So you buy something for your business. What happens with the receipt?
You probably fall into one of these categories;
1. Forgetful Frank
Receipt? What receipt? It’s probably in the centre console of the car, scrunched up with a discarded piece of chewing gum inside.
2. Scatty Sally
They seek receipts here, they seek receipts there, they seek receipts everywhere!
From bottom of handbags to bulging purses, jeans pockets and in the fluff collector of the tumble dryer… Scatty Sally takes no care of the receipts and spends her pre-tax return period in a tizz looking for them everywhere.
3. Boxy Bobby
Fresh home from the purchase Bobby tosses that receipt into the shoe box in the cupboard. He hand delivers them to his accountant ahead of his tax return. At least they’re all in one place right?
4. Filed Away Freda
Freda sorts her receipts out into a pretty plastic wallet file organised by month. Almost perfect but there’s an easier way.
5. Spreadsheet Simon
Simon’s got his receipts in a file AND a spreadsheet outlining each transaction.
He sends that off by email to his accountant along with the file.
6. Modern Day Melissa
Melissa’s cracked it! She’s a digital diva and knows the power of modern technology to keep all her finances free and easy. She’s also got Insight Finance Solutions on her side so she chats to her expert chartered accountant every month (who is also a mindset coach and has helped Melissa curb her emotional spending habits in the process!).
Melissa uses Xero on her laptop, tablet and phone. As soon as she buys something, she snaps a pic of the receipt and uploads it to Xero. Xero does the rest by reconciling the purchase and adding it to her digital receipt files. All Melissa needs to do is categorise the spending.
She knows exactly where she’s up to and come April 6th she knows EXACTLY what she needs to pay the following January and already has that money saved for the tax return.
EASY. SIMPLE. STRESS FREE.
Be more Melissa! If you want to learn how, why not arrange a chat with Helen or Katie at Insight Finance Solutions and see how we can take the stress out of business finances.