20 Bookkeeping Tips
AITC • November 22, 2018
- Keep Your Records Organised
- Keep Your Personal Finances Separate
- Use Cloud Accounting Software
- Create a Simple but Functional Chart of Accounts
- Go Digital with Your Payroll
- Segregate Duties for Each Part of the Cash Conversion Cycle
- Regularly Reconcile Your Bank Statements
- Keep Track of Your Financial Data on a Monthly Basis
- Perform a Self-Audit
- Document & Deduct Expenses That Are for Personal/Business Use.
- Detailed Inventory Records are Important.
- Take Control of Your Accounts Receivable
- Plan for Major Expenses Including Taxes.
- Don’t Wait Until Year End to Talk to Your Accountant
- Take Advantage of Small Business Tax Credits & Deductions.
- Leave an Audit Trail.
- Petty Cash Receipts are Important.
- Use the Appropriate Accounting Method.
- Avoid Paying Business Expenses in Cash.
- Find yourself a great Bookkeeper.
Discover how Melbourne businesses use Xero cloud bookkeeping to save time, reduce errors, and stay compliant. Streamline your finances with All In The Cloud.
Discover why Bookkeeping For Franchises is essential for compliance, cash flow, and growth. All In The Cloud offers expert support tailored to franchise owners.
Discover the benefits of Cloud Bookkeeping with Xero. All In The Cloud offers expert cloud bookkeeping services, setup, and support for Australian businesses.
