5 June 2018
How can you avoid bookkeeping mistakes as a professional? A few quick tips:
As a construction specialist, you want to do the best you can every day for your business. But running a business also means a whole load of administrative formalities. How can you keep the books quickly and efficiently - without making mistakes? Here’s what you need to do.
Firstly, you need a good bookkeeper
Almost every self-employed person in the construction sector often feels like a jack-of-all-trades. But you don’t have to do everything yourself, and certainly not your bookkeeping. Okay, you probably want to keep a close eye on the financial health of your company. But the best way to do that is with a good bookkeeper as a sparring partner. Ideally one specialising in the construction sector.
Try to understand the basics of invoices
Most construction specialists are assisted by a seasoned bookkeeper in the trade but draw up their own invoices. Sounds familiar? Then you’ll know that you really ought to understand the basic concepts and principles of invoicing.
You’re probably aware that invoices have to contain certain elements such as your VAT number and that of your customer. And that they are numbered chronologically, so you can’t just delete invoices. But did you also know that with a good invoicing process you can protect yourself against defaulters? Or are you familiar with the ups and downs of payment reminders? This knowledge will save your company a lot of time and effort.
Use a smart invoicing solution
A good bookkeeper and basic knowledge of invoicing are a good start. But what if you could automate the process of sending invoices? You can, and that’s where an invoicing tool comes into play.
ING Invoice Solutions takes almost all the effort out of creating and sending invoices to all your customers. All the main elements of your invoice are preset and you know exactly what you need to mention where. Finally: no more messing around with Word or Excel! Did you know that you even have time tracking facilities for every employee? As the icing on the cake, you stay abreast of potential late payments and get a quick impression of your finances.