Stuck In A Bookkeeping Rut? Let’s Dig You Out

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June 13, 2016
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It’s true that the digital age is moving faster than anyone thought possible. No matter what work you do, you’ll have encountered a need for foresight and efficiency when running your business, which, more often than not, means staying ahead of the technological curve.

Don’t be left in the dust, because there are few things worse than being lapped by your competitors as they take advantage of something you should’ve done first. Accounts management is one area that’s been transformed by the tech revolution, so we thought we’d remind you how to stay up-to-date with it all…

Secure Your Accounts

It’s easy to get stuck in your comfort zone, daunted by the up-and-coming digital solutions out there. However, after you’ve spent a little time getting to grips with online platforms, we promise you’ll never go back.

Cloud storage not only makes managing your accounts easier, it also prevents mishaps like losing important receipts. Accounts software such as FreeAgent solves your bookkeeping woes, helping you monitor your finances. Be open to the benefits of online storage, and you’ll save a lot of time and energy worrying about what data is where, and whether it’s secure.

Take Inspiration

As a contractor or freelancer, it’s easy to feel isolated when dealing with issues such as late paying clients, cash flow problems and securing new contracts when your existing ones come to an end. However, with so many blogs and websites devoted to industry news, nowadays there’s a chorus of insight just a mouse click away.

Don’t be afraid to ask others for help, whether it’s a fellow freelancer, a mentor, or your friendly accountants (that’s us!). And of course, you’ll find lots of answers on our blog that will help you overcome issues with your bookkeeping.

Look Ahead

Contracts don’t always come thick and fast, as we all know. Sometimes you’ll have a dry patch where business is slow, particularly during holiday periods like August and December. Without the foresight to see these arising, it’s easy to get caught out with your workflow and cash flow.

Simply lumping your contacts and accounts into a spreadsheet isn’t enough anymore. By switching to bookkeeping software, you can spot possible slow spells before they arise, with visual graphs that give you a holistic view of your client base and bookkeeping. In doing so, you can look for responsive ways to encourage new and returning clients alike, such as email campaigns, social media, and even approaching recruiters.

So, there you have it – a few pointers on how to become technologically savvy, outlined by a team that’s seen its share of successful independent professionals. Staying one step ahead of technology allows you to focus on what you do best, and more importantly stand out from your competitors.

For sound advice on managing your bookkeeping, get in touch with Bright Ideas Accountancy on 0161 669 4221, or email Info@biaccountancy.com today.

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Whether you’re a contractor, freelancer, or small business, Bright Ideas can help remove the burden of time-consuming and complex finances. We’ll draw on our years of knowledge and experience earned helping sole traders just like you.

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