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Further
Reading ...
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Give Yourself a Boss’ Day Gift and reap the Benefits - Linda LaPointe
Give Yourself a Boss’ Day Gift Become a better boss and reap the benefits Another interesting study was done. One that should really catch our attention. It reveals that employees who are happier and treated well, produce better results than those...
Changing Your Mindset to Achieve Success - Al Martinovic
Alot of people ask me if I can give them one piece of advice on how too be successul on the internet... what would it be? Believe it or not, it is not any tool that I use or marketing strategy or secrets that I possess. The biggest thing that...
Get Out Of The Stone Age: Give Leadership Talks - Brent Filson
PERMISSION TO REPUBLISH: This article may be republished in newsletters and on web sites provided attribution is provided to the author, and it appears with the included copyright, resource box and live web site link. Email notice of intent to...
Using Resell Rights to Get Traffic and Subscribers - Jeremy Gislason
You see the ads all over the place, "Get 147 ebooks and 56 software titles for only x amount of dollars". Or how about, "Buy the master resell rights to this product for only xx amount of dollars". Lots of people buy these everyday with the hope...
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Banish Those Bookkeeping Blues!
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Written By:
Tracey Lawton
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Are you one of those people who are guilty of just stuffing your receipts into a folder and thinking 'I'll sort that out when I've got time'?
Do you need a more organised bookkeeping system, nothing too flash, just something that's simple and easy to manage?
Follow my tips below and you'll soon have that simple and easy-to-manage
bookkeeping system that won't bring you out in a cold sweat whenever you hear the words 'tax return'. And I promise you, it works!
Gather your supplies!
Get hold of a large ring binder, divider cards, A4/letter-sized paper,
stapler, pen, all your business receipts and invoices, plastic folders and a large coffee (or whatever else you prefer!).
Then lock yourself away for a couple of hours.
Get organised
You now need to organise your ring binder into the following sections:
Invoices - Unpaid -- this section is for your outgoing business expenses that have not yet been paid i.e. supplier invoices. Write on the top of each invoice the date it needs to be paid by and place all unpaid invoices in 'date to be paid' order with the earliest one on top.
Invoices - Paid -- this section is for your outgoing business expenses that
have been paid or you've paid at the time service was rendered, i.e. that ream of paper that you bought from the office supplies store. Staple each receipt on to a blank piece of paper rather than just putting them directly into the ring binder. This just makes it easier to see at a glance all your receipts and you can also make notes on the paper. Also write on the top of each invoice/piece of paper the method of payment.
Receipts - Unpaid -- this section is for all your invoices that you have sent to clients that have not yet been paid. Write on the top date payment is due and put them in date order so that it's easier if - continued below ...
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continued ...
you have to chase overdue invoices.
Receipts - Paid -- this section is for all your invoices that have been paid. Write on the top the date it was paid and how it was paid i.e. bank transfer, cheque, credit card etc.
Bank Statements -- this section is self-explanatory! Just keep everything in date order.
Schedule It In
Now that you've got your system in place, schedule in each week/month to keep your bookkeeping binder up-to-date. In between updating place all your receipts and invoices in a plastic folder so that everything is together when you come to update your system--it would be too time-consuming to add each receipt as you get it!
What Next?
Depending on how far you want to handle your own accounts, you can either hand your very organised bookkeeping binder over to your accountant at the end of the financial year for them to prepare your final accounts, or you can maintain your own books with the use of financial accounting software.
Either way, you've now got a bookkeeping system that is simple and easy-to-manage and won't cause you to break out into a cold sweat at the very mention of the words 'tax return'.
Don't want to do it yourself? Let me help you! Contact me today to find out more about my budgeting and bookkeeping services.
About the Author
Tracey Lawton, Virtual Office Manager, supports small businesses and
independent consultants with their office administration and audio
transcription projects. She has over 18 years office management and
administration experience for both public and private sector organisations, as
well as independent consultants and professionals.
http://www.traceylawton.com
Subscribe: http://www.traceylawton.com/tips.htm
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| _Additional Resources ... |
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Ebook Review: How to Write and Publish Your Own eBook in as little as 7 days - Andy George
Jim Edwards and Joe Vitale who are both well known in the Internet online industry wrote this eBook. The 2004 version of this book is 206 pages long though it should be mentioned that less than 100 pages are concentrated on the theme of the eBook...
Beautiful Web Sites Seldom Make More Sales - Vishal P Rao
Designing an E-commerce Web site is not as simple as having a "pretty" site that is a pleasure to visit. While it is important to have an attractive site, as much thought must be given to functionality as to appearance. Many Web designers seem...
CRM 101: Customer Relationship Management for Beginners - Scott Hawksworth
Customer Relationship Management, abbreviated “CRM,” is the term for a business strategy that is designed to improve customer service. CRM is also designed to increase customer satisfaction and gain new customers, thus increasing a business’...
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