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  • Magna Carta Bookkeeping

Business Bookkeeping Tips

Updated: Sep 27, 2023




To ensure your business is running smooth in order to give accurate reports we have some tips below to follow:


Track your income


  • Digital Software helps to keep track of all unpaid sales invoices, makes credit control easier and its all in one place.


Expenses

  • By keeping an eye on all of your outgoings by importing invoices into software or uploading to digital software.

  • Being organised with all documents at all times helps not only you but gives a more accurate picture via the Profit and Loss Statement.


Using the right software

  • Digital record keeping is so much easier than a spreadsheet. Once all invoices are uploaded they are there on hand at all times to review back to.

  • Cashflow reports are on to enable you to assess cashflow for your business at all times.


Outsourcing

  • If the amount of work you are putting into your bookkeeping is taking over the amount of time you should be putting into your business then it's time to outsource.

  • Outsourcing to somebody who can take the stress away of financial reporting leaves you more time to focus on growing your business.





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