The Four Basics of Bookkeeping

The Four Basics of Bookkeeping

Though technology has revolutionised the way bookkeeping is done, that doesn’t necessarily mean that technology and software do all the work for you – someone still has to organise, input, track and check the data to make sure that everything is correct.

Even if your startup doesn’t have the budget currently to hire a full-time or outsourced accountant or bookkeeping person, that doesn’t mean bookkeeping should be put on the backburner. Find a system that works for you (we recommend our software, which is designed specifically for small businesses), set some time aside each week and follow these tips to keep your own books while you get your business off the ground.

It’s All About Organisation

Whether you’re using software or an Excel spreadsheet, the most important aspect of bookkeeping is staying organised. Keep meticulous track of business expenses, employee expenses, operating costs, sales, and cash flow. Though it can be tedious work, it’s a task that’s critical to the health of your company and is worth the tedium.

Accurate Data Entry is Key
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This article was contributed by micro/small business solutions provider Financio. 

Financio, a product of ABSS, brings small business accounting automation to Singapore and other countries, redefining how small business owners handle accounting and tax tasks, bringing accounting software to the next level.

Find out more about Financio and branded accounting software and their wide range of products and services here.

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