Simple Tips for Bookkeeping for Creatives in London

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Let’s face it – creatives are blessed with amazing ideas and they are always passionate about subjects that interest them and bookkeeping is certainly not the topic they would like to discuss. While creatives are more inclined towards their favourite topics they do have to consider doing the bookkeeping especially if they are making a living out of their writing. This is important because if you are not keeping your books maintained then you might have to suffer penalties and other legal issues when you make income from your writing. However, there are certain ways in which creatives can handle their bookkeeping process on their own.

Keep Your Receipts –

Creatives are more bothered about their subjects and the topics they write about and therefore they usually forget about the things they purchase and how they spend money on their business. However, to start with bookkeeping creatives have to make sure that they do keep receipts of everything they purchase to track all their purchase activity. You can also make note of the receipt to ensure that you are not forgetting something at the last moment. You can keep receipts of office supplies, materials, vehicle expenses and office space rent and so on.

Maintain Records –

It is important that at the end of the day you maintain the record of all the things you did and the money you spent for the day. This is important because if you’re not doing this on a daily basis then you might just miss out adding the information later and the information will keep piling up until you lose track of it. It is therefore important that you take some time out towards the end of the day to update your records.

Plan Your Budget –

It is critical that you plan your finance in advance so that you never have to make last moment adjustments. Creatives are quite busy with their own work and therefore they tend to miss out on other priorities and focus on it at the last moment. With proper planning creatives can plan their budget well in advance and ensure that they are not paying late fees or penalties and they are sure about how they will spend their money.

Hire an Accountant –

You can easily search for an accountant for bookkeeping for creatives in London that can provide help with their expertise and experience and ensure that you never have to worry about your finances and taxes.

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