Whose Reconciling your Accounts?
Who's reconciling your accounts? Your accountant won't be handling this task; it's up to you to take charge. If you find yourself short on time, hiring a bookkeeper can ease the workload. However, even with professional assistance, it is best practice to match your transactions to receipts and invoices in Xero. This often leads to double handling and time-consuming back-and-forth between yourself and your bookkeeper.
Instead, consider taking on the administrative tasks yourself, by reconciling your own accounts, you can free up your bookkeeper's time to assist with more complex tasks. Not only does this reduce your accounting costs, but you also gain a clear understanding of your cashflow at all times. DIY bookkeeping is a great way to ensure your books are kept in shape whilst ensure you have full control on your accounts.
Try following the below tips to help you stay on top of your administration
Set Regular Time Aside: Allocate specific time slots in your schedule dedicated solely to administrative tasks.
Use Technology: Utilise software and apps to streamline administrative processes, such as accounting software, project management tools, and cloud storage for document organisation.
Prioritise Tasks: Identify urgent tasks and prioritise them accordingly to ensure they are completed promptly.
Create To-Do Lists: Make daily or weekly to-do lists to track tasks and ensure nothing slips through the cracks.
Stay Organised: Establish a system for organising paperwork, files, and emails to easily locate information when needed.
Automate Where Possible: Implement automation tools for recurring tasks like invoice reminders, appointment scheduling, and email responses.
Outsource Non-Core Tasks: Delegate administrative tasks that don't require your expertise to free up time for more important responsibilities.
Continuous Learning: Invest time in learning new skills and techniques that can enhance your administrative efficiency and effectiveness.
Assessing these factors can help you determine whether it's time to hire a bookkeeper to ensure your financial health and support your business growth.
By dedicating some time to familiarise yourself with these tools, you can maintain accurate financial records, ensuring a clear picture of your financial health without the need for professional bookkeeping services.
At Ako Cash Flow, we’re not just bookkeepers—we’re your financial empowerment partners. Our mission is to give you the confidence and skills to manage your own books with ease. With our tailored tools and expert guidance, you’ll learn how to track income and expenses, master cash flow, and make smart financial decisions that support your goals. We believe that financial independence is key to long-term success. That’s why our approach focuses on education and support, enabling you to take control of your personal or business finances and build a stronger financial future. Let's empower your journey together!
