Perhaps the most fundamental financial measures any business can take is regular bookkeeping. Consistent, accurate bookkeeping allows you to:
- Create your business’ best budget
- Identify potential cash flow issues
- Monitor trends and patterns in your business
- Project future costs that may affect company growth, expansion or profits
- Protect your business in the case of a financial audit
- Record all transactions, including those with vendors and suppliers, in one place
- Reduce the risk of fraud or theft going undetected
However, despite all the benefits of consistent bookkeeping, many small business owners have difficulty maintaining their records, especially if they must complete this task themselves because they do not have a designated bookkeeper among their employees.
If you’ve struggled with bookkeeping in the past or simply want to set your business up for success, consult with our team to determine the best way to maintain your books.
To learn more about our general commercial financial services, visit our business accounting page.
For over 40 years, Neil C Hocquard Chartered Accountant has consulted with clients with a wide range of financial concerns. When it comes to commercial clients in Newcastle, especially those operating small-scale businesses, one of the most important steps toward financial health is consistent bookkeeping.
Our team can provide routine small business bookkeeping over long periods of time to empower you to run your business to its fullest potential. Additionally, we can assist and consult with one-time bookkeeping projects to get your business back on track.