KEEP UP TO DATE
Has your small business taken off? Do you have more work and more customers than you know what to do with? Lucky you…
Unfortunately, running a successful business can sometimes be a double-edged sword. It’s easy to overlook the bookkeeping basics while you’re caught up in the excitement of getting the sales and delivering the goods or services on time, but not keeping your books up to date can have dire consequences in the long term.
Not only do you run the risk of forgetting to invoice a customer or neglecting to spend time chasing up payments, but you may also end up paying unnecessary bank fees for overdrawn accounts or fines from the ATO.
No matter how busy you are, it’s imperative to take time out regularly to think about how you could manage your finances more efficiently.
Decide which tasks you can outsource and which you’d prefer to complete yourself. Make a point of blocking out some time in your diary on a regular basis – daily or weekly – to work on the jobs you’ve chosen to keep in house.
You won’t believe the difference a few minutes each day can make when it comes to maintaining accurate bookkeeping records, and how much more relaxed you’ll feel knowing you have the financial information you need at your fingertips.
Click here to learn more about outsourcing some of the repetitive but necessary compliance tasks that are currently preventing you from spending more time doing what you love.