Records for Bookkeeping – 10 Helpful Tips on Keeping Your Records Straight

Below are 10 helpful tips on how you can keep your records straight.

  1. Have a separate business bank account/PayPal account etc.
  2. File all invoices and receipts in separate monthly folders.
  3. Keep “paid” and “unpaid” invoices separate.
  4. Set aside an hour every week to keep your purchase ledger and sales ledger up to date.
  5. Enter petty cash receipts either weekly or monthly and ensure they are fully reconciled each time.
  6. Reconcile your bank/PayPal accounts every month.
  7. If you paid for something personally, note it on the receipt and whether it is a loan or an investment.
  8. Mark invoices as PAID and put on them how they have been paid – cheque, cash, bank, etc.
  9. Store the paperwork for each financial year separately so you can access it easily if needed.
  10. And FINALLY…and probably the most important is to just keep on top of your paperwork.

If you would like more information on how we can help you with your record keeping, please contact us via the Contact Us Page, our Facebook Page, or on Twitter.

Are you a UK Business Owner and use QuickBooks Online Simple Start, Essentials or Plus?  Are you unsure of how to use the software correctly?

If so, why not take a look at the 5-Day Online Video Training Course I have created to help UK Business Owners learn how to use the basic features of QuickBooks Online?

Over the course of 5-days, you will be guided through how to set up your products and services, how to set up for VAT, how to invoice customers and receive payments, how to track purchases and expenses, how to properly use the bank feed, and how to access some of the most common reports that every business needs.  You will have access to this course for life, so you can work at your own pace and keep going back to it!

For a one-off fee of £79.00, you will receive full access to the course and can continue to return back to it anytime you need to!

Visit: https://courses.ihelm-enterprises.co.uk/courses/the-basics-of-quickbooks-online-a-5-day-training-course/ to read more about the course and buy it today!


.