Small business owners should spend no more than 30 minutes a week doing their accounts.
Maximum.
Not a second more.
That time-span should include all financial duties, including bookkeeping, payroll, VAT, receipts, cash flow analysis, monthly reports, tax returns, year-end accounts...the lot.
Small firms typically spend aeons on their books. Evenings are ruined. Weekends get lost.
For many sole traders and entrepreneurs it is a way of life - staring at books, filling out spreadsheets, eating up time that they could be spending with their family or friends.
So how can all this time taken be shrunk to half an hour a week?
To download the How to do your accounts in 30 minutes a week by KPMG Small Business Accounting, click here
