Learning how to manage your books can be daunting when you’re just starting a new business and navigating the world of self-employment. In time you might choose to hire an accountant, but here’s an overview of what bookkeeping is, and our tips for getting it right. Full article with thanks to: simplybusiness.co.uk/knowledge/articles/2021/09/guide-to-bookkeeping-small-businesses What is bookkeeping? Bookkeeping is an important part of business finance but is often one of the most challenging parts of running your own business. You probably didn’t choose to go self-employed because you enjoy looking at spreadsheets and recording your expenses. You’re happiest when you’re out there doing what you do best, whether that’s running your craft business, selling clothes online, or providing a first-rate service to your customers. What is a bookkeeper – and what do they do? Bookkeepers are required to keep an accurate record of business costs and expenses. Not only does this help with understanding the profitability of …
The 9 Advantages For Outsourcing Your Bookkeeping Services
Full article with thanks to: growfactor.com/blog/why-outsource-your-bookkeeping Let’s face it, you started your business because you have a passion and a dream. You didn’t start your own business because you love spending hours each week filing receipts and allocating expenditures. Likely, when you think of your dream it doesn’t include entering transactions into a spreadsheet every Sunday evening. However, bookkeeping is necessary because there is great value in keeping your books up-to-date. 96% of UK businesses fail because they don’t have visibility of their numbers. Bookkeeping is key in providing you much-needed visibility. Now whilst online accounting software, such as Xero and QuickBooks, can generate profitability reports at the touch of a button, thus removing the need for spreadsheets in your life, this is only worthwhile if the figures are accurate and correct. As a small business owner, it is vital that you are able to monitor the performance of your business. …