10 TIPS IF THE BOOKKEEPING GETS OUT OF CONTROL

So the paperwork in the in tray is bigger than the tray itself and the thought of tackling it makes you more stressed - here's some tips on how to tame the beast.

DON'T PANIC

Accept that you can't control everything that goes on in your business and at times some of the responsibilities will be let go a bit.

WORK OUT WHAT NEEDS TO BE FIXED FIRST

Is it a case of sorting out your unruly in-tray or getting some data entered into your financial records. Taking things on a step by step basis is the best way to tackle any job.

SPEAK TO PEOPLE

It's best to speak to everyone you need to (employees, contractors, debtors and creditors) and let them know that you need time to get things sorted out. They should be more understanding if you speak to them rather than not making contact.

GO EASY ON YOURSELF

As a small business owner it can be difficult to separate business from personal (I know, it's a constant struggle for me). If things get a bit out of hand then don't take it personally but realise it is part of the journey of being in a small business.

GET HELP

Whether that be someone to get the paperwork up to date or someone to take over a part of your role to allow you time to focus on what you need to focus on, call on help if needed. A bookeeper, business coach or counsellor can often put things into perspective for you when it all seems to be going south.

GET THAT PAPERWORK IN ORDER

Get all of the receipts and invoices together and get them into some record, ideally in calendar order.

GOT EMPLOYEES?

If you've got payroll and super, ensure you've got paper copies as well as electronic records of all payslips and super contributions made.

CHECK THE BANK

Bank statements are also critical - contact your bank and arrange duplicate copies if you need them.

WAS THERE ANYTHING ELSE?

Consider your credit cards and if you've possibly purchased something that is business or work related on the credit card, or paid for in cash with the receipt crumpled in your wallet or purse, make sure you have that.

RECORD EVERYTHING

For those of you with electronic accounting software like MYOB, make sure it's up to date and as correct as you know how to get it.