Insight into Bookkeeping
In many self managed businesses whether a SME to large bookkeeping data is not correctly recorded and nor produced in real time to assist the businesses to forecast future strategies. Accountants (ACCA, CPA, ACA, CIMA, IFA, ATT, AAT), Assistants and Bookkeepers (IAB) qualified or not make mistakes and produce amended set of statutory accounts due to time constraints to prevent penalties and to hide poor backend bookkeeping protocols, Furthermore this is true across all sectors, for example have a search on any recruitment website or companies and you will find bookkeeping, finance roles.
Solution
Online bookkeeping software that suits your business requirements and liaise with your accountant. The end result must be a set of real time management accounts as well a budget forecast to see the health of your business.
Basic double entry principle must be understood using any online package to reduce the skills and expectation gap.
Source: Reed, Jobsite, Accountancyage