At PPF, one of our core services is Bookkeeping. If we do a client’s bookkeeping it will be done two to three times a week and if you do your own bookkeeping, we suggest you do the same!
I know you are now thinking ‘’come on, bookkeeping, that often, really!!
Well, if you’re anything like me, when someone is asking you to do something, you’ll want to know – WHY?
What’s the benefit for me?
Why should I spend my time on this?
Well firstly, what’s the reason we even do bookkeeping in the first place?
For some business owners, it’s purely to get a figure to send to HMRC and to know how much tax you owe.
And we get it. That is most certainly not much of a motivation!
For us, it’s a hell of a lot more than that.
It’s an invaluable part of your business’ toolbox.
So why do we do it so often, is this really necessary?
Well, bookkeeping is more than just getting numbers for the tax man! Up to date bookkeeping in Xero means that you have up to date info on:
- who you owe (so you can avoid late payment or overdraft fees…)
- who owes you (so you can get that money in your bank before they’ve forgotten about it!)
- tax! Not at all fun, we know, but working proactively – saving, and making adjustments to be more tax-efficient where necessary
- everything! And therefore you don’t have a massive panic / have to spend your evenings and weekends working through a mound of paperwork when you’re feeling pressed by a deadline!
Everything in your business’ accounting workflow should be helping you to know your business inside out, avoid nasty surprises, and grow with confidence.
So, if there’s a bit in the process you’re not doing, don’t like, or don’t understand, ignoring it is really causing more harm than good…
Why let someone else look after your bookkeeping?
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, when people are taking a really long time to pay you (and what you can do about it!), 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.
If you want to get a better understanding and maybe, just maybe, start to enjoy your bookkeeping, check out our On Demand Xero Training Course.
Or if you know this just isn’t your thing, and you want all the insights but for someone who really knows their stuff to be doing the work then book in a discovery call.
