7 Bookkeeping Tips
Here are some quick tips to make your Bookkeeping more Simple
1. Get Organised!
Buy some files for the job. Folders, pens, a calculator, an in-tray - so that everything has a home.
2. Bookkeeping software
Before the days of the computer, we used to hand-write letters... so if you are still doing your books manually - it is worth investing in some accounts software. In the long run, it will make your life a lot easier.
3. Bookkeeping Training
This relates to the point above. You do need to have some idea about what you are doing. Reading 7 tips, is only the start, but the more you understand, and the more training you have, the more likely the end result will be accurate.
4. Start on the sales ledger
The key thing, is to make sure that you get paid on time. So, start with the debtors / customers / sales ledger. Ensure you have a folder with all sales invoices going out. Form the habit of invoicing promptly. And have a collections process. Collecting in your money will greatly help your business.
5. Do a Bank Reconciliaition
It is essential that you compare what you have in the bank, to what your records say you have in the bank. A reconciliation is a check - that you're getting it right. It will highlight errors, discrepancies, where you think you've been paid (but haven't). It is very important.
6. Monitor your performance
Bookkeeping isn't something that should just be done, for the sake of it. The information can give you some ideas on how well the business is doing. It is better than this time last year? worst? Are the figures better than the business plan? or as expected?
7. Get in a Boogle!
If you just can't face it, or just need a hand to get on track, then contact us, and we'll see if we can help.
Our Book explains Bookkeeping very simply, and is aptly named, 'Bookkeeping Made Simple'. It is available as an e-book for download for £1.99 from Lulu. You can browse through the first few pages of the book.