When you are a small business owner, small business bookkeeping tasks require completion if you choose to do it alone and handle it yourself.
Sometimes they are done daily, sometimes weekly and other times on a quarterly or annual basis, and they can all get your head in a tizzy when they all need sorting out. Whilst many choose to utilise bookkeeping services to keep things on track and organised, many choose the trial and error route in getting into the routine of completing bookkeeping regularly.
The Sole Approach
Whilst the thought of rushing your annual accounts towards their due date is time-consuming and stressful, getting a routine set aside is important to keep on top of all sales and purchase invoices. Many people choose to keep a diary or online calendar to keep their focus on the deadlines that are due, from chasing customers to vat return dates and when reports are needed to be generated.
The work of bookkeeping services in Manchester is one of dedication to this specific area, which can get complicated very fast if you don’t know the how, why and when it all needs to be done.
Regular Activities for Bookkeeping
To differentiate the volume of small business bookkeeping requirements and the amount of time you need to do it properly, there are some areas you need to focus on chiefly.
You need to check your bank account to know how much cash as a business owner is there, helping to budget and know when payments can be made as well as uncovering what payments have and have not been made by customers. You will also have to reconcile your bank account regularly to ensure all transactions are posted correctly, which includes reconciling savings and credit cards.
Sales invoices will need to be prepared and sent following every job’s end to ensure a customer pays on time and recording every customer receipt against the sales invoice in the accounting records.
All of this is even before paying suppliers, keeping records on petty cash spends, company payroll, cashflow review and monthly reports being produced. Already many small business owners would feel overwhelmed just by reading this shortlist of tasks.
This is when many business owners suddenly realise they may be out of their depth with this specific area and begin to see a dark cloud over the financial year-end and all of the work that is going to take precedence over the daily running of the business.
This is where bookkeeping services in Manchester come in, and contact with the team at Pebbles becomes the best move in keeping you on the right path. Contact us today for all bookkeeping services for your business.