Sakura Business Solutions - Bookkeeping

Simplify Your Bookkeeping

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It is really important to ensure that all of your business activity is kept as up to date and accurate as possible, where you have decided to manage the weekly and/or monthly bookkeeping for your business.

This is of particular importance if your business…

– Is VAT registered.
– Is operating a payroll scheme.
– Will be paying corporation or income tax to HMRC.

What you need to do to ensure that your bookkeeping is up to date?

Bank & Cash Accounts

Ensure that all bank accounts used by your business are setup and included in the QuickBooks or Xero software.

Ensure that all transactions for each of your bank accounts have been included in total for the month or year.

In practice, this will also include accounts such as Paypal, Stripe, TransferWise, company credit cards and bank loans etc. This will also mean ensuring that each bank account balance is ‘reconciled’ or matching the balance on the bank statement!

Sales

Ensure that payments from customers are allocated or paid accurately against the customer/sales invoices, and that ‘payments on account’ or ‘part payments’ are all invoiced accurately.

This means that when running the Aged Debtors or Outstanding Customer invoices reports, there should be little or no…

- Payments on the report without invoices or
- Invoices on the list which have been paid, but remain outstanding on the report.

Purchases

Ensure that payments to Suppliers are not made without having the invoice against which the payment is being made!

Ensure that when running the Aged Creditors (or Outstanding Supplier invoices reports), there should be little or no…

- Payments on the report without invoices
- Invoices on the list which have been paid but remain outstanding on the report.

Blogs – Bookkeeping

Why is ensuring your Bookkeeping is up to date so important? 

Why is ensuring your bookkeeping is up to date so important? 

It is really important to ensure that all of your business activity is kept as up to date and accurate as possible.

READ MORE
The 7 Problems Resulting From Poor Bookkeeping

The 7 problems resulting from poor bookkeeping

Where you have decided to continue to manage the bookkeeping for your business, then it is important to avoid these problems by keeping your bookkeeping accurate and up to date!

READ MORE

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How can Sakura’s bookkeeping service help your business?

The Sakura team can deal with all of your ‘day to day’ bookkeeping requirements where you want to outsource this work!

Alternatively, if you have decided to continue to manage the bookkeeping for your business, then we can offer a ‘troubleshooting’ review for QuickBooks or Xero to:

– Identify any errors or omissions in your bookkeeping

– Set out an ‘Action list’ of what needs to be brought up to date

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How could Sakura’s Bookkeeping service work better for your business?

Review and identify omitted or delayed transactions

Review and identify omitted or delayed transactions

Review and update the chart of accounts, bank accounts etc

Review and update the chart of accounts, bank accounts etc

Work on NEW processes to get weekly bookkeeping in place

Work on NEW processes to get weekly bookkeeping in place

Book a meeting