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Small Business Accounting Tips
When you run a small business, the best idea is to make sure you start your business as you mean to go on by incorporating good accounting habits!
We've shared a few of our tips:
- Use software to maintain your accounting records. You will need software to maintain your bookkeeping in the cloud and to submit VAT returns to HMRC once you become VAT registered
- Having software is beneficial because you can use it to raise your sales invoices. This will enable you to email your customers invoices almost immediately, meaning you can get paid quicker and you won't forget to invoice either!
- Another tip is to stop doing your own bookkeeping and hand it over to your accountant as soon as you can. Your time will be better spent growing your business and winning new business, rather than reconciling your bank!
Our team would be more than happy to help you with the above, so get in touch and we can set up a free, no-obligation chat to see how we can help you.