Time for an organised business!
We all know that in the day to day running of a business, getting the time to organise and keep on top of your accounts is very hard to find and if you are not careful, the reigns loosen and you find yourself in a mess. Once this happens, it can be a hard road to get back on track and can also turn in to a painful (and costly) journey!
As healthy accounts are one of the most important factors of a healthy business, here are a few EASY steps to follow!
- Receipts are essential documents to keep but are always in the way. They fill your purse or wallet up and get lost in your bag, chucked in the bin or stuffed in the car door. Whatever way, they are a pain! A top tip is to get a plastic wallet or box – keep it in your car or office and every time you get a work related receipt, pop it in there. EASY - now they are all in one place!
- Invoices are a daily occurrence and, as your business grows, you’ll create more invoices and receive more invoices, so it essential to have a system in place. Have an in-tray for incoming invoices and one for outgoing invoices. When an invoice comes in, pop it in the tray. When you have created and sent an invoice, pop it in the other. Then at the end of the month you have all your invoices ready to go onto the system. EASY - now all you need to do is file them!
- Filing. Sounds simple right? It is when you have a little to do. However, if you have months of invoices all on the system and ready to file, you could be there a while! Keep it simple. Use dividers, split your folder into months (according to your financial year), then put your invoices in date and month order. EASY - now you can find any old invoices you may need, as well as making it quicker to file
- Struggle to remember what has been done and needs to be done? A tick-list is a great idea. It allows you to keep things in order and ensures that all your bookkeeping duties get done in that month. EASY!
- Hire a ‘bookkeeper’. If you are finding it hard to keep on top of your accounts, while you are running your business then it may be time to outsource the job to someone else. EASY - very cost effective and secure in the knowledge that your books will be kept up-to-date by a professional!
It is really essential that as a small business you take care of your books and the general organisation and running of the business. This will save you time and make your business more efficient.