How Long Is Too Long In Organising Your Financials?

Small to medium business owners blow off their bookkeeping for another day for reasons of not knowing where to start with it all. Thinking about what it is, how often they need to do it, what they should be doing with it and everything else can add a ton of pressure. That pressure results in putting it away until you can ‘get to it.’

The Role of Bookkeeping

Bookkeeping services are the process of recording your business finances to keep things running smoothly from a financial standpoint.

One thing to take note of here is that bookkeeping is not the entire business financial system, and it is something people can get confused over very easily. Not every single financial task in your business is bookkeeping. It is about the keeping of records.

It is not just about tracking your income and expenses for your tax purposes – it also encompasses accounts payable and accounts receivable.

Record Keeping

We track income and expenses for taxes and our information about the business. When we file our taxes we are disclosing financial information to the government, but we also use business finances to make strategic decisions around money.

Doing your bookkeeping is not just tracking for taxes, it is also tracking so you can look at your finances and use the results to make good business decisions.

Accounts Payable

Accounts Payable is keeping track of money that you owe to other people. Depending on your business model and type, accounts payable can be something as simple as paying a virtual assistant each month or it could be more complex with multiple contractors and employees that need to be paid throughout each month.

You need to think heavily about your accounts payable system in your bookkeeping structure if you have a retail store or are in any situation where you are buying things from people with terms. This is what helps to keep track of when your bills are due so you can make sure your business cash flow is healthy.

Accounts Receivable

Accounts receivable is what your customers or clients owe to your company. The most common area of accounts receivable is your invoicing system – but it can be anything to do with how you get paid for products or services.

There are two main points in the accounts receivable process. The first is the billing part where you tell your clients/customers what they owe you, and then the part where you receive payments or follow-ups to chase payments.

A lot of business owners wonder why their billing system is in a mess, why they are always behind on their bills and why invoices are never paid. Most of the time it is because their bookkeeping is in disarray. This is why small business bookkeeping solutions are required.

Contact the team at Pebbles Bookkeeping today to catch up with your bookkeeping and organising your financials the way they need to be to grow your business.

Don't just take our word for it...

Steve Price, BWP Inspire

“We have now been working alongside you with various clients. In some cases, we have introduced you to our clients and in other cases you have worked as part of our team. Every time we have brought you in you have done a great job. We now see you as an extended part of our team. You have proved to be professional, flexible and above all competent in getting the work done. We would not have any hesitation in recommending you again, and we look forward to working with you more in the future.”

Lisa Heggie, The Gunnery

A massive thank you to Diane at Pebbles Bookkeeping & HR. You took the huge stress away from where do I start, with employee policies etc. You have created us a great, informative employee handbook, covering all necessary policies and risk assessments in a matter of no time and from the other side of the world too. I will definitely be in touch for any future help our company needs.

Mark Gray, Taylor Made Finance Ltd

“Pebbles Bookkeeping have been doing our bookkeeping for the past 2 years. Our Accountant recommended them to us and they are very professional, approachable and knowledgeble in the work they do. We send them our paperwork electronically and manually and they process it all efficiently in a timely manner.

I would not hesitate to recommend Sean and the team at Pebbles Bookkeeping – they do a fantastic job.”
Anne-Marie Armstrong, Amberry Marketing

I just wanted to thank you both for the help you’ve given me thus far in setting up my new cloud-based bookkeeping system ‘Clearbooks’.

Having used Microsoft Excel for more years than I care to admit, I had more than a few reservations when considering changing the way I managed my books, yet understood that I had to make the change sooner or later.

After an intense training session with Sean, (where I probably asked 101 questions), my fears quickly dissipated and I can honestly say that although it’s likely to take me a little while to really get to grips with the new interface, I’ve no doubt that this simple system will save me so much time and hassle in future.

And less time spent doing my books, almost certainly means more time with the family and an end to rushing around like a mad woman at quarter-end!

Thanks again and I’m looking forward to working with you again soon.

Steve Tanswell, Manchester Facades

I changed book-keepers around a year ago because of a disagreement.  I employed Diane of Pebbles and having been with the same firm for 10 years, I was amazed by how easy working with Diane was.  Not only did the change save me money but also saved me time.  Utilising new technologies (to me) have massively improved the amount of money I can claim back in VAT and has made the whole process speedier and well as easier.  Even when Diane is chasing me for information she does in a friendly professional manner.  I’m thrilled to be working with her and would recommend her to anyone.