Whether you separate them with clips, envelopes or file folders, organizing your paperwork before handing it over to your bookkeeper saves you money.
Get in the habit of asking for receipts every time you make a purchase, all the HST your business pays out means you pay less to the government. It also creates a good habit for personal budgeting.
Keep a notebook in your car to jot down mileage used for your business and what the business activity was.
If anything out of the ordinary happens with your finances such as; a point of sale system going down, a regular deposit being missed, or a cash counting error, document and date it. This could save a lot of time down the road, which means saving you money.
A bookkeeper is only as good as the documentation you provide. Ensure you’re doing your due diligence and providing all the necessary financial documents and relaying any major changes in operations and finance.