Keep Your Book Keeping & Accountancy Costs Down.

1. Keep a cashbook: This is a record of all your receipts and payments for your business.
 
2. Drawings: Try to avoid withdrawing lots of small bits and pieces. Instead withdraw larger amounts less frequently and use these to pay for your personal expenditure.

3. VAT: Keep columns in your cashbook for sales and purchase VAT.

4. Bank Reconciliation: This is the process of agreeing the running total of your cashbook to the balance per your bank statement. Often the two do not agree, but the difference MUST be fully explained.

5. Takings: Make sure that the amount actually banked is recorded in your cashbook, not the amount per your till receipt, which may be different.

6. Maintain Your Paperwork Regularly: As you process receipts or payments, file the paperwork away in a level arch file. Also tidy away items paid via direct debit or standing order to leave a small, manageable "to do" tray.

7. The "Other" Column: Try to avoid placing more difficult items into the "other" column, only for your book keeper or accountant to have to spend lots of time trawling through it to reclassify things.