPs fall into 3 categories: Company Information, Backup Procedures and Passwords and Tools.

Company information includes documenting things like:

  • company name and address
  • web domains
  • legal information
  • insurance
  • vision, mission and values
  • business plan

Backup procedures include areas like:

  • computer backups
  • business file backups
  • website and CRM backups
  • website maintenance and security

Password & Tools include documentation of:

  • general passwords
  • website and blog
  • email addresses
  • lists of all tools and platforms
  • list of all email addresses

Something to keep in mind -admin documentation will need to be frequently updated – change a password, update the doc.


leaf background with admin and finance sops you need

Finance SOPs

This list of Standard Operating Procedures is pretty extensive. Since we know money plays such an essential role in our business, it’s important to create documentation in this area.

Finance SOPs fall into 5 categories: Money Coming In, Money Going Out, Money Management, Metrics, Taxes and Financial Planning.

Money coming in includes:

  • best practices to collect online payments
  • how to track payments
  • accepted methods of payments
  • accounts receivable [weekly tracking]
  • handling overdue payments and declines

Money going out includes:

  • accounts payable
  • payroll
  • methods of payment

Money management SOPs include:

  • cashflow
  • financial statements
  • bookkeeping

Metrics include:

  • a checklist of the metrics that need to be tracked and reviewed [daily, weekly, monthly, quarterly and annually]
  • description of how and where metrics are tracked
  • metrics tracking template
  • description of how and where established KPIs are tracked

Taxes and Financial planning should include:

  • year end statements
  • tax planning

Documenting these areas will create a new level of organization in your business. And as a result, will increase consistent output to brand standards, reduce errors and give you and your team the ability to move forward with confidence.

SOPs are really powerful docs for you and your business.

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Need help with an SOP audit or creating SOPs for your team [or teaching your team how to do it?] – let’s connect.

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