Start the year fresh with these 4 tips!

If you haven’t already started to go paperless, make 2023 the year you do. Many software and operations that provide receipts or invoices also offer paperless solutions. You can also request digital records of all accounting and that way you don’t need to worry about dusty cabinets full of paper receipts.

At Greenhalgh Pickard, we’ve been shifting our business operations to carbon neutral, and this means going paperless. We’ve implemented electronic communications and technology systems to minimise printing wherever possible. See what else we’ve been doing as part of our 2023 Climate Strategy.

Whilst you don’t need to make this a daily or weekly thing, it’s good to make sure you’re checking in on your finances (and with your accountant and/or bookkeeper) on a regular (say monthly) basis.

Keeping your finger on the pulse means you can iron out any issues before they become big problems!

This is probably something you’re already doing, but if not make 2023 the year you do! When accounts and receipts get mixed up between personal and business it can make tax time tricky (and no one wants that!). Keep separate savings accounts and credit cards for both personal and business uses.

For the sole traders out there who aren’t yet registered for GST. Don’t wait until the end of the financial year to scrape together your taxes – put money aside as you go into a separate account that you can use to pay your end of year taxes. This habit will also help you to plan for any unexpected events as well, should they arise.

Automate, automate, automate – it’s the way of the future and great way to build more efficiency into your day, whether at home or in your business. You’ll still need to make sure your account balances have sufficient funds, but at least you won’t have reminders spinning around in your head, and you won’t be hit with late fees.