Posts tagged “Financial Reports”

There’s a lot to think about when you’re running a small business. 
 
Accurate and useful financial reports can save you time and help you to make important decisions. 
 
But which ones do you need and why? 
 
There are a lot to choose from, so here are some common reports and how they can help you run your business. 
six bookkeeping mistakes made by small businesses, bookkeeper olney, bookkeeper miltonkeynes
When we start our own business, we do most things ourselves, even the things we don’t like, including the bookkeeping. 
 
While it might be tempting to focus on other things, leaving your bookkeeping until the last minute can cause problems. 
 
Here are six common bookkeeping mistakes we see small and new businesses make, along with our suggestions about how to avoid them. 
What is bank reconciliation? bookkeeper bedford, bookkeeping
Bank reconciliation means you have checked that the balance on your bank statement matches the balance you have in your business records. 
 
When the figures match, you can say your bank account is reconciled. 
 
If the figures don't match, your bank account is unreconciled. This means that some of your day-to-day business spending hasn’t been accounted for. 
 
You might have too little or too much in your bank account, but it’s important to know why 
Rubbing out 'un' in unqualified
A bookkeeper can give you back valuable time to spend on your business.  
 
How do you decide which bookkeeper to choose? 
Firstly, and most importantly, your bookkeeper should have formal business and accounting qualifications and accreditations. These can include: 
Association of Accounting Technicians (AAT) Diploma 
International Association of Bookkeepers (IAB) Diploma in Bookkeeping - At least levels 1 and 2 from the Association of Chartered Certified Accountants (ACCA) or Chartered Institute of Management Accountants (CIMA). 
Institute of Certified Bookkeepers (ICB) – Level 3 Certification. 
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