Do you need help with the bookkeeping for your small business in Somerset, UK?
Bookkeeping is the recording, on a day-to-day basis, of the financial transactions and information relating to a business.
Bookkeeping builds the foundations on which your accounts are built, so accuracy is vital to ensure your accounts are strong.
What is Bookkeeping and why is it so important for business owners?
Bookkeeping is the art of recording your financial information so that it’s easy to see what money is coming in and what you’re spending.
In order for your business to be successful, you need to be balancing the books every single month, otherwise, you might struggle with paying for things like stock, suppliers and even your taxes.
It’s a good habit you really want to be getting into from the very beginning of running your own business.
Bookkeeping helps you budget for your business, prepare for tax returns, keep your business organised and so much more. It’s something you shouldn’t avoid if you want to keep your finances in check and to make sure HMRC doesn’t come and cause you even more problems.
Here are six reasons why bookkeeping is important for your business.
Helps You Budget Accurately
Keeps You Prepared for Tax
Maintains Organised Records
Easier to See Business Targets
Meeting Government Regulations
Gives You Extra Peace of Mind
Top 5 Tips for your Small Business Bookkeeping
Why you should Automate your business bookkeeping where possible.
AutoEntry automates data entry by accurately capturing all of your invoices, receipts, expenses and statements into your accounting solution.
Perfect for small and medium businesses.
No more manual data entry of invoices, receipts, bills or statements.
Simply email, scan and upload, or snap with AutoEntry mobile apps.
Get copies of original documents and key data into Xero automatically without manual data entry using Hubdoc.
It takes the time and drudgery out of data automation, replacing it with a cloud-based, accurate and far faster alternative.
Take photos, use email, scan or upload documents.
Add key information to your cloud software without data entry.
Seamlessly reconcile data with bank feeds.
Search and access bills and receipts from anywhere.
Do some each day and keep on top of the paperwork, make it a habit
Use Cloud Accounting
It will help with Making Tax Digital compliance
Keep personal and business finance separate
Keep employee timesheets up to date
Outsource to a specialist and focus on growing ypur business
Mark Howard - ACA
Director - Skymark Financial Ltd
Why Skymark Financial for the Bookkeeping requirements for your Startup or Small Business?
As Skymark Financial, I am bringing years of experience managing the finances departments of Small and Medium Sized Businesses, both in the UK and overseas.
Much of my 40 years experience has come from working with small to medium-size businesses and I have a comprehensive understanding of what is required to manage the finances, with effective and efficient processes and reporting, alongside innovative thinking and targeted business intelligence.
Bookkeeping builds the foundations on which your accounts are built, so accuracy is vital to ensure your accounts are strong. Sp keeping those records organised is essential, I will use the latest cloud technology to work with you and free up your time to focus on growing your business to its maximum potential.
Why don't you book your Free 15 minute Fact-Finder call to find out more about how you can have an outsourced, fully qualified, financial controller with years of experience of addressing the pain points felt by small and medium sized businesses, and take advantage of the great fixed price packages on offer.
Packages starting from £99+VAT
WHAT PEOPLE SAY
“Mark has made great steps in integrating financial advice and business intelligence into all areas of the business”
— Sales Manager, Harper Collins