Our Top 5 Booking Tips for Businesses to Kickstart Your 2022
If you want to keep your business finances in order and carry out good management, you must be diligent about keeping on top of your company’s finances.
By doing so, you can know the income and expenses produced by your business activity, calculate the amount of taxes to be paid and keep a record of the economic operations of your business.
To maintain good bookkeeping, it is necessary to keep in mind these tips:
Keep business, and personal finances separate: use different bank accounts for personal and business transactions. Otherwise, your bookkeeping will be disorganised, time-consuming and more expensive than having them separate.
Record all your business expenses: your business expenses should always appear in your business bank account, but you should record even those not paid via the business bank account (e.g. cash expenses). There are some great mobile apps, like Expensify, that allow you to easily keep a record of your business expenses.
Carry out regular financial checkups: Go over your books weekly, set aside one day per week to organise your unpaid bills or invoices. If you don’t have the time or know-how, consider outsourcing your bookkeeping activities to trustworthy partners, like The Good Bookie!
Stay in control of tax deadlines: As a business owner, it can be easy to miss a deadline when you have a million other things to do. To avoid that, try setting reminders to your calendar and plan when you will pay your tax bills.
Keep an eye on accounts receivable: Pay attention to when your receivables are due. Highlight your payment terms, email invoices, review accounts receivable often and highlight payment terms.
If your business is not able to implement these tips, or you simply lack the time or knowledge, we’re here to help! The Good Bookie offers trustworthy bookkeeping services for small-to-medium-sized business owners, providing them with quality service and peace of mind. Let us handle your books, while you handle your business.