| When starting out, it's not uncommon to | | | | question arises about a purchase you made 10 |
| personally handle all the work involved with running | | | | months ago, will you be able to answer it? |
| your business. But if all goes well, you'll reach a | | | | 2. Separate paperwork for income, expenses, and |
| point where it makes more sense to pay | | | | other transactions - or ask your bookkeeper |
| someone else to perform some of the | | | | what he or she prefers. |
| administrative functions, so you can devote more | | | | 3. When you receive a receipt, make sure that |
| time to serving customers and generating more | | | | the date is clearly marked. If it isn't, write it on |
| income. In many cases, bookkeeping is the one of | | | | the receipt while it's fresh in your mind. |
| the first tasks to be delegated. | | | | 4. Similarly, make sure that the items you |
| Unless you've been well trained, a qualified | | | | purchase are identified on your receipts so your |
| bookkeeper will be able to process your | | | | bookkeeper can enter them under the |
| paperwork more efficiently than you and make | | | | appropriate tax category. |
| sure that all income and expenses are recorded | | | | 5. If you have multiple bank accounts or credit |
| appropriately for income tax purposes. Keep in | | | | cards, make sure the account used for the |
| mind, however, that for your bookkeeper to do | | | | transaction is clearly indicated on the invoice or |
| his or her job accurately, it's up to you to provide | | | | receipt. |
| all required information. Since you are likely paying | | | | 6. If you aren't sure whether something can be |
| for the service by the hour, it is also in your best | | | | claimed as a business expense, flag it with a |
| interest to make sure that your paperwork is | | | | sticky note. |
| organized in a way that your bookkeeper doesn't | | | | 7. Attach your paid client invoices to the |
| have to spend a lot of time going through it all to | | | | respective deposit slips. |
| figure out what everything is. | | | | For paperwork which your bookkeeper has |
| There are several things you can do to ensure | | | | already processed, develop the habit of filing it |
| that your bookkeeping is completed accurately | | | | right away. It should already be well-organized, |
| and efficiently. | | | | and you will only need to pop it into the |
| 1. Keep your paperwork organized throughout the | | | | appropriate file folders. After all, didn't you hire a |
| year - don't throw it all in a box until tax time. If a | | | | bookkeeper to make your business life easier? |