Maintaining your business accounting records
Business Accounting Records
When running a business, whether a small family business or larger company, maintaining good business accounting records is a necessity.
This may be so that you have accurate information to hand when needed, you can get your VAT returns submitted on time or simply so that you can you can get your year end accounts submitted without too much fuss.
Maintaining essential business accounting records.
Easier said than done?
All those bits of paper that need to be kept and recorded can become viewed as an inconvenient distraction from actually running your business. Yet there are tools available that can help you.
Smarter Accounting Record Keeping Tools
An ideal tool that we have found is Dext (formerly receipt Bank). Dext can reduce the time you spend on admin, limit an admin anxiety and free up time for you to run your business. And cloud storage means no physical storage costs or hefty spends on retrieving archived files.
Efficient Workflow with Dext:
- Snap paper receipts, invoices or bank statements in one click. No need to worry if you lose that piece of paper.
- Dext gets all the important information from your documents and stores them in one place. Say goodbye to duplicates and hours of data entry.
- Dext will automatically sort your financial data by tax, supplier and region to give you a real-time view of your business finances. No more anxiety when it comes to month end.
- This extracted information from your receipts and invoices can then be posted into your accounting records, such as QuickBooks or Xero. If you prefer excel then you can also extract that information into .csv format!
Is a product like Dext right for you?
It could be!
We make Dext available to all our clients and should you want to have a chat about how looking after your receipts and invoices a different way may help you then get in touch. Shaw Austin are a Dext partner and have specialist knowledge when it comes to cloud products.
Shaw Austin are a firm of Chartered Accountants based in Chester supporting independent business throughout the UK. We take the headache out of business accounting and taxation by providing our clients with a personal service.
Published March 2022