It’s Love Month and, with Valentine’s Day around the corner, at Accounts All Sorted we’re celebrating all the business owners who do their own bookkeeping – whether you love it or not!
We secretly hope you love doing your books, however, if you are a business owner using Xero, or another accounting software program, and you love your work but don’t love doing your books, we’ve got 5 ways for you to love it a little more this month.
5 ways to love your business bookkeeping more
Many business owners undertake their own business bookkeeping for various reasons, for example, to save money, because they are a startup without a budget, to keep a closer eye on their finances, or just to learn the skills.
That’s not to say every business owner who does their own bookkeeping loves doing it – in fact, it can be time consuming, confusing and frustrating.
These 5 tips will help make your business bookkeeping easier (so you enjoy it more).
1. Fall in love with … Being organised
1. Fall in love with … Being organisedGood bookkeeping is about being organised (for the most part!). And that equates to keeping records, filing receipts, sending invoices on time, getting paid on time, paying suppliers on time, having a good bookkeeping routine, using automations as much as possible, using cloud software and knowing when it’s time to get help from a professional. If you keep your business bookkeeping organised it won’t feel so overwhelming.
2. Fall in love with … Your accounting software
One of the best things you can do as a business owner who does their own books is to get set up properly with cloud-based accounting software. Cloud-based business accounting software is like having a bookkeeper in your back pocket. With it you can transfer transactions automatically from bank accounts, set up rules to reconcile, prepare invoices and send reminders to pay, making your business bookkeeping less time consuming.
You won’t know yourself once you are using a cloud-based program because it makes for easier business automation, organisation and delegation.
3. Fall in love with … Automating everything!
Now when we say “everything” we mean as much as you possibly can! When you get set up automatically in your accounting software, like Xero, your bookkeeping becomes a lot easier.
But there are other things you can do to automate the process too. Having an app like Dext where you photograph your receipts and automatically upload them into your accounting platform will save you so much time. There are other automations too, such as invoices and email reminders to
clients.
4. Fall in love with … Easier business
4. Fall in love with … Easier businessWhen you have up to date books and you know your numbers, your business will run more efficiently and everything will just be easier. Important decisions you need to make can be based on real-time data and business insights, rather than guessing.
You will be more informed of how your business is actually doing so you can set goals and achieve them with more ease. And you can avoid costly financial mistakes and errors.
5. Fall in love with … A bookkeeping routine
We know bookkeeping can be time-consuming and if you need help, we are here for you. However, one final thing that can make doing your own business bookkeeping easier is a weekly bookkeeping routine.
An easy way to do this is to set aside some time in your schedule for daily and weekly tasks. This time can be used to upload receipts into Dext, send invoices, follow up on invoices to be paid, reconcile transactions and check your reports. A regular routine will make your bookkeeping more manageable come BAS and tax time.
Make your business bookkeeping easier
If you’re not feeling the love for your business bookkeeping, Accounts All Sorted Bookkeeping offers a complimentary review of your accounting files so you can better understand your current situation and software.
The Business Health Check will determine what you need to do and implement to ensure you get your business bookkeeping back on track for future growth.
For more information or to book your Business Health Check, please get in touch with the team at Accounts All Sorted today.
For any enquiries, contact us today!
Talk To Us Today