Monthly Archives: August 2013

10 Top Tips to save accounting fees

1.       Time is money 
2.       Use a separate bank account for the business 
3.       Provide a summary of transactions through the business bank account 
4.       Make sure your summary agrees with, or reconciles to, the bank statements 
5.       Use a computer programme that you are comfortable using and are competent to use 
6.       Code transfers between business bank accounts to a “transfer” account 
7.       Avoid complicated transactions, e.g. hire purchase, unless there is a good reason 
8.       If completing your own GST returns provide information to show where your GST figures came from 
9.       Provide advice notes/certificates for interest, dividends and other investment income 
10.   Describe transactions accurately      (contracting income is not “wages”; your booze bill is not “oil”)