Ours is an accounting service that has been around for more than thirty years. As such, there is not one area of the profession we aren’t familiar with. In fact, for many people we are the best business for bookkeeping London has to give. Being FFA and FCCA qualified, we know what it takes to offer a brilliant service.
There are plenty of bookkeeping tips out there. However, being experts on the subject, we are aware of what the leading ones actually are. Read on if you wish to discover them too.
The first tip is to conduct a quarterly review. Once you reach the quarter’s end, look at your accounting and bookkeeping records in detail. Watch out for trends like declining or expanding sales and increases in customers paying late. Year-over-year revenues are also essential. Speak with your accountant as they can show you the bigger picture. This shall prepare you for future capital requirements.
Time tracking software
Another thing we recommend is using time tracking software to monitor the hours put in by your employees. Tracking software that is cloud-based permits employees to clock in and out. To do this, they use computers, tablets, or smartphones. This goes beyond simply saving them trouble however. It is easier for management too as you can track PTO, overtime, and other details automatically.
Our final tip is to keep watch over accounts receivable. It is not unheard of for customers to not pay on time. When this happens, cash flows can diminish rapidly. Take notice of when your receivables are due and speak to customers that have paid late straight away. Give them a little nudge. They could be having financial woes but it is still possible to create a payment plan.
Reliable bookkeeping in London
At Brian G Lonis and Co, our services are reliable and professional. Anywhere within the Midlands and the M25, we can supply a consultation organised at a site close to you within 24 hours.
If you wish to work with the top company for bookkeeping London has, contact us. Our services are cost effective so they are perfect for large and small businesses.