How Can Better Bookkeeping Help Your Business?

14 July 2021

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As a business owner, you probably know that bookkeeping is important. But do you realise that you can turn it from a chore into a tool that can add real value to your business?

The story behind the numbers

Bookkeeping is more than just data entry, it’s the blueprint for your business, and needs to be approached with that mindset. Yes, it can be time consuming and it’s certainly not the most exciting part of your business, but only when you have clear and accurate bookkeeping in place can you start to decipher the information to influence real life decisions. 

 

Don’t let the friendly tech fool you

Bookkeeping is more accessible than ever, with new technologies developing all the time. Looking at the easy to use interfaces, you’d be forgiven for thinking that you can handle it all yourself. And in theory, you can. Tech has made it possible for SMEs to plug in their own numbers, but it doesn’t offer much more insight than that. Unless you’ve been trained in Xero, it’s likely you’ll miss out on a lot of its fantastic customisable features that could really help you understand the numbers behind your complex business. Even with some software training, are you really confident that you could pull the best insights from those numbers? 

 

And the best supporting finance function goes to…

Bookkeeping is to accounting, what Donkey is to Shrek, Dr Watson is to Sherlock, or Robin is to Batman. The main character does just fine without their trusty sidekick, but their worlds remain small and unexplored. Without the contrasting characters, and that extra dose of confidence, they would happily stay in their swamp/office/batcave and never really consider what could be possible if they were to just put themselves out there. An accurate bookkeeping system, combined with a set of expert eyes, can become the thing that gives you the confidence to take your business to the next level. 

 

Bringing bookkeeping to life

Here at FD Works, we have all the characters you need to tell the real story behind your numbers and help you imagine possibilities you would never know to consider. By taking control of your bookkeeping, we not only keep it up to an excellent standard, but we can see how it connects to your business. With the passion for finance and years of experience we bring to the table, we don’t just identify and resolve issues, we can see the path your finances are on and compare it to where you want to go. 

 

Get it right and grow from there

Good bookkeeping is one of the pillars of a successful business – without it, you can face cash flow shortages, payroll errors, and hefty fines from HMRC. But in the right hands, it can be an asset that you can build your whole business up from. You’re running an entire business. We appreciate the complexities involved in that and understand how easily bookkeeping can slip through your fingers. We’re here to lighten the load and provide you with real, actionable observations to empower you and your business to grow. 

Who are FD Works?

We’re an experienced team of business advisors, accountants and Xero specialists based in Bristol and Bath, but working with clients across the UK.

Do you want to upgrade your bookkeeping?

Contact our professional team today.

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