Did you know that hiring a bookkeeper for your business, no matter how big or small your business is, can have a huge impact on the success of your business? If you’re a small business owner then you probably think you’re managing the bookkeeping just fine alone, but all you are probably doing is making sure you’re complying to the rules set out by HMRC.

There’s so much more to bookkeeping than just recording your businesses incoming and outgoing transactions. Without the support of a bookkeeper you probably wouldn’t know all of this or have the time for it either.

Many clients who first come to us have either been claiming things through the business which HMRC doesn’t allow or not claiming expenses which they are entitled to. If you claim expenses through your business which are not allowable for tax deduction and HMRC investigates you further down the line it’s likely you will be hit with penalty fees. By not claiming some of the expenses you’re entitled to then you will be paying more money to the taxman than you need to and no one wants to be doing that!

How else can a bookkeeper support my business?

At Bluebells Bookkeeping we can help you to save money by reviewing any monthly subscriptions you have and assessing if you’re getting value and worth from them. You may have lots of subscriptions which you don’t use to their full potential which is a unnecessary expense for your business. We can also help you to get better rates and set up pricing agreements with your current or potential suppliers.

If you’re doing your bookkeeping alone, you’re more than likely not being consistent as you’re just fitting it in around working in your business. The more frequently your bookkeeping is done, the more accurate it is to allow you to make important business decisions. 

We can use your bookkeeping data to create a cash flow forecast for your business. This will allow you to set budgets and map out goals for your business. We can review your progress each month so that you know what direction your business is heading and we can adjust accordingly, putting steps in place to ensure you’re still on track. 

Did you know that only 50% of new businesses survive the first 5 years? This is mainly down to poor cash flow, this accounts for 82% of business failures. We can help to keep your cash flow nice and healthy. We can introduce new processes for getting paid on time from your clients and discuss payment options with your suppliers. 

Having the added support from someone rather than trying to just do everything alone will make a huge difference to the sustainability of your business. By doing your bookkeeping consistently your business is more likely to thrive rather than just survive.

Book a discovery call today to find out what difference we can make to your growing business.