Simplify your bookkeeping with these three tips
Particularly for small businesses, bookkeeping can get complicated. Here are a few ways that you can simplify your books so that you don’t have to worry about doubling up, losing information or confusing yourself in any way.
Maintain daily records: Updating your books every day may seem time consuming but in the long run it will be far quicker than recording a year’s worth of information in one hit and you will be far less likely to overlook something.
Keep the categories to a minimum: Putting everything into its own category may sound like a great way of keeping everything in order but it can also get very confusing very quickly. Keep it simple. Group all of the stationary together, do not keep your pens separate from your printing paper.
Adopt a cloud solution: Cloud services such as MYOB and XERO are the fastest way to keep your books up to date and easy to read. This will also reduce your paperwork and make it easier for you to update your books when on the go.
Hire a bookkeeper: The easiest way to keep on top of your bookkeeping is by paying a professional to do it for you. This way, you know it is being done properly and to a high standard and your time will be freed up for things you would rather be doing.
If you would like some guidance on the best way to maintain your own books or are looking for a bookkeeper yourself, feel free to book a consultation with one of our friendly business advisers or bookkeepers to discuss your options.