Summer Holiday Accounting Tips for SME’s

If you’re a small or medium-sized business owner, there’s a good chance that you haven’t taken a holiday for some time. However, with research revealing the increasing benefits of maintaining a good work-life balance for mental health and productivity levels, it’s possible you may decide to take a much-needed break.

Below are some tips for how to keep things ticking over while you’re away:

• Preparation is everything – Develop a set of tried and tested systems that staff can follow in your absence. This may mean some forward planning, but will ensure that key tasks such as cash handling, salary payments and banking continue to run smoothly. Writing down clear and concise instructions can prevent misunderstandings and provide added peace of mind for whoever is left in charge.

• Delegate to accumulate – Learning to hand over the reigns to a stand-in manager or accountant is one way to ensure you don’t have a nervous breakdown or overlook key aspects of the business such as the books. What’s more, it’ll free you up to think about the future and mean things don’t grind to a halt in future if you’re ill or have to leave town unexpectedly.

• Use cloud accounting for back office functions – If you can’t afford to hire a full-time accountant, but would like to keep the admin side of things ticking over, consider subscribing to a #CloudAccounting service. Not only can you access this from virtually anywhere, but it may help you to automate routine tasks. That way, things won’t mount up in your in-tray for you to deal with when you get back.

Have a wonderful holiday! Charge you batteries for next business period after break. I can help you to run your business smoothly even during your holiday, hence do not hesitate to contact me: