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business

Having your bookkeeping up to date is a vital part of your company’s long-term success in your business market.

With many new small businesses nowadays the owners feel like they have to do everything themselves, which includes bookkeeping.

Don’t ever feel like as a small business owner you are on your own, there are always companies willing to help with growing your business.

business

Organised Books Can Help With Business Growth

Being disorganised with your bookkeeping can make the job of maintaining positive cash flow and turning over a profit a lot more difficult.

Obviously, as a small business owner, you will want to make your life easier and not harder, so hiring a bookkeeper can sometimes be the best thing for your business.

One of the best things you can do in the current world is to start using digital tools, outsourcing to a professional, or both, which together can assist in managing tax deadlines and keeping up to date with any new government regulations, such as Making Tax Digital.

Accurate bookkeeping records lead to more in-depth and better informed financial projection and strategies, so this is definitely something that needs to be adopted for success.

Don’t Neglect Your Books

Your business’s bookkeeping is on your to-do list next month, great!

However, the majority of business owners will postpone their bookkeeping for a later date, this is a big no-no as you could miss important deadlines.

If you haven’t got long until a tax deadline and you rush your bookkeeping, mistakes will be made! This can result in incorrect tax submission, and potentially some kind of fine.

That is why hiring a bookkeeper like Rosemary Bookkeeping to keep your books on track will result in more time to grow your business.

Accurate Financial Information

An outsourced bookkeeper will always be able to provide you with efficient, accurate and up to date financial information when it’s needed for important times like quarterly board meetings or new investor meetings etc.

Another great reason for hiring an external bookkeeper is that you can save your company a bit of money!

Instead of hiring a full-time employee to complete your bookkeeping for you, an outsourced company like Rosemary Bookkeeping can be hired on a part-time basis when needed.

 

Rosemary Bookkeeping delivers an intelligent bookkeeping service to SME’s, Accountants and Franchisors ensuring a consistency of delivery and high-quality work.  Our practical, down to earth and friendly approach provides clients with information that enables them to understand and make decisions on their business, provides peace of mind that HMRC will be happy, with fair and reasonable charges.

Find your nearest Rosemary bookkeeper here.

cloud bookkeeping

Cloud bookkeeping is the best thing since sliced bread and it is only going to get better!

It is a complete game changer for small businesses, and here are a few reasons as to why.

cloud bookkeeping

According to The CEO of Panalitix, “Over 90% of small and medium businesses will move their accounting and bookkeeping activities to the cloud by 2020.” (Arbitrue)

What are the advantages of cloud bookkeeping?

  • Instant access anywhere in the world– Cloud bookkeeping software has stability, reliability, along with being quick and easily accessible anywhere in the world, even sitting on the beach, sipping a cocktail in the Caribbean!
  • Save money and storage space – Having cloud-based software can save you money, as you don’t have to purchase any processors or server space to store your data on or process any information
  • Keep your data secure 

    – Your cloud platform is encrypted and has API keys that help keep your data private and secure
    –  If you have hardware failures, you will never experience data loss, as all of your data is backed up securely

  • Regular updates 

    – The digital world is changing all the time and cloud service providers regularly update their platforms to keep up with the times and provide the best technology they can for the customers

There are so many more reasons as to why you should get your business into the cloud bookkeeping world.

Can cloud bookkeeping provide me with financial reporting?

The short answer is yes!

Having that ability to have real-time financial reporting for your business is a large step towards your financial success.

After all, if you don’t have the data to analyse, then your company will struggle to improve and grow!

Cloud bookkeeping is the way forward with the digital age and it puts all of you business owners back in the driving seat, by providing you with auto-updated and real-time data about the financial health of your business.

 

Here at Rosemary Bookkeeping, we would always recommend getting signed up to a cloud bookkeeping platform to make your life easier.

For more information on bookkeeping services in your area, all you need to do is pick up the phone or pop us over an email to get in contact. Find your nearest Rosemary Bookkeeper here.

Bookkeeper & Bookkeeping Service in Kidderminster, Bromsgrove, Ludlow

Having worked in finance for 15 years and a CIMA qualified accountant, Fiona Perks decided to take the leap into running her own bookkeeping business, which with the help from Rosemary Bookkeeping, became a reality.

Rosemary Bookkeeping Wyre Forest

“I can’t wait to get started and help local business to get their books organised,” said Fiona.

One of the main reasons that Fiona wanted a Rosemary Bookkeeping franchise was because she wanted a better work-life balance, especially with a young family at home.

Fiona is motivated and very keen to grow her business and hopes to be able to offer flexible working options in the Wyre Forest area.

“I received nothing but positivity when in talks with Rosemary Bookkeeping at the start and everything just naturally fell into place”.

Sujay Patel, Rosemary Bookkeeping Network Support Manager added;

“I’m excited to see Fiona kicking off her Rosemary journey with a potential client already in the pipeline.”

If you’re looking for a bookkeeping specialist in the Wyre Forest area, contact Fiona Perks today at fionaperks@rosemarybooks.co.uk.

Find your local Rosemary bookkeeper here.

ServiceMaster has over 300 franchisees operating in close to 700 licensed areas under its brands, including Merry Maids, ServiceMaster Clean, Rosemary Bookkeeping, TruGreen Professional LawnCare and Furniture Medic.  Rosemary Bookkeeping has been recognised as a leading franchise opportunity in the Elite Franchise Top 100 franchises in the United Kingdom.

bookkeeping

There is one thing that most small business owners loath to do and that is bookkeeping.

We understand, there are a lot more riveting things you could be doing with your day! However, it is a legal requirement, so it needs to be done.

Good bookkeeping and accurate records are important in keeping your company running and financially healthy.

Here are 8 top tips for small business on how to improve your bookkeeping:

1.  Procrastinating is a no-no

Are you a procrastinator who leaves everything until the last minute?

Well, with bookkeeping, you can’t be! It can quickly get out of hand and pile up on your desk.

It is important that you keep on top of financial deadlines, for example Making Tax Digital on 1st April 2019.

MTD is a requirement for VAT-registered businesses with a taxable turnover above the VAT threshold to use the MTD service to keep records digitally and use software to submit their VAT returns.

If you feel like you don’t have time to do your bookkeeping and run other parts of your business as well, you can give Rosemary Bookkeeping a call to help with all of your bookkeeping needs.

2.  Bad filing systems

You need to make sure, as a business owner that you are keeping all of your old receipts and filing them correctly with accompanying paperwork.

If you’re reading this and thinking, “oh dear I don’t keep my receipts”, don’t worry there are plenty of business owners like this around the UK.

Get into a habit of when you get in the office every morning to pop your receipts in a folder. Even if this is being filed correctly later that day, at least you have made a start.

Are all of your invoices and bills in sequential order? If they aren’t, then they should be! This will make life a lot easier when it comes to any deadlines, or audits etc.

A quick tip is to start using cloud-based software. This software is very useful and saves you a lot of time when it comes to filing. It can scan your receipts, input important information about your business cash flow and also generate invoices.

3.  Mixing business with personal expenses

If you’re doing all of your bookkeeping yourself, and mixing your business and personal expenses then you’re making your bookkeeping a lot harder.

You would have to sit and sift through hundreds of receipts and separate them into business and personal.

If you initially keep them separate, then this is something you will not need to do and will give you time to do other important tasks.

When the tax return deadline comes around, if you’re organised and have split your business and personal expenses, then you’re more likely to pay the right amount of tax for your business.

4.  Being consistent with your accounts

If you can, set the same date every month to sit down for a good few hours to do get your bookkeeping and accounts in order for the last calendar month.

If you feel like you’re bogged down with too many other tasks, then you can always contact Rosemary Bookkeeping to take over the bookkeeping side of your business.

5.  Pay electronically

An easier way to keep an eye on and make your bookkeeping easier is to make sure all business transactions are paid on your business card and not with cash.

This is obviously, because of the information your bank would provide on a statement; amount, date and the recipients/company name.

6.  Employee classification

Many businesses have different classifications of employees, be it full-time employees, part-time employees and independent contractors.

Keeping these separate and correctly classified is important to avoid such things like any overpayment of taxes or misfiling.

7.  Backup, Backup, Backup!

We all know what technology is like, it can decide to turn off or have some kind of error at any time.

This is why backing up your data securely on a cloud-based platform is extremely important!

You need to make sure this is a secure platform that works in conjunction with GDPR to ensure the safety of your data.

8.  A light bit of reading

You would be surprised at how many business owners don’t read financial statements and just add them to their procrastination pile.

There are plenty of reasons why financial statements can help with your business and avoid a financial breakdown. Here are a few reasons:

  • See current/upcoming financial trends within your business sector
  • Gain insight into maximising your tax deductions for the year
  • Share with existing/potential investors as to how your business is performing
  • Stay in control of all of your cash flow

Those are but a few reasons why financial statements can help you run a business and keep your bookkeepers happy!

 

If you feel like you don’t understand the bookkeeping side of your business, or just don’t have time to do it, you can always contact your local Rosemary Bookkeeping office here.