The top 5 Bookkeeping habits you should start if you own a business

With 2022 in full swing, it’s definitely time to pick up some great bookkeeping habits that will enhance the rest of the year.

1. Keeping the proof of your purchases.

The number of times I speak with business owners who have not kept receipts, get themselves in all kind of trouble. If you can keep a proof of purchases, ie receipts, these receipts will help in determining your cash flow, the more data we have on hand, the better. You can save your receipts using different tools, create a digital space that stores your receipts. There you can share them with me as your bookkeeper.

2. Setting up due dates for business payments.

Business payments are things like rent, utilities, taxes, payroll. Missing any of these payments can cause major issues for your business. The best way to avoid this, is by setting reminder on the due dates of these payments.

3. Keep a petty cash system on hand

Petty cash is there to help your business with small expenses. For example, office supplies, reimbursing employees for expenses. The fund is generally only filled with a few hundred dollars and exists to keep track of the small expenses that staff often forget to hand receipts in for.

4. Record your receipt and invoices

This one is so important to keep in order. Keeping receipts in numerical order, categorised by date allows you to streamline your bookkeeping. You will then have a audit trail which makes it easier to track back if needed. This helps bookkeepers find specific receipts or time periods easily.

5. Get a bookkeeper

That’s where I come into the equation. The best thing you can do for your bookkeeping in 2022 is to outsource to a bookkeeper. I can make running your business far easier, taking those time-consuming tasks off your plate. Ensuring accurate regular reports are completed, ensure your data is available to use. This will also ensure you have the latest data to back your business decisions, bringing clarity and confidence to any business owner.

If you would like to have a chat with me anytime, please text, call on 0429 363 047.

Maree Punzet | Maree’s Mobile Bookkeeping | 0429 363 047
You didn’t go into business to do your Payroll and Bookkeeping, BUT WE DID