How much does your time cost?
When you’re a sole trader running a small business, your time is your most valuable resource. Whilst it is possible to hire employees as a sole trader, mostly you’re working alone. That means you’re not only the business owner, you’re also the bookkeeper, admin assistant, sales representative, and tea brewer… the list goes on.
You can make small changes in your business to manage your most valuable resource more effectively.
Preparing for self assessment really really reallyyyyy doesn’t have to be a stress.
As a sole trader, it’s almost more important to prepare ahead of time for your tax liabilities, because you’re footing the bill of these expenses yourself – there’s no separation of business and personal.
It can be hard when you’re waiting on payments from customers and clients to pay the tax you owe on your business profit.
If preparation for your self assessment tax return used up too much of your time, felt like a mad rush at the last minute, or relied too heavily on finding paperwork, just one small adjustment in your business can make a huge difference – 1 tap.
1tap is an app for sole traders created by the people at Receiptbank, to help you automatically upload receipts and invoices and stay on top of your bookkeeping.
Say goodbye to the shoebox receipt life
We value honesty at Golding, it’s one of the values we share in common with our best clients, and one of our promises to new ones. No fluff, no jargon, no BS.
Take a moment to be honest with yourself – no BSing. Are you:
- Still rummaging through a shoebox of receipts once a year?
- Taking a secondary rummage through your glove compartment for the on-the-go expenses you might have forgotten to put in the box?
- Feeling like you can’t ever throw anything away.
- Trying to make sense of expenses you can’t remember?
- Hoping your accountant can make sense of it?
- A bit fed up, actually.
The first step is admitting that it’s frustrating every year, and that your time could be better spent. And hey – it’s okay. You’re definitely not the only business owner in the world in this position.
The good news is that you can absolutely make life easier for yourself, today (literally right now), by watching the video below and signing up with 1tap.
Don’t feel like accounting technology is exclusive to limited companies. Although you may have a simpler deal, you can still take advantage of the same kind of technology limited company business owners are using to stay on top of cashflow.
“It automates of one of the most tedious parts of bookkeeping”
This is why our Practice Manager, Mike, is always recommending 1tap and Receiptbank to our clients. None of our clients have ever gone back to the shoebox way of life.
Once they experience how easy it is to keep a digital record of expenses throughout the year, and how seamless it makes the self assessment process, they’re converted.
If you want to talk to us about automating one of the most tedious parts of bookkeeping, give us a shout!