Basic Bookkeeping – What do I need to know?

Basic Bookkeeping – What do I need to know?

28 March 2018

Sarah Johnson works for Sheffield-based accountancy firm, Hawsons, where she has helped hundreds of businesses succeed through good fiscal management during her 25-year career.

In the role of Manager within the Business Services Department, Sarah and her colleagues work with newly formed and small businesses, supporting them with basic bookkeeping, management of their accounts, Corporation Tax and VAT.

The wonderful world of finance can seem incredibly complex to people when they are first starting out with a new enterprise. That’s why Business Sheffield work with highly knowledgeable professionals like Sarah, to deliver free workshops for people like you, who want to learn the basics needed to set up and run a profitable business.

Sarah Johnson on the three basic steps to business accounting

Good bookkeeping, profit and loss projections and general fiscal management for small businesses can be mind-blowing. It is such a crucial part of setting up a successful business and yet it can often fall very much outside of a person’s comfort zone. That is why we work with Business Sheffield to deliver ‘basic bookkeeping workshops’ for people like you.

Like the rest of the workshops in the Business Sheffield support programme, ‘Basic Bookkeeping’ is completely free for start-ups or people who are thinking about starting up a business in Sheffield. It’s a very supportive environment and quite intimate – where we work with small groups of around 15 people and support them through three fundamental steps to managing their business accounts. It’s a very practical workshop and by the end of it, you’ll learn how to:

  1. Do your own basic bookkeeping (learn about the ‘cloud-based’ services available, what documents you need to keep for your records and how long for).

  2. Use the Profit and Loss and Balance Sheets to produce a meaningful set of accounts (simple PnL production and analysis to transform the way you manage your accounts).

  3. Manage cash flow (perhaps the biggest downfall for a business just starting out is ensuring that you don’t draw out too much in your set up stage and that you’re on top of your longer-term projections; we can help you get this right!).

Over the years we have worked with all sorts of businesses; from landscape gardeners to retailers, to newly formed tech-based businesses. Although their businesses are unique – they all face the same challenges when it comes to managing their own finances and working well with Tax Authorities such as HMRC – that’s where we can help!

To book onto the next ‘Basic Bookkeeping’ session with Business Sheffield and benefit from the experience of professionals like Sarah, please visit http://www.welcometosheffield.co.uk/visit-searchresults/product/831671 and secure your free space now.

 

Business Sheffield delivers the Launchpad Service in partnership with Sheffield City Region Growth Hub.   The Launchpad project is supported financially by the European Union and has attracted £2,358,962 in investment from the European Regional Development Fund as part of Europe’s support for the region’s economic growth.