How hard is it to keep control of your books? You probably think it is as easy as 1-2-3, but it is not as easy as you may initially believe – and many small companies make these kinds of bookkeeping mistakes many times in their process.
What are some of the biggest mishaps that you can make in regards to your bookkeeping?
Those Little Receipts
All those small receipts add up soon enough and they document all the tiny deductions you can claim on. Many smaller business owners fail to see how these small amounts play an important part and simply throw them out, but it is worth keeping hold of them all by simply throwing them into a box or drawer for benefit later.
Just like receipts, keeping track of all of your expenses, no matter how small, plays a much larger role for your business. Many business owners will fail to request a receipt if not presented with one from a store or service, and this will be money documentation that is lost when it could benefit.
Computer and Cloud
Many small business owners make bookkeeping mistakes by not backing up their computer data, making it very easy to lose all your business records. If your electronic systems break down, you could be left in a precarious position for your business.
Also, whilst the cloud has revolutionised the way we store data if that was to go down how will you protect your data from being lost? Keeping printed hard copies of your records keeps your information safe and accessible no matter what could happen technically.
Handling Your Bookkeeping
Believing that bookkeeping is a straightforward, easy and stressless exercise is a fairly easy trap to fall into.
Proper bookkeeping is a task that takes a cool head, time and a level of dedication to do them accurately. Doing it yourself without the skills of professional bookkeeping services is going to present a fair level of risk that can result in a great deal of time taken and potentially doing it inaccurately.
Bookkeeping services in Manchester utilise a lot of tools, experience and software to accurately deliver your records in perfect sync with your business operations. Handing over this area fully to an experienced professional ensures you are getting it done the right first time, giving you more time to focus on business growth that is reinforced by perfect bookkeeping and financial reports.
Contact the team at Pebbles Bookkeeping today.