New Year’s resolutions for your freelance bookkeeping

The festive break is an ideal time to take stock and think about how you can improve your freelance bookkeeping in 2017.

Here are a couple of resolution ideas to help get you started:

Upgrade to advanced accountancy software

Resolve to make your bookkeeping less time-consuming and more reactive with advanced accountancy software, like Xero.

Manually plugging data into various spreadsheets is a distraction from your primary service. It can also lead to oversights that might cost you money.

But, with advanced accountancy software you can record your invoice payments and outgoings automatically, enabling you to see a cash flow overview in real-time.

You can also synchronise your financial record with a specialist freelancer accountant, who will then be able to give you timely financial advice that can help to optimise your profitability.

Create a schedule for invoice reminders

Generating, issuing, tracking and chasing invoices is a time-intensive yet necessary process.

Creating a clearly defined schedule for dispatching invoice reminders, rather than carrying it out on an ad hoc basis, can help you manage your time more effectively.

Advanced accountancy software can make the process easier still. Bespoke invoice templates can be generated for each client and set for automatic dispatch at regular intervals.

Should a client fail to pay by the given deadline, the software can be set to automatically dispatch a series of reminders and chase the payment on your behalf.

These invoices also give clients convenient options to submit payments digitally.

Use these handy tips to make sure your freelance bookkeeping is set up for success in the new year.

Call on 3 Wise Bears and find out how you can get your freelance enterprise set for 2017.