FINANCE
The Business Bulletin
Five crucial bookkeeping tips for a small business owner The one thing that small business owners hate doing is bookkeeping and accounting. However, the one thing you need to get right to ensure your business succeeds… is bookkeeping and accounting.
The problem is, unless you’re a
each time it’s completed; ask your
or numerically hyper-organised,
1: Don’t let yourself slip into bad habits
accountancy is a feature of running a
It’s easy to put off what you don’t feel
you the nod. Basically, do whatever
business that can trip you up.
inclined to do but, with bookkeeping,
it takes to make sure this weekly
a stitch in time really can save nine. So
vigil happens. Because if you don’t, it
to ensure your business doesn’t suffer
be disciplined. Allocate time in your
quickly becomes a massive task that
because of your lack of talent – a.k.a
diary to doing your books every week
can eat up more than just a weekend…
interest – in this area? Take note of
and block it off as a slot that can’t be
Not to mention that HMRC could end
these top 5 tips.
reassigned. Promise yourself a treat
up breathing down your neck too.
whizz at figures, naturally into detail,
So, what should you watch out for
6 | Issue 19
spouse to nag you until it’s done; don’t pay yourself until your cashflow gives
