By Ryan Grundy on Small Business UK – Advice and Ideas for UK Small Businesses and SMEs
There’s no getting away from it – if you run a small business, you’ve got to run its bookkeeping too. Sometimes, this can seem like an overwhelming and lengthy job, especially if you’re not 100 per cent sure what you’re doing.
You also probably find it a bit of a chore, since you didn’t start your business to search through boxes of receipts, enter data into spreadsheets, or read through bank statements at eleven o’clock at night.
Here’s the good news. With the right approach and tools, you can make sure all aspects of bookkeeping when it comes to your small business are meticulously taken care of, without feeling stressed or sacrificing too many hours each month.
In this article, we’ll show you how.
It covers:
What is bookkeeping?
Can I do my own bookkeeping?
How to make bookkeeping easier
Which software features to look out for
What is bookkeeping?
Using “bookkeeping” and “accounting” interchangeably is common, but the two terms do have different meanings. You’ll need to know the difference, because accounting is not something you can really tackle all by yourself (though you’ll still need high involvement in it).
So, how do they