Bank Accounts – Your Automatic Bookkeeper

By Lexi Goulden 2 years ago

Using a bank account for every single transaction in your business could save you lots of time and dollars in regards to keeping track of your Books.

By using it every single day the transaction is automatically recorded for you, and can be given to your accountant as is, or easily imported into your Accounting software for easy allocation.

By using cash, it’s not guaranteed you will remember to claim the deduction nor is it guaranteed you will be able to allocate your receipt when it comes to tax time.

So depending on how disciplined you are with your book work using EFTPOS for every business transaction can save you headaches in the long run.

Category:
  Bookkeeping Tips
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