The thought of paying tax is unlikely to fill anyone’s heart with joy.
For most business owners, sorting out your year end accounts and tax return is a job that will always remain at the bottom of the to do list.
Here at Ihelm Enterprises, we have clients who fill shoeboxes with receipts. Others use plastic bags. On occasions, even the glove compartment of their car.
We’ve all lost the occasional receipt. Accidentally damaged them. Or had the ones where the print magically disappears over time.
Whatever filling system you use within your business, and no matter how successful or unsuccessful you think it is, the reality is that a pile of receipts will always be just a pile of receipts.
With cash flow being the main cause of business failure, we recommend turning that pile of invoices and receipts into the data that will help you to make better business decisions. Such as knowing what sales you make the most profit on. Identifying your best customers. Budgeting so you don’t overspend and put unnecessary pressure on your cash flow.
Keeping your bookkeeping up to date will not only get rid of the depressing piles of paperwork, it will also ensure that you get tax relief on every eligible business expense. It will also mean that you know what tax you should pay in advance, so you can be proactive and begin to put the money aside. Taking the stress away from that last minute panic to find the required funds.
At Ihelm Enterprises, we believe that bookkeeping should be pain-free and cost-effective. We work closely with our clients to ensure that they get a bookkeeping package that meets their individual requirements and more importantly, puts them back in control of their paperwork and cash flow.