Are you one of the small business owners who are struggling to find their missing bits of paperwork for the January deadline? Poor planning and last minute accounting can put undue pressure on the cash flow of the business and the individual. Even if you hate paperwork we can find a solution to take the headache out of it for you! Here are some ways you can make your life easier!
Bank Stream –
Are you a business owner that turns the office and home upside down for weeks trying to locate a year’s worth of bank statements? No wonder your accounts seem like a headache! There is a product on the market called bank stream which does this for you. With Bank Stream you sign an authority for the bank once and for a small charge we, as accountants can download your bank statements any time we want, very hassle free. Not all banks are signed up to this at the moment if yours is not perhaps the suggestion below can help.
Internet banking –
Most businesses are managing their money online now. If you are not, you should consider this as it may be a more cost effective solution to your banking! If you are using internet banking make it part of your monthly routine to download a statement in csv format and email it to your accountant. It will take literally minutes if you are using the site anyway and will save you a headache at the year end.
Cash Books –
For those of you who like to write up your cash book manually, there are now cloud based cash books from as little as £2 per month. By this I mean they are internet based, you enter the information as you enter it on your cash book but the software means the results are a lot more meaningful than a manually written up cash book. You will actually be able to see how you have done. Your accountant can also have a log in and access your information which allows for greater interaction and support available when you are stuck and it also means the financial information is readily available with no extra effort.
Make it a New Year’s Resolution not to have a headache next January.
If you would like to discuss these options further or would like to discuss what other options are available to take the headache out of your year-end routine, get in touch. We would be happy to provide a free consultation meeting to find the best solution for you.