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Keeping your bookkeeping system in check

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We’ve spent more than 30 years working in the accounting profession. In this time, we have built up our knowledge of the industry. At this point, we’re sufficiently prepared to help clients with anything they’re having trouble with. For one we are the number one business for bookkeeping Stoke Newington has. This means you can speak to us if you haven’t got everything in order.

Managing a company is an impossible task without a top tier bookkeeping system. It can aid you in realising tax demands. In addition, it offers you a decent idea of what state your financial viability is in. There’s a lot that goes into keeping your books reliable and accurate. The following tips on bookkeeping are ones you can use to maintain the system.

Don’t overspend on the smaller things

Make sure you save money on the smaller purchases. Don’t just buy expensive payroll software for a handful of employees. Take some time and learn how to calculate things on your own. Afterwards, set an excel schedule up. Next, place a reminder on your calendar for every due date. This includes filing and payroll dates. As a result you will save time and money. You can still allow professionals to compute the annual returns though or ask for help if you get stuck with anything.

Think about the whole cash cycle

Another tip we have is to separate responsibilities for every section of the cash conversion cycle. Duties here include dividing certain business operations. Examples of these processes would be reconciliation and authorisation. Others include record keeping and custody of assets. Doing this will help to prevent issues like fraud.

At Brian G Lonis & Co, we like to learn as much about our clients as we can. The benefit here is we can provide a superior service. Using the details we obtain, we can suggest solutions that would benefit you the most. As a result we are one of the very best for bookkeeping Stoke Newington has to offer.

If we can help you in any way, please give us a call. Alternatively, you can send us a message from our website.