Bookkeeping is a highly valuable skill and is vital to the operation of many organisations. Precision bookkeeping requires methodical tenacity and attention to detail.
Fortunately for most small entities the bookkeeping is straightforward and the volumes manageable. If you find that bookkeeping is a distraction from your main business then you should consider paying someone to help you. Bookkeepers are often willing to work for an organisation for as little as a few hours per week, which can be a life saver to some one person companies and sole traders.
There are many methods of bookkeeping including spreadsheets, traditional software (not recommended) and online bookkeeping systems. Whatever system is used the number one vital rule is to ensure the system agrees (or at least reconciles) to the bank statements.
If there is a clear correlation between your bookkeeping and the balances on your bank statements then you will have achieved a very good system; if not then there is more work to do before accounts preparation can be started.
We provide a bookkeeping service for some businesses. We will be happy to discuss your requirements at any time.