Basic Bookkeeping Hints for Start Ups
When you start out in business you want to keep your costs down to a minimum and probably your bookkeeping is not very high up on your list of priorities. A common mistake to make but please do not under estimate the importance of bookkeeping for your company.
You should always look to keep your overheads low especially when you start out on your own as you may not even have enough money coming in to cover your outgoings. Whilst, you should not consider completing your own bookkeeping for ever, it is definitely an idea in the early days to keep basic records yourself and look to hire a bookkeeper when the time is right.
As long as you keep simple but accurate records of your income and outgoings you will not only be legal but you could potentially cut your accountants bill. A set of spreadsheets, if maintained and updated regularly will give you an idea of how well or bad your business is doing.
If you need help setting up your own spreadsheets there are FREE downloadable examples available on our website by clicking here. Cain & Beer also offer email support and run basic bookkeeping workshops throughout the South East; for further information on these services follow this link.