Accounting Made Easy – In Five Simple Hacks

If you asked me what every decision a company makes, I'd say it's money. Every business is run by a force that is directly or indirectly related to a certain amount of money.

On tracks, which are characterized by fanciful nomenclatures such as "Business Development", "Product Operations" and "Technology", people often tend to leave the "Accounting" behind. You can find information regarding accounting solutions via https://www.rwkaccountancy.com.au/.

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Survival is key, where products and operations take care of everything. To make life easier (bookkeeping), here are simple hacks that will let you keep your books right without too much trouble:

Bank Statement Labels – Simply download your bank statement into a spreadsheet and show the transaction purpose for each transaction. Do this once a week to avoid buildup.

Small Money Book – When you spend a lot of money on your operations, start saving some in an Excel notebook or worksheet.

Sales Invoice Log – Try to keep a central table when selecting invoices to track invoice and recovery numbers. You can reconfirm with your collection. 

Payment History – Update the table with the basics of each invoice paid – such as amount, PAN number, GST, date, etc. This helps coordination.

Remember deadlines – The age at which we live allows us to be informed. Just follow the general compliance deadlines and don't forget to make your statement or hire someone to do it!

Discipline ten minutes a day is enough to set it. The effect of this is clarity on your account and company position.