5 Ways to reduce your accountancy costs

5 Ways to reduce your accountancy costs23 Jul

You’d be surprised at how many businesses we see who don’t have the basic processes in place when it comes to keeping their paperwork in order. Disorganized, messy record keeping can add hours to any period/year-end accounting. Here are a few simple rules which should make your accountant’s life easier, and hopefully your bill cheaper!

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Keep receipts to support any expenses claim. Make notes on the paperwork/spreadsheet of any additional details.
File things in date, alphabetical, or numerical order order to save time. Be consistent in your approach.
Have a separate business credit card and file with the receipts. Keep a separate business bank account and reconcile regularly.
Keep cash transactions to a minimum - it’s messy and we don’t like it!
Use a standard accounting package – Sage or similar. Most accountants have compatible software making integration quick and easy. Again, when making entries, give as much detail as possible – e.g. July 09 rent, not just “rent”!

If you need any help with the basics, contact Aileen or Julie, or leave a comment below.

One Response to “5 Ways to reduce your accountancy costs”

Simon (July 23rd, 2009 at 3:53 pm)

I’m amazed he can see the screen from that far away.

Business Coaching

timmajorsmall Tim’s Top Tip:
Stop using your diary for just appointments! Use it to…..

Plan how you will spend your daily, weekly, monthly, yearly time working ON your business.
Set “SMART” (Specific, Measurable, Achievable,Realistic, Timely) business goals in your diary.
Do not confuse tasks with goals. Put them in your diary and remember - tasks are just steps towards your goals.
Balance your life by planning your private goals, time off, significant dates, and life tasks in the same diary.
Use an electronic diary. (Googlemail is brilliant) It is then easy to default the routine items.

Tim Major
Action Coach

A growing number of our clients are achieving significant results through Business Coaching. If you are looking to run your business more successfully, prepare it for sale or just spend less time working in it, you should give Tim a call today on 07870 218699.