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New year …New books

24 tips for 2024

To ensure that you are set for success in 2024, here are 24 quick and practical tips that you
can apply to ensure that your books are super charged for 2024!

  1. Keep it simple:
    Don’t over complicate things. Simplify your processes.
  2. Stay up to date:
    Daily updates eliminate the “end of month rush” and keeps your records current.
  3. Seek help early:
    If you need help get it sooner rather than later – find a bookkeeper you trust.
  4. Establish a routine:
    Set a consistent schedule for your bookkeeping tasks.
  5. Automate repetitive tasks:
    Save time by automating recurring tasks like invoices, direct debits, reminder emails.
  6. Monthly Bank Reconciliations:
    Reconcile your bank statement monthly to identify discrepancies promptly.
  7. Embrace Cloud-Based accounting software:
    Explore options like Xero, MYOB, Hubdoc, Dext, Stripe – the list is endless.
  8. Invoice immediately, better yet, automate!
    Speed up your cashflow by invoicing right away, consider automating the process.
  9. Conduct regular financial reviews:
    Asses your financial health regularly to stay on track.
  10. Swift upload of invoice and receipts:
    Immediately upload invoices and receipts to your cloud-based capture app for time
    saving and stress reduction.
  11. Stay compliant:
    Stay updated on tax laws and financial regulations to ensure compliance.
  12. Back up your data:
    Protect against data loss by regularly backing up your information.
  13. Maintain client communication:
    Keep an open line of communication with your clients to address concerns promptly.
  14. Utilize financial reports:
    Make informed and educated decisions by using your financial reports.
  15. Track and celebrate your business milestones:
    Keep an eye on your achievements to ensure you are on the right path.
  16. Stay organised:
    Oganised systems avoid unnecessary stress.
  17. Utilize mobile apps:
    Stay flexible by using mobile apps for “on the go bookkeeping”.
  18. Manage petty cash:
    Keep petty cash well documented and reconciled regularly.
  19. Conduct regular inventory checks:
    Ensure your physical stock matches with your book records through regular checks.
  20. Plan for tax season:
    Avoid the last-minute rush and stress by planning ahead for tax season.
  21. Cross check vendor invoices:
    Ensure accuracy by cross-checking vendor invoices with delivery receipts.
  22. Stay updated on the employment laws:
    Be aware of ever-changing employment laws to remain compliant.
  23. Allocate funds for BAS, Super and Tax:
    Improve cashflow by moving money into separate accounts for obligations.
  24. Diarise your monthly meetings with your bookkeeper
    Scheduling regular meetings with your bookkeeper will ensure that you are up to date
    and on track!

If you are wanting to work with a bookkeeper who is able to ensure you are super charged,
turbo charged and set for success in 2024, I Invite you to reach out to me so we can have a
chat and see how I can help you.

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