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Use these three tips for tidy bookkeeping

by , 13 May 2014
Your business bookkeeping should be tidy and easy to use. Not only do you rely on it to manage your company finances, but SARS may want to take a look at them if it audits your business. It'll be a big problem if your books are unorganised and messy and SARS can't understand them. With so much to think about, it's easy to lose track of everything and end up with a bookkeeping mess. It doesn't have to be if you use these three easy tips.

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How to improve cash flow, analyse your financial statements and eliminate fraud in your company…
 
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Use these three easy tips for tidy bookkeeping

When it comes to keeping your bookkeeping tidy, there are a few things you can do:
 
1. Use Excel as a template
Excel has become an important tool for bookkeepers everywhere. It helps you keep everything you need in one document. It also helps you avoid messy hand writing or crossing out of mistakes (For seven tips to make your Excel spread sheets look tidy, go here).
 
Control the people who work with your balance sheets, cash flow statements or profit and loss statement. This will help you keep them tidier and more streamlined. If lots of people are changing things and moving things around, it's just going to be a mess. 
 
3. You should only use a trusted bookkeepers
The Practical Accountancy Loose Leaf advises that you only use a trusted accountant to manage your bookkeeping. Your accountant or bookkeeper could alter the numbers and steal money from your company if you don't. This is why you must check up on your finances regularly even if you use an accountant. 
 
But none of this helps you if you're missing important pieces of your bookkeeping. So remember to include these...
 
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REVEALED: The secret to reducing your audit fees…
 
The truth is you could pay less accounting fees while at the same time prevent fraud, save on tax and Vat costs and keep up to date on changing legislation.
 
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Include these documents for tidy AND complete bookkeeping

Remember to include these documents in your bookkeeping and double check that they're neat and easy to use. It may be a lot of work in the beginning but it'll be worth it in the long run. The books to look at are:
 
- Management accounts;
- Balance sheet/statement of accounts;
- Cash flow statement; and
- Profit and loss statement.
 
These documents are important for your company. They must also be included in your annual financial statements at the end of each financial year.
 
So keep your bookkeeping tidy and under control with these easy to use tips.
 


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