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Doing your own bookkeeping can be manageable when you first start out in business. However, once you start to get more busy and your workload increases you may find that your bookkeeping is the first thing that gets put to one side.
Your bookkeeping is a legal requirement. You must keep a record of all of your transactions and proof of expenses, so it’s something you need to be in control of in order for your figures to be as accurate as possible. Also knowing your current financial position is important for making those critical business decisions. If your finances are up to date you will know what is best for your business at that moment in time.
Outsourcing your bookkeeping is becoming a more common occurrence now than employing someone to look after your books in house. This is because a bookkeeper can work virtually and remotely. This means there’s no need for office overheads and having to pay tax, national insurance and pension contributions. By using a freelance bookkeeper you only pay what their fees which are counted as an allowable expense. These fees can be agreed so you know exactly what you are paying each month so there’s no nasty surprises.
How will it benefit me?
Time saving
At the moment it’s probably taking you at least twice as long to get your books in order than what it would for a professional bookkeeper. It’s not your area of expertise and you don’t necessarily know what the right software is to suit your business requirements. You may even be using spreadsheets to record your transactions. A good bookkeeper will have software and processes already in place to do your bookkeeping, making it easier for them and for you to monitor your finances. At Rosebery Accountancy we use Dext and Xero to ensure consistency and accuracy. You will never lose a vital receipt for your expenses with the use of the Dext app and we can give you access to your financial status in real time, from wherever you have an internet connection via Xero.
Money saving
Yes that’s right! We can help you to save money! We can audit your transactions and see if we can help you to save money. Whether that be by getting better deals for you or cancelling unwanted subscriptions. We can point you in the right direction to ensure you’re always getting value for your money and you’re not over spending in areas where it’s not required.
Cash Flow
Not only does a bookkeeper record your daily transactions but they can analyse the data in order to forecast your cash flow. This is a great way to guide your business in it’s growth, helping you to set challenging yet achievable business goals. At Rosebery we will also monitor your credit control to ensure that more clients are paying on time to keep your cash flow nice and healthy. We can even set up agreements with your suppliers for better payment terms to suit your cash flow.
Reports and meetings
If you chose Rosebery Accountancy as your bookkeeper we will meet on a regular basis via Zoom to discuss your finances and make sure that you’re on track for any goals we’ve helped you to set. We can help you to put appropriate steps in place in order to grow your business and make sure it’s as successful as possible.
Get in touch today to find out how we can support your business!
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