It can often be difficult at a later date to remember what was done or agreed. You will save yourself a lot of work in the future if you keep your accounts and office work up-to-date. The Bookkeeping Act also imposes specific requirements concerning updating.
- Make sure you set aside time for daily office work. It may be appropriate to register agreements and time records on an ongoing basis during the working day. Cash sales must be recorded on an ongoing basis.
- Agree with your accountant how often the accounts will be updated and when vouchers are to be submitted. You should normally update your accounts at least every other month.