business expenditure

Bookkeeping Tips for Christmas

We are just a week away from Christmas. Businesses everywhere are expecting that slack period whilst employees and clients take the time to celebrate the festive season. It also means that revenue will dip somewhat, and may not pick up again until January, when the New Year celebrations stop. With staff celebrations, your in-house business expenditure is likely to go up, and it becomes time when many small businesses lose out from not planning out their finances.

If you are a small business owner and feel like you need help, Pebbles Bookkeeping Services in Manchester has some helpful tips so that it won’t be a blue business Christmas.

Know the Flow

Do you have it figured out on what is coming in and what is going out from your business? Have you designated a place for your business receipts to go to so that they are safe?

Ideally, you will have a designated online folder where your receipts can be stored rather than distributed into random places such as emails, desktop folders, and cloud drives. If you are running Xero, you can photograph your expenses and send them straight to your XERO account. Understanding your cash flow is more than simply keeping track of your office bills – it involves knowing precisely what products and services you have sold to your customers.

Track Those Expenses

It is natural for a small business to have unexpected expenses, but the more you try to forecast your business expenditure each quarter, the better you stand.

One way to do this is by keeping accurate records of all expenses – supplies, payroll, insurance, rent, utilities, etc. – and budgeting for an emergency fund that can be accessed whenever unexpected bills surface.

Get Onto Those Late Payments 

Sometimes you have to resort to a friendly nudge for certain customers who are behind with settling their bills. Don’t be shy about following up on late payments, especially if they have a habit of not paying when prompted.

If you use XERO, leverage its built-in reminder system and ensure customers realise they are falling behind. If you have to, add a late payment fee for delays beyond a specific date. Also, be sure to pay off your creditors promptly – or inform them if you struggle to make payment on time.

Get Help If Needed 

If you are struggling to manage your ins and outs when it comes to your business bookkeeping, you can consider outsourcing this area to bookkeeping services. At Pebbles Bookkeeping Services in Manchester, our certified team works to save you time and money and advises on making the most of tax returns for your business.

Contact us today to handle your bookkeeping tasks and enable yourself to enjoy the holidays.

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

Sarah Rekia, Site Welfare

“In bringing Pebbles onboard, it has made me wonder why we decided to try and do our own bookkeeping at all. Pebbles came in and sorted 18 months worth of mess we had unwittingly created, and we cannot be more grateful. I wish I had been told about them years ago and I hope every business out there struggling would give them a call to fully see the benefits they are missing out on.”

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.”
TecCre8 Ltd

“We began to relinquish our bookkeeping tasks to Pebbles Bookkeeping in September 2020, following our meeting with Diane Huxley to discuss our requirements. We signed up with Diane immediately. We have all built a quick rapport with Diane and it’s good to know that we have her support and expertise at the other end of the phone.

Pebbles Bookkeeping is a perfect fit for our company and liaises seamlessly with our accountant. It is our pleasure to work alongside them.”

Wayne Dinning, Managing Director, SD Waste Paper Limited

Diane has been providing her services to my company for approximately 6 months now and I can honestly say that due to her assistance, my company is running a lot more smoothly than it has at any time over the previous 30 years that it has existed.

I would just like to say that I would recommend her services to any business, whatever the size, as I can only see that her services would be beneficial to any company that may choose to employ her services.

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.”