How can I make my accounting more efficient?
April 15, 2023 | 40,00 EUR | answered by Fanni Siebert
Dear Ms. Zellmann,
I am about to start my own business and I am wondering how I can efficiently manage my accounting. So far, I have no experience in this area and I am concerned that I might lose track of my finances.
My company is a small start-up in the online marketing industry and I plan to grow in the coming months. Therefore, it is particularly important for me to establish a solid bookkeeping system from the beginning to keep track of my income and expenses.
I am worried that without professional help, I might make mistakes in my accounting that could lead to issues with the tax authorities. Additionally, I fear that I might spend too much time on accounting and neglect important aspects of my business.
Can you provide me with tips on how to efficiently manage my accounting? Are there any software or tools that could help me with this? What steps should I take as a new entrepreneur to keep my finances in check?
Thank you in advance for your support.
Best regards,
Tatiana Zellmann
Dear Ms. Zellmann,
Thank you for your inquiry regarding the efficient management of your accounting for your start-up in the online marketing sector. It is understandable that you are concerned, especially if you have no experience in this area. However, solid bookkeeping is crucial for the success of your business.
To efficiently manage your accounting, there are some tips that I would like to share with you. First and foremost, I recommend familiarizing yourself with the basic principles of accounting. This includes distinguishing between income and expenses, correctly recording invoices and receipts, and regularly monitoring your financial situation.
Another important step is the use of accounting software. There are numerous programs on the market tailored to the needs of new entrepreneurs. These programs can help you organize your accounting efficiently, avoid errors, and save time. Some of the most well-known providers include Lexware, DATEV, and sevDesk. They offer features such as automatic document management, VAT returns, and individual analysis options.
Furthermore, it is advisable to consult with a tax advisor early on. A professional tax advisor can assist you not only with tax returns but also with optimizing your bookkeeping and complying with tax regulations. They can also provide valuable advice on managing your finances and the tax options available to run your business successfully.
As a new entrepreneur, it is important to regularly update and review your accounting. This way, you can keep track of your financial situation and react to changes promptly. Also, allocate enough time for bookkeeping to avoid time pressure and neglecting important aspects of your business.
I hope these tips will help you efficiently manage your accounting and wish you success in starting your business. If you have any further questions, please feel free to contact me.
Best regards,
Fanni Siebert
