Good bookkeeping is a foundation for small business success

Tue, 03/19/2019 - 17:32 | admin@therealb…

notebook with pen and scrunched up paper

Recently we have been running training for childcare organisations in Berkshire. One question that has come up has been about frustrations caused and time wasted when bookkeeping is not done well. For instance Payroll calculations and impact on staff pay and discrepancies. Another example was where a manager was still dealing with issues and frustrations relating to old payslips and inaccuracies from bookkeeping after a staff member left.

We also know many businesses where the business owner or a family member is doing their own bookkeeping. It is not really what they want to spend their time on! They are not sure if they are doing the right things! It is just plain STRESSFUL!!

From our experience here are some top tips for what makes an ideal bookkeeper

  • Up to date knowledge in finance – changes in the laws etc
  • Attention to detail and accuracy
  • Reliable and consistent
  • Knowing your business and its needs and commitment to supporting this
  • Experience in specified areas eg that relate to the businesses sector
  • Good organisational skills including in using IT really efficiently
  • Good at problem solving and helping with thinking through issues
  • Approachable
  • Efficient time management that gets the finance information to you

Things are always changing in the finance industry

Changes can have so many impacts. Some changes are good to know because they can improve your cashflow or profit lines. Other things are essentials to know because laws have changed that need compliance. Things like:

  • Making Tax Digital – make sure your bookkeeper is getting you ready for changes that will have an impact.
  • Software and systems that can help your business be more efficient and be less hassle day in day out.

Record keeping Software – the options – helping you choose what is right for your business.

There will be a blog next month on software options and how using phone apps can make a difference

How can good bookkeepers help you and your business?

Protect you from finance risks by

  • Making sure you and your business is up to date with recent changes to HMRC/ Laws and Regulations
  • Updating you with a reliable overview of your business finances and cashflow
  • Help you see when things are going wrong and how to get back on track

Help your decision making and planning:

  • Give information for business decisions and growth for now and tomorrow

Make being in business more satisfying and enjoyable!

  • Efficient in your accounting needs so you have more time to run your business, stress-free?

 

FIRST STOP – Finance training for business owners and bookkeepers

The Real Business Club finance training will help! Here are some options

Feedback from business owners

  • “It helped me to understand everything from start to finish”
  • “The timelines on tax and planning were so helpful.”
  • “Learned a lot about National Insurance that I didn’t know”

Feedback from bookkeepers who attend training

  • “I can go back to my business knowing I am doing the right things.”
  • “Love the training – the discussions are so helpful.”

How about you and your bookkeeping?

If you are not sure whether your bookkeeper is doing the right things, if you have any doubt, then why not talk to us about either our training for bookkeepers or our bookkeeping services.

Contact Dawn Edwards on 07896 665104. Dawn trains bookkeepers and Accountants.

Finance training for bookkeepers

If you are not sure your bookkeeper is up to date why not invest in this – and be confident and sure?

Finance training for Business Owners

If you want to build your business and reduce your stress levels then sign up for our Finance for Business Owners waiting list!  The workshops will cover a whole range of every day finance topics.   Email admin@therealbusinessclub.co.uk to join the waiting list.

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