If you’re a small business owner, chances are your work-life balance is unbalanced! Almost 80% of small business owners revealed in recent research that they work too much.
Of those questioned, 20% said they worked more than 60 hours a week on their business. While it may sound like the hours you work reflect your business success, that’s often further from the truth.
In these times of uncertainty in the wake of Covid-19, it might feel necessary to do all the administrative tasks in your small business. But using the services of a professional, such as an accountant, can help you save time, waste less energy and make fewer mistakes.
Recent health studies have shown that working too much is linked to a raft of problems, including depression, sleep disorders, memory loss and heart disease.
As a result, the exhaustion that comes from trying to do everything can lead to genuine errors. In the end, it could cost you if you make mistakes with HMRC or Companies House filings due to tiredness.
Here at Concept Accountancy, we have decades of combined experience in accounts and bookkeeping. We help more than 300 businesses across Newcastle, Northumberland, County Durham and beyond.
With so much experience, you can be confident when asking us to take care of your financial matters. And we don’t just ensure you are compliant with tax authorities; we can help streamline your business.
By implementing automation, you can allow technology to take care of other tasks that take you away from your work.
One of the areas of cash flow problems for businesses is getting behind with invoicing. As well as the undue stress it creates if cash isn’t flowing in, having to wait longer than expected because your invoicing is weeks behind schedule adds extra pressure.
Using technology means that while you are working on your business, software can email reoccurring invoices, helping your cash flow situation.
Technology doesn’t just save you time; it can streamline your business finance, too. Keeping track of all your receipts, invoices and remittance paperwork can be a headache. But we like to help our clients by introducing great technological solutions.
If your idea of keeping track of receipts is to carry a bin bag, you’re not only likely to have problems – it will cost you more in bookkeeping fees. We can help you implement software such as AutoEntry and Receipt Bank. Using clever apps, you can take pictures of your receipts that automatically upload them to your digital filing system.
As a small business owner needs to be flexible, this software allows you to keep track of your expenditure while you’re out of the office. All you need is a smartphone!
HMRC now accepts electronic invoices and statements as it heads to the Making Tax Digital deadline, so switching now makes a lot of sense.
Training for work-life balance
Before you think we’re heading to pick up a yoga mat, our training is about taking practical action!
We can advise you about how to set up your electronic bookkeeping and accountancy systems. Or, if you prefer, we can do it all for you, so it’s ready for you to start working.
Getting your business finance in order will give you a lot of peace of mind, and it will also help you improve your work-life balance. Rather than spending weekends catching up with accounts and bookkeeping, you can spend time enjoying family time and hobbies.
If you need help with your business finances and your work-life balance, contact us today for more information.