A Quick Guide To Keeping Records:
This
article deals with the main questions self-employed people ask about record
keeping.
Keeping records makes sound business sense. It may
seem like a challenge, particularly when you're starting out, but keeping good
records will bring real advantages to your business. The key is to get a proper
system in place from the outset, and update the information regularly.
Record
keeping in three simple steps
1.
Set up a system. It doesn't matter whether you use an ordinary
exercise book, special account book or a software package as long as you set up
some kind of system to keep the information together. Make sure the system you
choose is geared to your business, and simple to use.
2.
Keep records throughout the year. Update your records regularly,
rather than letting the paperwork pile up.
3. Keep
your records for as long as required. As a general
rule, you should keep your records for a minimum of six years.
Ensuring
that your books are carefully maintained, with all transactions properly logged
and recorded, is straight forward and we can give you free advice on the best
systems to adopt.
If you
would like help in any way then please give me a call to arrange a free
consultation.
Jenny Knapton
MAAT
MIP
