A profit and loss (or income) statement lists your income and expenses. It tells you how much profit you’re making, or how much you’re losing.
It’s one of the most important financial documents your business will need to produce. Successful business owners review their Profit & Loss regularly.
Here are 9 great reasons business owners should be reviewing their Profit & Loss report on a regular basis:
1. Tax Planning
If your bookkeeping is up to date, you’ll be in a position to discuss tax planning strategies with your accountant before the end of the financial year. It’s in your best interests to be familiar with your Profit & Loss so that you understand your discussions with your accountant and their recommendations.
2. Meeting Statutory Obligations
Preparing your Tax Return is probably the most obvious reason you’ll be needing an up to date P&L. When you’re signing off for your accountant to lodge your Tax Return on your behalf, you’re accepting responsibility for the figures that have been provided for it’s preparation. By becoming familiar with your P&L, you’re putting yourself in a better position to understand what you’re signing.
3. Goal Setting
You cannot set appropriate income targets unless you know what your current income is.
4. Pricing Strategy
Your revenue may be increasing, but if your expenses are increasing at a greater rate, then it may be a sign that your pricing hasn’t kept up with your growing costs.
5. Warning Signs
If the business isn’t making a profit, you can take corrective action to turn this around
6. Selling Your Business
Your Profit & Loss report can demonstrate your businesses’ profitability and can increase the likelihood of a successful sale. Get to know your P&L so you can gauge when it’s a good time to consider selling.
7. Cashflow Management
Reviewing your P&L regularly will give you an idea of whether you will need to set more or less money aside to cover any anticipated tax bills.
8. Decision Making
A P&L helps a company’s management team to understand the business’s net income, which may be helpful in decision-making processes. For example, a business owner may consider whether his or her company is bringing in enough of a profit to justify renovating their building or expanding in other ways. It can help a business owner decide whether they can hire their next employee, or whether they can give staff bonuses or wage increases.
9. Obtaining Finance
Lenders and investors will evaluate your net income and operating expenses, debts, and taxes to ensure your business is viable and worth providing financial assistance to. Do you know if now is a good time to approach lenders for funding?
Final Thoughts
Simply put, you need to be reviewing your Profit & Loss report on a regular basis if the success of your business is important to you. It’s not enough to know you’ve got cash in the bank or that business is “busy”, so everything must be okay.
How often are you reviewing your Profit & Loss? Is your bookkeeping up to date so that you can in fact have an accurate Profit & Loss report in-hand each month?
Happy bookkeeping….
Sarina
Festival Bookkeeping are Xero bookkeeping specialists located in Adelaide, South Australia. We have happy clients Australia-wide that are succeeding and growing in business, while we take care of the books.
About the author
Sarina Abbott is the owner of Festival Bookkeeping. She’s a registered BAS Agent and Xero adviser who has previously worked in the legal and conveyancing industry, as well as for a registered training organisation. She lives in Adelaide, South Australia with her husband and 2 sons.
You can find out more about the team at Festival Bookkeeping here
Using Facebook ads is a popular way to market your business. Being relatively new to creating paid Facebook ads, I do find that a lot of my time and energy is spent on coming up with the marketing material and then navigating my way around Facebook Ads Manager (Arghh, so many decisions. So much time spent going around in circles).
How you feel when you’ve finally finished creating your Facebook ad campaign!
And then the fee gets deducted from your bank account. If you’re a Xero user, you’ll see the charge come up automatically in your bank feed the next day and know what you’ve been charged and when. So now you need to take care of the bookkeeping side of things as well.
As an Australian business owner we know that we need copies of receipts in order to keep the tax office (and therefore our bookkeeper) happy. We do know that, right? Oh good.
So here are the steps needed to download a receipt for your Facebook ad:
Go to your business Facebook page.
Click on the Ad Centre drop-down arrow on the left side-bar
Click on ALL ADS
Click on the blue ADS MANAGER in centre of screen
Click on 3 Bars under the Home icon
Click on BILLINGS (suggest you bookmark this page for easy access)
Change the date range in the top right corner, to include the date of the receipt that you’re looking for. Click Update
Under the “Action” heading, click on the Download button next to the receipt you want
Save to an appropriate folder in your computer.
Bonus points if you attach the PDF to your transaction within Xero.
OR, alternatively, if you’re more familiar with Business Suite:
Go to your business Facebook page.
Click on BUSINESS SUITE on the left-hand side
Select ALL TOOLS
Hover over the black sidebar to the left to view all the options
Click on MORE TOOLS
Under MANAGE select BILLING (suggest you bookmark this page for easy access)
Change the date range in the top right corner, to include the date of the receipt that you’re looking for. Click Update
Under the “Action” heading, click on the Download button next to the receipt you want
Save to an appropriate folder in your computer.
Bonus points if you attach the PDF to your transaction within Xero.
If you’re unsure whether you’ve provided Facebook with your ABN, look for it in the bottom right-hand corner of your Receipt.
Happy bookkeeping….
Sarina
Festival Bookkeeping are Xero bookkeeping specialists located in Adelaide, South Australia. We have happy clients Australia-wide that are succeeding and growing in business, while we take care of the books.
About the author.
Sarina Abbott is the owner of Festival Bookkeeping. She’s a registered BAS Agent and Xero adviser who has previously worked in the legal and conveyancing industry, as well as for a registered training organisation. She lives in Adelaide, South Australia with her husband and 2 sons.
You can find out more about Festival Bookkeeping here.
We know we can Do Beautiful Business with Xero. We know Cliniko is The Software for People who Care. And when integrated, you’re saving valuable time and reducing the risk of data entry errors.
But what are some of the common mistakes that small business owners and their staff make when using the two together?
4 Common Mistakes When Using Xero and Cliniko
1. Reconciling the Xero bank feed transaction against the Invoice when you use Clearing Accounts
When you have Clearing Accounts set up, Cliniko pushes the invoice payments through to a Clearing Account in Xero, instead of pushing it through as a payment to the bank account. It’s important to pay off the Invoice in Cliniko first. Then go back over to Xero and select the Clearing Account on the right-hand side once you’re in the Reconcile screen.
How do I know if I have Clearing Accounts set up? In Xero, under your Accounting tab – click on Chart of Accounts – click on the Assets tab. If you have a clearing account set up, you will find it here. To check in Cliniko also – click on Settings – Payment Types. Check the “Xero Account for Payments”.
2. Archiving invoices in Cliniko and not voiding them in Xero
You may assume that when you archive an invoice in Cliniko, that action results in the invoice being removed in Xero also – but that’s not the case. The integration doesn’t have this funcationality, so you will need to manually “void” the invoice in Xero so that your Accounts Receivable figures are correct.
3. Archiving invoice payments in Cliniko, but not removing them in Xero
Similar to number 2 above, when you remove an Invoice payment from Cliniko, that action does not result in the Invoice payment being removed in Xero.
You will need to head over to Xero, open the invoice, click on the invoice payment in blue and select Options – Remove and Redo.
4. Allocating credits in Cliniko but not allocating the credit manually in Xero
One of the nice things about Cliniko is the way Credits are dealt with – it’s very easy to see if a patient has an outstanding credit to be applied and Cliniko will even prompt you to allocate it to the oldest unpaid invoice. If you do allocate a credit in Cliniko though, you need to also hop over to Xero and apply the credit manually yourself so that your information in both software is consistent and accurate. The process of allocating credits in Xero will be different if you use Clearing Accounts, compared to if you don’t use Clearing Accounts.
Note: When editing invoices, voiding invoices or allocating credits in Xero – if the invoice falls in a period where the Activity Statement or Tax Return has already been lodged, take care with this step and check with your BAS Agent or Accountant if unsure first.
So if you have made the above errors when using Xero and Cliniko, what are the consequences for your business?
Inaccurate Accounts Receivable figures in your financial reports – your patients may have unpaid invoices sitting in Xero that should have either been removed or showing as paid.
Clearing accounts not coming back to “0” – throwing out your Balance Sheet figures
Higher accounting or bookkeeping fees if your trusted professionals have picked up the problems and are having to fix them before preparation of your BAS or Tax Returns each time
Happy Bookkeeping….
Sarina
About the author
Sarina Abbott started her bookkeeping firm Festival Bookkeeping in 2015. She’s a registered BAS Agent, Xero adviser and self-confessed numbers nerd. She’s been sharing her bookkeeping tips via The Savvy Bookkeeping Blog since 2013. You can find out more about Festival Bookkeeping here:
You lean over and turn off your computer after a full day of work. You feel relieved that another day is done. Your mind turns to what you’re going to have for tea and whether you’re going to need anything from the supermarket. Then out of the corner of your eye you spot a couple of receipts partly folded and starting to fade that are placed precariously on top of a pile of other papers. Sigh….you still haven’t done your bookkeeping. Another day has gone and you didn’t get around to it like you promised yourself you would. Again.
If you don’t run your own small business, this scenario might seem a little trivial. It’s just entering a few dates, names and numbers, right?
Well I’ve lost track of the number of small business owners that have confided in me how bad they feel about being behind in their bookkeeping and how much it’s affecting their personal life and business life.
This is what I hear a lot:
“My partner is getting frustrated with me because I don’t know my figures” “My tax return is overdue and I’m sure I’m going to get a big fine that I can’t afford” “I’m sure I will need to register for GST soon, but I don’t know what my income is. It’s really worrying me because I know I have to do something about it soon” “My business coach keeps asking for my figures – but I don’t know them”
Now you would think I’m going to tell you that you should outsource to a bookkeeper or buy this new, beaut software. But that’s not what this post is about. This post is to genuinely share methods that small business owners can use themselves, in order to gain the motivation to get their bookkeeping done. These methods are what I use myself when motivation is low, or overwhelm is high. They are not expensive or difficult and I’m sure that if you use even a couple of these methods, you will get your bookkeeping done or at the very least make great progress.
1. Use a timer
This can be an online timer, your watch, or even try an old-school method. Set the timer for a short period of time – 40 minutes is fine. Commit to 40 minutes of bookkeeping only. Smash it out and feel great about the progress you just made. Maybe that’s enough – you’ve achieved what you set out to do. Turn off your computer and forget about it for today. Now maybe the time went quickly for you and you feel you’ve got another 40 minutes in you. You’re on a roll. Go off and step out into the sunshine for 5 minutes or make a cup of coffee to reward yourself. Go back to your computer, set the timer for another 40 minutes and smash out another 40 minutes of bookkeeping.
2. Work somewhere different
If you’ve got a laptop, move it out of the office to the dining room table. Or move it from the dining room table to the bedroom. Personally I would have difficulty working outside, but if that works for you, then go for it. Go to the library (I get phenominal amounts of work done when I work from the library – however it’s usually business development work and not accounting, as I don’t want to risk others accessing my accounting information because I’m using a public internet connection). Go to your parent’s house. Book a once-off day to work from a co-working space. Just change up where you’re working from, because sometimes just the thought of sitting down at that same spot that you’ve already spent hours at can be depressing.
3. Treat yourself
Buy snacks for yourself that you wouldn’t normally buy – specifically for bookkeeping. Treat yourself with something nice, so that sitting down to do your bookkeeping is a positive experience.
4. Do smaller amounts often
Now you might not realise that this is one of the reasons you put off your bookkeeping. But if you’re only logging into your software or opening up your spreadsheet every few months (or even longer), then you’re probably forgetting how to do a lot of it. Decision fatigue is a thing! If you have to keep stopping and deciding what to do next, or are trying to remember how you did something last time, then you’re wearing yourself out without even realising it. By doing it more regularly, everything will stay fresh in your mind.
5. Eat the ugliest frog first
This has been one of my most helpful business mantras since I discovered it about 5 years ago. If I’ve lost you here, check out Brian Tracy. I’m thinking bookkeeping might be your Ugliest Frog. So eat it first!! Practise a bit of tough love on yourself and do your bookkeeping before you do anything else that day. You can even try getting up 40 minutes earlier, for the sole purpose of getting bookkeeping done. The rest of the day will feel SO good for you that the decision to then get up and do the same thing the next day will be even easier. Your day will flow a lot better and you’ll become much more productive in general. You can use this concept for anything in your personal or business life.
6. Listen to music
This seems a bit obvious, but how often do you actually make the effort to put on music while you work at your computer? Or if you are doing your bookkeeping first thing in the morning, have music on while you’re in the shower before you start. Similar to the special snacks you treat yourself with, you will start to look forward to doing your bookkeeping because you’ve made a fun ritual for yourself.
7. Start tracking your monthly income
This doesn’t need to be fancy. Start writing down your total sales each month. Each time you get another month’s bookkeeping done, record somewhere separately what that monthly sales were. Some months it may be less than the month before – that’s okay. You just motivated yourself to kick butt that bit more in the next 4 weeks. Some months it will be more than the month before – congratulations! Something you’re doing is working – the proof is in the numbers. It’s quite addictive once you start tracking your numbers – you will find yourself automatically motivated to get your bookkeeping done.
8. Just turn on the computer
In my early 30’s I used to run a lot. There’s a trick with runners to keep motivation up – they say just to “put on your sneakers”. It really works. Once those runners are on, it’s that much more easier to just step out the door and do your run. Do this trick with your computer. Get up and turn it on! Before you get dressed. Before you make your coffee. Before you check your phone. When I have a particularly overwhelming and large client job to do, this (oh so easy) tip works every time.
9. Positive mindset
I know it’s easy to get into the mindset that bookkeeping is boring. Bookkeeping is pointless. Bookkeeping is hard. Or thinking “numbers aren’t my thing”. Well I challenge that mindset. You’re not going to love everything in business – if it was easy, then everyone would be doing it and doing it successfully, right? Having a positive mindset helps in all areas of your business and personal life. You can choose to keep thinking bookkeeping is horrible – and continue to avoid doing it – and continue to beat yourself up over not doing it. Or you can choose to re-frame your thinking around it.
For example:
I can’t wait to get that 40 minutes of bookkeeping done, because then I’ll be on track to get my tax return done early this year. Gee that’s going to feel good.
I feel like my sales are up this month – I can’t wait to check my income spreadsheet to see if I hit $5,000 in sales finally.
Woo hoo – another month’s bookkeeping done. Time to hit the pub.
Okay – so these might seem a bit corny, but you see what I mean. Your bookkeeping is what you tell yourself it is. You get to choose your attitude.
Why would a bookkeeper share these tips?
I don’t mind sharing these tips with small business owners. There will always be business owners that don’t want to outsource their bookkeeping. There will always a point in time when it makes sense for a small business owner to do their own bookkeeping. When it’s time to outsource – it’s time to outsource. The cons of doing it yourself will outweigh the pros and you will (probably with relief I’m thinking) hand it over to a professional bookkeeper.
In the meantime, I just know there’s a tip or 2 above that you can implement straight away. My wish for you is that you no longer feel bad about being behind in your bookkeeping and get to experience that feeling of relief that comes with being up to date very soon!
Happy bookkeeping….
Sarina
About the author.
Sarina Abbott is the owner of Festival Bookkeeping. She’s a registered BAS Agent and Xero adviser who has previously worked in the legal and conveyancing industry, as well as for registered training organisations. She lives in Adelaide, South Australia with her husband, 2 sons, a dog and a rabbit.
You can find out more about Festival Bookkeeping here.
Trying to choose the right software to use in your business can be difficult. Having the opportunity to see what other business owners who are already using that software think about it can be a huge help. So I was lucky enough to have Merel Purmer of The Art of Expression tell us a bit about her business and her own personal experiences with using Cliniko.
What services does your business The Art of Expression provide?
We provide counselling and art therapy services
Can you please tell me a bit about your business journey – where you started and where you are now?
I started my business in July 2014. I have slowly built my business. At first still working in a part time-job, then moving full-time in my own business and now I have 2 employees working with me.
How did you find out about Cliniko software?
I did extensive online research into the different practise management software systems. This helped me working out what exactly I wanted from a system and which one would than suit me best.
How long have you been using it?
I have been using Cliniko since January 2017
Did you try any other similar software prior to deciding on Cliniko?
No I haven’t tried anything else. I use the free trial period to find out it I liked it. Once everything is set up it does not make it easy to move to a different system. Having said that, I have not once thought about moving to a different system.
Did it take you long to learn how to use it? Did you teach yourself or did someone show you how to use it?
I taught myself how to use it. It did not take me very long to understand the main components of the Cliniko. It is very easy to navigate, I like the lay-out and all the features it has.
Cliniko has very good support. I can ask a question at any time and someone will help me out.
What is your favourite feature of Cliniko and why?
I like how from my booked client appointment I can easily add the notes for the session and create an invoice for that particular session, and Cliniko sends the invoices to Xero. The best thing is that I can give you Sarina, as my bookkeeper, access to Cliniko to create all my invoices!
I am now also using the ‘forms’ feature with my clients. I create my own customised form, for example my assessment form, and send this to my clients to fill out. Clients don’t need a laptop or any special software to fill out the form. They can access the form by following the link I send them, on their phone/tablet/computer.
Have you had any feedback from clients as to whether they like/don’t like it?
I have asked for feedback when I send of the first assessment forms and the feedback from clients is that it is easy to use. The only negative is that they have to fill out the form in one go as it does not safe anything you have entered previously.
I also use the online sessions, Telehealth, feature with clients. This has been absolutely fantastic during COVID. The connection is secure, encrypted from both ends, giving my clients the privacy and confidentiality they need. Clients have appreciated still being able to connect during COVID. Some clients still access the online sessions.
Do you use Cliniko in conjunction with any other software or apps?
Yes, I have my Xero account linked to Cliniko.
Is there anything you wish the software would do, that it doesn’t currently do?
I don’t think I am using all the features yet!
Finally, would you recommend Cliniko to other business owners in the same industry as you?
Absolutely!!
Hopefully this will help you in your business journey as you navigate your way through software selection.
Festival Bookkeeping specialise in assisting business owners with their Xero and Cliniko bookkeeping needs. You can find out more about us on our website: http://www.festivalbookkeeping.com.au/
I get that bookkeeping can be a bit of a hassle or (dare I say it) boring for some small business owners. Your focus is on doing a great job for your clients and being able to pay your bills. So with that in mind I’ve chosen 3 of my favourite bookkeeping tips to make life that little bit easier for the tradies out there.
1. Separate personal banking from business banking
Many business owners start out by using their personal bank account for business purposes. And if you’re a sole trader the Australian Taxation Office doesn’t have a problem with this. However, I still advise people to separate the two as soon as possible. Why? Well firstly getting your paperwork ready for tax time will take longer if you don’t (and ideally you want the process of getting ready for tax time to be as streamlined and pain-free as possible). Secondly, it makes it much more difficult to know how much money you have personally pumped into the business to get it off the ground and to know how much you have taken out for personal expenses.
2. Keep all receipts
There may be some tax deductions you aren’t aware of – and no-one expects you to know them all. For example, if you’re outdoors a lot as part of running your business the cost of purchasing sunglasses and sunblock may be a tax deduction. If you’re not sure, keep your receipt anyway and run it past your accountant before tax time. Storing your receipts electronically is a great way to go as well. There are also some great apps that can help you with storing receipts and reducing data entry time – be sure to check out Hubdoc and Receipt Bank.
3. Invoice promptly
If you have time after completing a job can you invoice whilst there or straight after? Using mobile software is ideal because you can log in anytime, get your invoice prepared and emailed through then and there. Lack of cashflow is one of the main reasons small businesses don’t survive. So the faster and more regularly you can get that cash coming in, the more likely you are to have money to cover your bills when they become due (and the less reliant you will be on expensive loans and credit cards). Rather than let your invoicing build up into a big job that you dread doing, doing little bits more often means less stress and better cashflow. If you’re having trouble with clients paying you on time, I prepared this infographic: Top 6 Tips – Keeping on Top of Customer Payments
If you’re looking for easy to use accounting software, Xero is popular with tradies and you can try a free 30 day trial here. It works well with the above 2 mentioned receipt apps Receipt Bank and Hub Doc as well.
Sharing some of my favourite (and essential) resources and tools that I use as a small business owner in Australia.
General Business
Australian Taxation Office – information on everything from record-keeping, GST, super, tax, employees and everything in between (recommend subscribing to the Small Business Newsroom)
Return To Work SA – worker’s compensation information including whether you need to register and how to go about paying and lodging
Business.gov.au – information, links and guides on starting a business, running a business or exiting a business
ABN Lookup – to check if other businesses you are dealing with have an ABN and if they’re registered for GST
Grant Assist – information on grants available to South Australian small business owners
Workshops and Events
Eventbrite – Find workshops and networking events in your local area
Inspiration
Small Business Secrets – TV show on SBS. Interviews with various types of business owners around Australia.
(Confession: I’ve spent way too many hours on a quiet Sunday morning up
binge-watching recordings of this under a rug with a cup of coffee before anyone else
gets up. It’s an inspiring start to the day but then I find it hard to snap out of business
mode for the rest of the day…watch at your own risk).
“We started Xero to change the game for small business. Xero is now one of the fastest growing Software as a Service companies globally. We lead the New Zealand, Australian, and United Kingdom cloud accounting markets, employing a world-class team of more than 1,400 people in 20 offices worldwide. Our beautiful cloud-based accounting software connects people with the right numbers anytime, anywhere, on any device.” ReceiptBank – popular record-keeping automation software that can be integrated with your accounting software
“Receipt Bank helps small to medium-sized businesses, sole traders, and individuals save valuable hours by pulling information from receipts and invoices quickly, accurately, and efficiently.”
I’m always on the lookout for ways small business owners can increase their profits or remove stress. It doesn’t have to be ground-breaking – big or small it all adds up. As Gary Vaynerchuk says “1 is greater than 0”. I love that saying by the way…. when you feel like what you’re doing isn’t enough or your business isn’t where you want it to be, it gives you reassurance to keep going.
So here are my 3 money tips for salon owners.
Gift certificates
Do you track the gift certificates you give out? Not tracking them leaves you open to fraud. Tracking them gives you an opportunity to help your clients out if they lose a voucher – you can easily confirm the date, amount and client name.
You can manually track them by giving each one a unique number and noting the number and details in a notebook or spreadsheet. Even better, track them in your salon software. Using your software makes it easy to find valuable information – such as which services are most commonly purchased using gift vouchers.
Discounts
If you give discounts, do you know how much they’re costing your salon? Do you have guidelines for yourself and your staff as to how much is acceptable or is it dependant on how generous you’re feeling that day? You might think you’re only missing out on a couple of hundred dollars a year, but in reality it could be a lot more. If you do your usual amazing job with these clients, do you think they would mind if you stopped giving discounts? Start keeping track for a set period of time – say 3 months. Times this figure by 4 to see how much you could be out of pocket over the course of a year. Could this money be better spent on marketing to bring new clients in the door or on training a staff member up in a new service offering?
Online bookings
Let clients make their own bookings using online scheduling software, so that you and your staff spend less time running back and forth to the phone. A common way to manage online bookings is to have your calendar linked to a booking button on your website or business Facebook page. I interviewed salon owner Silvana of Silvana’s Beauty Salon recently – she uses Timely appointment scheduling software. Using this software for her online bookings has resulted in an increase in business. It’s a win-win situation for both her and her clients. Businesses that aren’t embracing automation risk being left behind and are missing out on opportunities to save time and money. You can read the interview here: Timely Software – A Salon Owner’s Perspective
One of my favourite business books is called The Naked Salon by Lisa Conway. Salon owners – if you have a chance to get your hands on a copy, you won’t regret it – whether you’re just starting out or have been in business for years.
For more information on Timely online appointment scheduling software, you can find their website here. The website also has a great blog with salon owner interviews, tips and industry news.
So this is a subject that I feel strongly about. Something I’ve had the misfortune of experiencing recently.
I have a couple of questions worth thinking about.
If your laptop was stolen, what would be the impact on your clients? What would be the impact on you personally and your business?
Would you lose all your marketing materials, invoices, expensive promotional photos, business plans, written procedures, client testimonials, eBooks, training materials?
Would your client’s confidential information be released out into the big wide world? What would your client’s reaction be? Would your business even recover from that?
Would you lose personal photos that you never got around to printing?
If your laptop gets stolen you don’t, unfortunately, get to choose the day it’s going to happen. You don’t get to say “well I think my laptop might disappear into the hands of strangers tomorrow so tonight I’ll run a backup”.
Backing-up data daily has been a part of my routine from day 1 of working for a hire company here in Adelaide many years ago. They ran a tight ship and I’m glad for that great foundation right from the beginning.
Things to do today:
Buy a couple of USB’s. Label them. Make a copy of everything on your laptop regularly. Put the USB’s somewhere safe (taking a copy off-site means you still have a copy if you get fire or water damage in your office).
Consider backing up to the cloud as well.
Run a search in File Explorer for “password”. Have you got documents that contain passwords for you or your clients? Change the word “password” to something else.
It goes without saying you shouldn’t have a document actually called “passwords’!
Log into all your websites that require a password. So emails, accounting software, online banking etc. Ensure that none of the passwords are stored. I know it’s a right pain having to remember every different password (but I still hope you’re not using one password for everything, right?).
Set up a password for initial access to your iPad and laptop, so that it’s difficult to even get past that first login screen.
Lock-up filing cabinets and paper shredders are a must if you have confidential client information in your office.
If you’re like me you may be security conscious when going away for the weekend and you probably also make sure you don’t leave technology in the car when you run into the shops, but what I didn’t realise was just how common home and office break-ins are during broad daylight. School pick-up time is a common one! Not a nice experience for anyone.
Please back-up, lock-up and password protect.
Happy bookkeeping…
Sarina
P.S. I often share small business tips on Facebook and Instagram – just search for Festival Bookkeeping. Look forward to seeing you there.
You don’t have to spend hours learning something new in order to make the most of technology. In this video I’m sharing 10 really easy ways that you can take advantage of technology (with the minimum of time investment). These tips will reduce hours spent on admin and take your professionalism up a notch.
The savvy bookkeeping blog 