Good Record Keeping: Why?

GOOD RECORD KEEPING: WHY?


Record Keeping: How do you feel about it? Really? It can be a pain, pretty daunting and incredibly laborious. However keeping good records in an organised fashion is so important for your business.


Why & how can it benefit you and your biz? Consider these 6 reasons:


It can help to maximise all the expenses you claim and ultimately reduce your tax payment. Surely that's a bonus?

If HMRC decide to stop by or investigate, you can be confident that everything is where it is supposed to be. Phew! * Wipes Forehead *

It speeds up the preparation of your year-end accounts, ultimately saving you money. Cha-ching.

It helps you to identify the strengths and weaknesses in your business. There is going to be both inevitably, but you'll only get a clear picture with a good set of records.

It gives you the info you need to run your business and help it grow. No one knows your business better than you but without reliable records it's a lot harder to make good decisions to help your business grow!

And especially important in these strange times, it can make it easier to get a loan to support your business. It's become common in the COVID-19 Pandemic for businesses to need a little extra help. However that help can be received quickly if your records are in tip top shape.

If you want to talk about which records you should keep and which system of record maintenance is best for your business, give us a call. We also offer a record clean-up service if the thought of getting your records in tip-top shape is a little too much to bear. Contact us today.

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