Bookkeeping Is An Investment – Part II

Hi there from gorgeous Sunny Tramore. Please let it stay like this for the long weekend. It’s Friday yeah!

I was a very happy man last weekend. Amazing weather, so we took a trip to Kilkenny and had a lovely stroll around the grounds of Kilkenny Castle. There was a bustling market outside, with amazing smells and local artisan products. We hit the road for Dunmore East after and strolled along the walk to Porthally. This is now much longer and goes all the way out to Ballymacaw. We had to turn back at Rathmoylan beach owing to a mixture of thirst, tiredness, and the onset of grumpiness. Chips and calamari from East Pier took care of the hunger and it was lovely to soak up some of the evening sunshine.

Last week we looked at why bookkeeping is an investment and why it’s so important for a good business. In case you missed it click here

This week we are going to look at what a quality bookkeeping system could look like for you.

We will look at

  • What is quality bookkeeping
  • Autoentry
  • Dext/Receipt Bank
  • Cloud Accounting
  • Using the info
  • Warning

What does quality bookkeeping look like?

You have to start with getting the basics right so what are the basics?

  • Payroll system where all employees get payslips, paid on time and the figures are right
  • A proper system to capture expenses – paperwork is right and approved
  • Vat returns are on time and correct
  • Vat return of trading details is on time and correct. This can scupper tax clearance
  • The bank account is up to date during the year
  • You are aware of Vat & PAYE payments, and these are paid on time
  • You know what money is owed to the business -debtors
  • You know what money you owe to suppliers – creditors
  • You know what business performance is like during the year and can make decisions on up to date numbers

We will look at some of the tools you can use to get there.