Bookkeeping and why to do it regularly
Whilst the words bookkeeping, spreadsheets and accountancy software can fill you with dread and the thought of inputting all that data and ensuring that it all adds up can be overwhelming, a little planning can make the whole process much more manageable.
By allocating your bank transactions on a regular basis you can save yourself a huge headache at the end of the year. Not only will it seem less daunting, but it can also provide you with many other benefits:
- It delivers an accurate picture of how your business is doing.
- By completing it whilst transactions are fresh in your mind, it can provide up to date profit reports.
- It lessens the delay of completing tax returns and year end accounts.
- Little and often is key. It will take much longer to complete if it is only done every 6 months or worse, once a year.
- What takes longer, costs more!
If you are struggling with sticking to a regular bookkeeping routine, ask your accountant, they will be very happy to help.
Alternatively if you are looking for a new accountant we would be delighted to offer our support. Please call us on 01173 700 079 or e-mail hello@steppingstonesaccountancy.co.uk. You can also book a free 30 minute call with Yarka – https://calendly.com/yarka-ssa/30min