The 5 Bookkeeping Principles You Must Get Right
There are few things more critical to success than the set up of your accounting system when you are running a business.
To understand your TRUE financial position you need to read the RIGHT financial data.
Making sure the absolute basics are set up right in the first place can have a ripple effect throughout the whole business.
Join Ange and special guest Magdaleen Kelly of Aqua Vantage in this video, where you will learn:
- The basics to get right when setting up your Xero file and converting from other accounting software platforms.
- What your Chart of accounts is and why it is so important to get right! PLUS what it should look like to operate a successful trade business.
- How to bullet proof your expenses, revenue, and GST allocations.
- How to streamline and automate your bank reconciliation process.
- Right data in is right data out. When you fix your input, the output will fix itself and start providing you meaningful reports that tell your business’s unique story.