Indications that You Have a Bad Bookkeeping System

If you have a business, accounting and bookkeeping are probably not part of the core value propositions of your company. However, this does not mean a high-quality accounting system is not important to run your business properly.

Without a reliable back-office to guide and support the decisions you make, your business just cannot execute or operate an effective business strategy.

It does not matter how big your company is. You need to have a reliable back-office by hiring professional bookkeepers Hobart. Today, we’re going to share with you a couple of signs that indicate you’ve got a bad bookkeeping system.

You Fear Tax Season

Nobody loves paying taxes. However, you shouldn’t be scared to do it. If you’ve got a bad bookkeeping system, tax season can be a nightmare. You have probably a bad bookkeeping system if you always end up struggling during tax season.

Aside from the yearly stress of preparing everything on time, enabling your bookkeeping system to fall behind means that your company’s financial picture is also outdated.

You Are Using an Unoptimized Accounting System

Does your business still depend on manual data entry and paper for expense monitoring and reporting? Do you have automation to monitor and allocate everything going in and out of your business? Do you still send paper receipts? Do you pay bills using paper checks?

An old accounting and bookkeeping system puts your company at risk of dealing with inaccuracies and losses because of human error. Aside from that, you are probably spending higher expenses than necessary by missing out on early payment discounts. You’re also probably suffering cash flow issues while waiting for the slow receipt of invoice payments.

Your Back-Office Lacks Balances and Checks

There isn’t any separation of duties or internal controls if your accounting department is you and your bookkeeper.

You risk inefficiencies, mistakes, and errors if you do not have a second set of eyes overseeing the accounting and bookkeeping of your business. Unluckily, most small businesses experience this type of problem. The reason for this is that a company with less than 100 workers experience almost double the fraud-related losses compared to a company with more than 100 workers.

You are Involved in the Bookkeeping

It is your instinct to save money as much as possible as a business owner. Because of this, you might choose to be involved in the bookkeeping process to save money. However, it might cost you more in the long run.

There’s a high possibility that you aren’t doing what you do best if you are spending too much time in the bookkeeping process. You are basically wasting time that you could’ve spent on more important aspects of your company. This includes improving the core value proposition of your company, motivating your employees, making leadership decisions, and much more. If you only spend your time on things that can help you improve your revenue, you can make your company more successful.

It is time to re-evaluate your bookkeeping system if you are doing more than signing the checks.


How to Pick the Right Color for the Rooms in Your Home

If you have been doing a big project at home including fixing the ceiling or walls and ensuring the right insulation is installed, you will most likely need the right color to finish it all up.

Nowadays, it has been a trend to have everything in a one big space. This spacious area often includes not just the living area to cater guests and family but also the kitchen as well as the dining. Unlike before, where it is easy to define an area through the use of walls or physical separators of space, today, color has been taken advantage of to provide a visible yet defined space separator.

So how do you choose the color for each space you want to define?

Color Scheme!

According to architectural color expert Bonnie Krims, it is vital to remember that even if there are so many chips of paint that are available in stores, it is important to remember that the spectrum only comprise of seven colors.

So how can you be a color scheme of your own through this?

Go for three colors that interest you the most through the objects you can easily find at home. You can easily do this through gathering three of your most valued objects that you always want around the most. It can be a scarf you have lying on your sofa, a painting you like that hangs on your wall or an object that you want seen in your living area. Through the use of these three objects, you can easily find three paint strips that match.

The next critical step is to pick your favorite among the three objects as your main color of choice. The other two objects which color you will base of later, will be left for your color of choice when it comes to choosing your curtain color or the shade or tone of your furniture.

You can also pick the right color that will go with the rest of your space through selecting a color on the thee strips you picked. This color can easily be the color choice for our rooms that are adjacent to your living area.

To choose a pop of color that will provide your space a touch of personality, pick a fourth shade to base the accent color for your space. You can do this through incorporating it using pillows on your couch or a big piece of artwork.

A color scheme is difficult to choose when you do not have ample knowledge and basic theory on colors however you can easily get a good idea through the help of experts related to architecture or anything related to home building. Color experts or professional painters provide a good advice when it comes to giving your home a good upgrade. Whether you want your space repainted or you are on an ongoing removing project and need the right color scheme to pull everything together, you can get the help you need through experts from Check out the website to get more details!