Top bookkeeping resolutions for small business owners

Are you struggling to keep your finances in check while running your business? These bookkeeping resolutions can help set you up for a smoother year ahead.

Running a small business can feel like you are juggling many plates, especially when it comes to managing your books. But your finances don’t have to be a source of stress. With a few key resolutions, you can take control of your bookkeeping and focus on what matters, growing your business.

Here are the top bookkeeping resolutions every small business owner should make this year.

1.      Stay on top of your record-keeping

It’s tempting to leave receipts and invoices in a pile for later. But procrastination can lead to missing data, forgotten expenses, and a bigger headache at your year-end.

Tips to stay consistent:

• Dedicate 30 minutes a week to reconciling your transactions.

• Use cloud-based bookkeeping software like Xero or FreeAgent to automate entries.

• Take photos of receipts straight away and upload them to your accounting system weekly

  
  

By maintaining up-to-date records, you’ll have a clearer financial picture and avoid last-minute panic during tax season.

2. Plan for VAT deadlines

Nothing’s worse than scrambling to file a VAT return last minute or getting penalties from HMRC for late submissions.

Steps to stay ahead:

• Mark all tax deadlines on your calendar.

• Use a digital reminder system to alert you a month before due dates.

• Work with a bookkeeper who understands your business and can ensure compliance.

Staying organised with tax deadlines will keep your business in good shape and will reduce your stress.

3. Get cash flow under control

One of the biggest pain points for small business owners is managing cash flow. Peaks and troughs can leave you scrambling to cover expenses during any lean months.

How to stay in control:

• Track income and expenses regularly to spot trends.

• Create a cash reserve to cover at least three months of expenses.

• Use cash flow forecasting tools such as Float to plan for slow periods.

  
  

By mastering cash flow, you’ll feel more confident navigating the financial ups and downs.

4. Embrace bookkeeping software

Spreadsheets are fine, but bookkeeping software saves time, reduces errors, and gives you real-time insights.

Why it’s worth it:

• Automates repetitive tasks like invoicing and expense tracking.

• Integrates with your bank to sync transactions.

• Provides instant access to financial reports for decision-making.

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If you’re unsure which software suits your business, contact me to arrange a chat: https://calendly.com/beebookkeepingandaccounts/coffee-chat

5. Schedule monthly financial reviews

It’s easy to let months go by without properly looking at your financials. But small issues can quickly snowball into big problems.

What to include in a review:

• Compare income and expenses to your budget.

• Check your profit margins.

• Review outstanding invoices and chase payments if necessary.

  
  

Monthly reviews ensure you’re always in control and can allow you to make informed decisions for growth.

6. Prepare for growth

As your business grows, so will its financial complexity. Being prepared now will make the transition easier later.

What to consider:

• Implement scalable systems that grow with your business.

• Work with a bookkeeper or accountant who can handle increased demands.

• Start tracking metrics.

  
  

By planning ahead, you’ll be ready to handle growth without overwhelming yourself.

7. Budget for the future

A solid budget acts as a roadmap for your business finances. It helps you allocate resources, avoid overspending, and save for future goals.

How to build a budget:

• Base it on last year’s financial performance.

• Factor in upcoming expenses, like new hires or equipment upgrades.

• Regularly adjust it as circumstances change.

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Having a budget keeps your finances on track and helps you prioritise what matters most.

8. Delegate to professionals

Trying to do everything yourself can lead to burnout. Delegating bookkeeping tasks to a professional gives you more time to focus on growing your business.

Benefits of hiring a bookkeeper:

• Ensures accuracy in your financial records.

• Provides expert advice on tax savings and compliance.

• Frees up your time to focus on core business activities.

  
  

Are you ready to make 2025 your best year yet?

By adopting these bookkeeping resolutions, you’ll feel more confident and in control of your finances. Whether it’s staying organised, embracing technology, or planning for growth, these changes can make a big difference.

Need help getting started? Book in a call https://calendly.com/beebookkeepingandaccounts/coffee-chat