Our accounting firm has spent the last three decades assisting clients with various problems. We are the friendliest company for bookkeeping London based clients can work with. It’s our job to provide solutions that get you out of tough spots. In the end, we hope to enhance your current business practices.
You may already have a sound record keeping system in place. However, this doesn’t mean you should get careless. Mistakes can sneak in and undermine it at any time. They can weaken those systems in your company that depend on bookkeeping as well. The mistakes we’ve listed below are ones you need to watch out for.
Double-check
Not adopting the habit of double-checking can cost you. You must also be consistent about it. A lost receipt, mistyped numbers, and similar human errors produce inconsistent figures. Stop these issues by harmonising your records with your bank statements. Do this each month. Try using as little cash as possible to make tracking your business money simpler.
Confusing invoices
Some small establishments miss out on money because their invoice filing system is lax. Keep your invoices in order and number them. This makes it easier for you to locate the ones that have been paid. At the same time, you can find out if any outstanding balances remain.
Reconcile
Make sure you also reconcile your accounts. Many banks provide statements after the end of every month. They show your starting balance as well as the end figure. Furthermore, they display every transaction during that period. Grab your statements and reconcile your accounts. Failing to do this can cause errors that copy over month after month.
At Brian G Lonis & Co, we help every company and client regardless of their size. Sometimes, it’s simply the case that someone isn’t too familiar with their bookkeeping yet. Instead of struggling, we assist them with getting to grips with everything.
Get in touch today if you want to benefit from the most organised bookkeeping London can offer. Our team are here to help and we also have some of the most competitive prices in the capital. We focus on providing exactly what you need without any of the extra things you don’t want.