Perth Mobile Bookkeeping Services

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Happy New Financial Year �

In Australia, the financial year starts on 1 July and ends 30 June.

Have you made any New Year�s Resolutions?

We always encourage our Clients to get a better handle on their paperwork � it saves us time, and thus saves our Clients money in bookkeeping fees.

A very simple habit to get into is simply this: Every time you pay an account, be it an invoice, or even making a cash purchase, you can do a little bit towards your bookkeeping. Write the date you paid the invoice, the amount you have paid, and the source of funds used for the payment.

Straightaway you are asking: �Why do I have to write the amount that I have paid on the invoice, when there�s already an amount printed on the invoice?� Well, we do not know whether you are paying the whole amount as stated on the invoice, or whether you are making a part payment.

Why write the date of payment, when the invoice clearly states the invoice due date? � Again, how does your Bookkeeper know when you actually paid the invoice, without spending a few minutes chasing up the payment?

Why write the payment method? You may have paid by cash, or by cheque, or by credit card, or Internet Bank Transfer.

So which bank account, credit card account or other source of funds did you pay the invoice from?

A simple extra minute spent adding this information could dramatically reduce your bookkeeping fees each year.

There are many other New Year�s Resolutions that you could be making for a successful twelve months in your Business.