Top 10 bookkeeping Tips

Posted on Dec 3, 2013 | 0 comments

When you keep your financial records organised through the year you will be able to keep your business focused. Additionally you will be able to assist your accountant when it comes time for the financial year end. Below are some valuable tips to keep your business running efficiently.

1.Go Paperless

You could end up spending a lot of wasted money on paper every year if you are still mailing and printing your invoices. Postage, paper and envelopes can become an added expense over time.

2.Find a Reputable Adviser

Ask for help when it comes to running your business in the best way possible.

3.Make use of Technology

You can reduce the likelihood of errors created by humans by using a software program for accounting.

4.Double Check your Records

If you are not using a accounting program that is automated . You will always need to go over all your financial records twice.

5.Use Time Clocks for your Employees

Accurate time keeping can ensure you are not over paying your employees.

6.Keep Records

Ensure your records are in impeccable order.

7.Review your Monthly Charges

Ensure that you constantly review your current charges, you can always change a service provider if they are charging lower rates.

8.Keep your Finances separate

Never mingle or mix up your professional and personal finances. If you require additional funds for yourself write a check or you could even withdraw cash.

9.Purchase accounting Software

Your best option in ensuring that your books always balance is to invest in a good accounting software program.

10.Hire a Professional

Use a professional to deal with your accounting and tax needs if you are unsure of how the process works.

Your business can benefit in a great way when your financial affairs are all in order at the end of the financial year.

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