There is a lot to unpack when it comes to finances. Because of this, people often find themselves overwhelmed. In this situation, it is best to call on the help of professionals to do the necessary work. We can help by offering the highest quality services for bookkeeping in Stratford. They can help any business to do what they need to.
It’s necessary to be organised when it comes to financial records. You may have a stack of receipts on your desk, in your bag, or in your pockets. Keeping them in order will save you time. That is not all though. Such action will aid you in keeping an eye on your cash flow and your business’ financial health. Let’s talk about how you can keep up with your paperwork.
Where do you put them?
Firstly, you can create a storage point that is easily accessible. You might have had a busy week attending conferences or meetings, leading to the receipts piling up. We understand what it is like. Alternatively, you could have had a bunch of digital ones come in via email waiting for you to go over them. The simplest way of staying on top of everything is producing a storage point. This could be a separate email folder or a plastic wallet. Get into the habit of placing all your receipts in one spot.
Keeping the original records
Next, you will need to see whether you have to keep the originals. You must preserve your financial records for a minimum of six years. Although, they don’t all need to be paper documents. HMRC will take digital variants of everything minus dividend vouchers or interest documents. This means you are able to scan and maintain your business receipts digitally. You don’t have to hold onto all that paper.
Finally, you will want to categorise the receipts. If you are claiming allowable business expenses, you must know what group they fall under. The receipt could relate to marketing, office costs, or travel expenses. If you possess a paper receipt, write down the category on it so you can organise things easily. Alternatively, you can create a list of the categories your expenses usually fall under. This will make things easier when the bookkeeper prepares the books or HMRC has a look at your accounts.
Speak to us to get the best bookkeeping in Stratford
At Brian G Lonis & Co, we possess a thorough understanding of the accounting profession. As a result, we can give you the exact information you need to help overcome your problems. We will tailor our solutions to your specific needs to give you the best value.
So, please let us know if you need the finest services for bookkeeping Stratford has. We’d be happy to discuss it with you and offer a quote for the service you need.