Is daily bookkeeping a necessity?

Is daily bookkeeping a necessity_

At PPF, we offer a whole range of services, creating an accountancy package that works just right for you.

For many of our clients, this includes our bookkeeping service. If you’re already using this, read on to remind yourself just how good it is (!), and if you’re not currently, peruse this article and think about if this is something that could work for your business!

What you may not know is that our bookkeeping service is daily. That means that every day – Monday to Friday – we are logging in to your Xero and keeping on top of things. This may sound a bit much … bookkeepers or accountants you’ve had in the past may have just asked for your info each month, quarter, or even year!

So why do we do it every day?  Is daily bookkeeping necessary?

Well, bookkeeping is more than just getting numbers for the tax man! Daily bookkeeping in Xero means that you have up to date info on who you owe, who owes you, how much you’ve got in the bank and much more. Much nicer to know what going on than to get any nasty surprises!

The bonus of having one of us people who are really interested in the numbers doing your bookkeeping is that we can also advise you on other bits and bobs, such as when you might be coming close to a VAT threshold, your CIS reports, and the amount of dividends you can take (that one is always worth knowing!).  And most importantly: you have the right information, when you need it, to make all of those important business decisions.

As much as we do our best, and as we get to know you and your business, we get to better understand the things going in and out of your accounts, when need be, we do send out weekly queries – anything that we’ve not quite been able to match up. So, if you don’t mind, so that we can do our job as best as possible for you, here are just a few little requests from us;

  • Whenever possible, please do upload copies of your receipts to Dext (Receipt Bank), and including the VAT breakdown if at all possible. Should HMRC ever come a-calling, the more paperwork we have the back up our figures the better!
  • We know you are busy being brilliant and running your successful businesses, but it really is good if you can reply promptly to our queries – one major reason being so that none of us have a chance to actually forget what it is we’re talking about!
  • And, if anything you upload has been paid personally by you, or by cash, please do stick in a note for us.

So, as we’ve seen, keeping the books up to date via daily bookkeeping is really a useful tool in your business’ toolkit. If this is something you may be interested in, please contact us and we’ll discuss adding it to your service.