5 Essential Bookkeeping Tips

Part 1              

1. Keep private money separate from the business; establish a petty cash system for small / ad-hoc purchases

2. Credit control – monitor debtors and keep on top of them3. Put some money aside each month to help pay VAT and tax liabilities4. Understand your clients business, needs and implement systems accordingly.5. Use a professional allowing you to focus your time on running the business and which should

also help to reduce your yearend accountancy fees

Part 2                                             

Keep up to date – update your records regularly to reduce the risk of losing information or forgetting things

Bank cash / cheques as soon as possible Ensure you get a receipt / invoice for everything you buy Keep files for different information; file sales invoices in numerical order and purchase

invoices in some sort of logical order Ensure all bank statements are maintained and kept on file

Gabriella Cole resides in Farnborough. She is currently engaged. She also writes about The Local Accounts Department Service Farnborough, The Online Local Bookkeeping in Farnborough Management Centre for Financial Farnborough. When she is not working or writing, she is watching baseball.

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