13 Jan The single most important skill you need for successful accountancy
Accounting forms the backbone of your business; whether you’re an entrepreneur working alone or a multi-national corporation, accountancy is an essential consideration.
Making it as easy, efficient, and accurate as possible is of the utmost importance, and to do that you need to learn and hone one simple skill – organisation.
Why organisation matters
What makes an organisation such an essential skill for accounting for business start-ups? Everything relies on facts and figures – your finances change on a daily basis, so you need to keep records. If you have well-organised financial records, your business is automatically going to enjoy more efficient and reliable accounting than a business that doesn’t.
You need to establish a system – organise your financial records as clearly and as logically as possible. Start by sorting things by date, then by type (for example receipts/invoices, paid/unpaid, etc), and you’ll have the foundation of reliable records. Get into this habit as early as possible, even if your business is small.
Can’t your accountant do it?
It’s never too early to outsource to a professional accountant – so can’t they be organised for you? Well, no. It’s true that your accountant also has to be as organised as possible, but they can’t do it for you. Your accountant can only work with the information you give them – if that information is wrong, or lost, they can’t work miracles.
It’s likely you won’t be your accountant’s only client, so they don’t have the time to go trawling through your finances looking for receipts and invoices lost months since. If you make the effort to keep things organised, they will be able to reward you with an efficient and reliable accounting service that helps fuel your business growth.
The more clarity you’re able to bring to your business finances through your organisational skills and good management, the clearer it will be to see where further savings and opportunities for profit lie.
Getting help and advice
If you want some further help or advice about how to begin putting your business finances properly in order or to hire an accountant you can trust, make sure you contact SQK Accountancy today. We’re small business accountants based in Manchester, who are specialists in cloud accounting,