5 Simple Tips to Make Bookkeeping Easier and Less Stressful

With a little planning, bookkeeping can be made simple and stress free. As providers of accounting and bookkeeping services in Castle Hill, Parramatta and surrounding areas we recommend the following:

  1. Ensure Good Record Keeping

Keep your receipts together and keep track of all your expenses. Have a manual or computerised filing system for your receipts, invoices and purchases. Keep a log book of all your vehicle expenses.

  1. Use Cloud-Based Accounting Software

Cloud-based accounting software such as Xero or MYOB makes bookkeeping much easier. As your accountants we can log in and run your reports, enter information, and more. With cloud-based software there is no need to run software updates, your data is secure, and it is regularly backed up.

With many popular forms of accounting software on the cloud your receipts can be easily scanned, which makes record keeping and retrieval of information easy! Cloud-based software can be accessed from any computer anywhere in the world.

  1. Be Organised

When it comes to your financials, organisation is the key! Doing a little bookkeeping regularly rather than doing bulk bookkeeping will ensure that your books are always up to date. Information is also less likely to be lost.

  1. Know Your BAS Lodgement Dates

BAS is lodged every quarter. For 2018, the BAS lodgement dates are:

Quarter 1      Jan to March                 28 April

Quarter 2      April to June                 28 July

Quarter 3      July to September         28 October

Quarter 4      Oct to December           28 February

As your BAS agents and providers of bookkeeping services we can generally obtain a one month extension on these dates when we lodge on your behalf.

  1. Liaise with Your Accountant / Bookkeeper

Regularly keep in touch with your accountant and bookkeeper. They may know of deductions that you had not considered, promotions on software, new business incentives schemes and more. They are also able to give you advice on your bookkeeping procedures and processes.

The above tips will see you spending less time on bookkeeping. The whole process becomes simpler, and you are easily able to access up to the minute financial information. For accounting and bookkeeping services in Castle Hill, Parramatta and Rouse Hill contact us.

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