Good habits to set yourself in the New Year
Happy New Year of 2025!
To start off this year, we’ve collated a few tips for you to set those New Year goals for your business to ensure it runs efficiently and effectively.
By setting up good routines for the year, you allow yourself a sense of control, focus, organisation, and productivity surrounding your business. Once these processes are implemented and followed, it becomes a habit which makes everything run so much smoother – you’ll thank yourself.
“Give me six hours to chop down a tree and I will spend the first four sharpening the axe.” – Abraham Lincoln
Our top tips for bookkeeping resolutions include:
- Set yourself some goals – whether it be a process you want to implement for your business, or to reach a specific target. Having these clearly laid out can help you work toward them throughout the year.
- Log in daily to your Xero file to reconcile the previous day’s transactions. This ensures your file is up to date, and the consistency means that you’ll avoid a huge backlog of outstanding transactions dating back weeks, or months. It also means you’ll get to spend less time on it when you do it daily, as opposed to sitting down for hours working back through it all. It’s more likely you can remember what you spent money on 2 days ago, as opposed to 2 months ago.
- Setting up good data hygiene practices is crucial to ensure data accuracy, consistency, and usability. This means getting rid of duplicate records, avoiding missing or partial data, and keeping consistent data formats. Poor data hygiene can lead to inefficient analysis and make business decisions harder.
- Review chart of accounts, especially ensuring that it’s set up correctly, so you can get valuable insights to your financial position
- Keep your receipts – you’ll thank yourself later when it comes to tax time
- Setting a budget allows you to keep track of your money, and help you make informed financial decisions to stay on track. This can also be setup inside Xero where you can report your transactions and generate a report to check how you’re going
- If you’re finding you’re struggling with your bookkeeping speak to a professional to ensure your file is setup properly and learn how you most efficiently process the work.
- Get training if you want to upskill yourself with your accounts. You’re never too old to learn something new. At Tashly Consulting, we offer a variety of training courses (ranging from basic to advanced) if you’re not too sure where to start.
As with all New Years resolutions, keeping to your goals and setting habits is all about your mindset and intention. Sometimes, setting too many goals can feel overwhelming – so make sure to pick and choose what you believe is most relevant to you. Keeping yourself accountable, being able to forgive yourself, and allowing for flexibility is also so important to keeping yourself on track.
At Tashly Consulting, we can help you stick to your bookkeeping-related New Year resolutions as we are licensed BAS agents and can assist you with your payroll, BAS, and bookkeeping needs. We offer Bookkeeping Packages and if you need help tidying up your records or have fallen behind in your obligations. We can also provide Adhoc Consultations via zoom meeting, or face to face, for any queries you may have, as well as Xero training if you would prefer to keep your bookkeeping in-house but need help getting started.
Tashly Consulting Xero Bookkeepers Adelaide are Registered BAS Agents #86318001, and we are dedicated to providing seamless, high-quality, transparent bookkeeping services – If you would like any further information please contact us via telephone (08) 8121 4424 or via email to discover how the multi-award-winning team at Tashly Consulting can help you better manage your business bookkeeping.
Tashly Consulting Xero Bookkeepers Adelaide – Not your average Bean Counter!
Disclaimer: All or any advice contained in this blog/newsletter is of a general nature only & may not apply to your individual business circumstances. For specific advice relating to your specific situation, please contact your accountant or other professional adviser for further discussion.
Images by Xero | Edited by @tashlydesign
