You're in business to make money so you need to have control of your business finances to see how you're doing and how you're performing against your goals, targets or expectations.
You need to be aware of things such as: who owes you money? who do you owe money to? when is it due? etc, etc.
Basically, you need to be organised otherwise you're not going to be aware of all of these things and that will have a negative effect on the success of your business. A good bookkeeping system gives you organisation over the important financial aspects of your company.
In business, you'll often need to lay your hands on certain invoices, bank statements and other documents and hence having all this information in an organised state and knowing where everything is has great value.
You also have your statutory obligations to deal with if you're a limited company so you need to keep accurate financial records. Your VAT returns and annual accounts are made on the basis of the records you've kept so it's vital to have an effective bookkeeping system in place to ensure that your records are accurate, correct and complete.
If you know that you have a good bookkeeping system in place then you can relax in the knowledge that all your financial records are nicely in order. You'll then always be aware of who owes you money and when it's due, how much you owe and to whom, and will have an ongoing picture of how well the business is performing.
If you'd like any assistance with getting your records in order then you can utilise our bookkeeping services and we can put in place a bookkeeping system for you, leaving you to focus on your core business.
Article Source: http://EzineArticles.com/?expert=Robert_D_Jameson
You need to be aware of things such as: who owes you money? who do you owe money to? when is it due? etc, etc.
Basically, you need to be organised otherwise you're not going to be aware of all of these things and that will have a negative effect on the success of your business. A good bookkeeping system gives you organisation over the important financial aspects of your company.
In business, you'll often need to lay your hands on certain invoices, bank statements and other documents and hence having all this information in an organised state and knowing where everything is has great value.
You also have your statutory obligations to deal with if you're a limited company so you need to keep accurate financial records. Your VAT returns and annual accounts are made on the basis of the records you've kept so it's vital to have an effective bookkeeping system in place to ensure that your records are accurate, correct and complete.
If you know that you have a good bookkeeping system in place then you can relax in the knowledge that all your financial records are nicely in order. You'll then always be aware of who owes you money and when it's due, how much you owe and to whom, and will have an ongoing picture of how well the business is performing.
If you'd like any assistance with getting your records in order then you can utilise our bookkeeping services and we can put in place a bookkeeping system for you, leaving you to focus on your core business.
Article Source: http://EzineArticles.com/?expert=Robert_D_Jameson
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