Bookkeeping Tips

Bookkeeping tips for the summer holidays!

31 Jul 2021

Running a business can be a juggling act at the best of times. But running a business DURING the summer holidays, now that’s something else altogether!

Whether it’s because the kids are off school for 6 weeks, or just that you’re trying to juggle work around your team’s holidays –  summer can be tricky!

So, to give you a bit of a business boost we’ve compiled some of our favourite tips for surviving the summer holidays to make sure you come out with your bookkeeping (and your brain) intact.

 

Tip No.1 – Planning

Without planning, there’s a strong chance that everything could go into freefall, followed by a rapid downward spiral!

So, take some time out to sit down and make plans. Think about what your work targets are, which tasks are essential and which are flexible. And ALWAYS block out a little spare time for the inevitable emergencies.

Think about whether there’s anything that you can put in place that would help?

Apps might not be able to run your business for you just yet, but they can be incredibly useful when it comes to managing your books.

If you’d like to know more about scheduling invoices ahead of time or auto tracking mileage and expenses, we’d love to show you how.

 

Tip No.2 – Manage Everyone’s Expectations

Be honest with yourself about how much work you can actually get done.

Making promises that you can’t keep, even when you fully intend to give it your best shot leaves everyone feeling deflated. So, have some conversations, re-jig some deadlines and make sure everyone enjoys the summer. Your clients will most likely be hoping to do the same!

Think about the demands of the business itself too. Will you have time to send and chase invoices? What about your statutory obligations like VAT and payroll? These are all tasks that you can easily outsource, meaning that any work time you do have is spent working on things that really need your attention.

 

Tip No.3 – Change the Structure of Your Days

Don’t be afraid to change your routine during the summer! Know what you need to get done in what timeframe and discipline yourself to do it. When you’re not working, don’t be afraid to record a voicemail explaining that you’ll be picking up messages later.

 

Tip No.4 – Outsource What You Can

Outsourcing can be scary. Giving up control of anything to do with your business is always a little daunting, but an efficient telephone answering service or a super-powered bookkeeper (winks craftily) can make a huge difference to your business and your wellbeing during the summer.

Small jobs like reimbursing expenses, preparing financial statements and running payroll don’t require your specific skills, but they do demand a lot of your precious time – so let someone else have fun with those!

 

Tip No. 5 – Know Your Cash Flow

Keep an eye on your business accounts. Summer is a great time to analyse your cash flow, forecast what’s happening over the coming weeks and really understand your business’s position before making any important decisions about your expenditure for the rest of the year.

 

We hope you’ve enjoyed reading our summer holiday tips. If they’ve created more questions than answers, or if there’s anything you think we might be able to help you with then please get in touch. We make a mean coffee – and once the summer’s coming to a close, you may well need it!