Are your Business Books in Order? No, not your reading books, but your business accounts! Bookkeeping and accounting isn’t something that everyone enjoys doing, but with the right systems in place it can be a lot easier. Here are some top tips from Mark and the team at Choice Bookkeeping.
- Have a separate bank account that is just for the business. You will need a business bank account if you are a Limited Company, but if you are a sole trader, you can use a personal account. It makes it much easier though if you only use the account for business purposes, and not for things like the grocery shopping, a night out etc.
- Keep your receipts. This is so important, otherwise you can’t claim for things you have spent. The best way to keep these together is not in an envelope or carrier bag, but electronically. Receiptbank is a great option, and integrates with your accounting software.
- You really need to track your mileage so you can claim this as a business expense. Rather than relying on what Google Maps is telling you, we strongly recommend you use an app. There is one included in our FREE app, which you download for Apple and Android phones.
- Still using Excel or another spreadsheet for your business accounts? Now is the time to upgrade to accounting software. There are so many reasons why that we have a blog all about it here [link to blog]. We also have an offer on at the moment that we will give any new clients 6 months of Quickbooks free!
Your bookkeeper will love you for being this organised. Not using a bookkeeper, or need some help with setting all this up? Give us a call and we can help!
Choice Bookkeeping Limited
Mark and the team at Choice Bookkeeping are on hand to help with all your bookkeeping needs. Whether you are a sole trader, or a limited company Choice Bookkeeping can help! Don’t let your book-keeping pile up month on month – speak to the team about a bookkeeping package that will work for you. The app and a suitable package will help you manage your business finances to ensure you aren’t left with a mass of paperwork at the end of the month or year, and will help ensure your accounts are always fully up to date.
As an affordable alternative to an expensive accountant, speak to Choice Bookkeeping for a free consultation to see how they can assist you and your business save time and money. With offices in Monmouthshire and Pembrokeshire, they cover all of South and West Wales and surrounding areas.