Taking care of your bookkeeping in bite-sized chunks has advantages other than reducing your blood pressure - it will give you ample time to get answers to any questions you have or address any problems you run into. Let’s say it takes you 36 hours to get everything done before you file your Self Assessment - split that work out over the year and it equates to only about 45 minutes per week. The cycle repeats until the very mention of accounting makes you run for cover or reach for the nearest bottle of strong liquor.īookkeeping shouldn’t be a once-yearly task though - it should be a regular part of your business admin. You spend days tackling the backlog and, when you finally finish, you hate bookkeeping even more than when you first started. You procrastinate until you can procrastinate no more and you actually have to do it (usually shortly before the Self Assessment deadline), by which time it’s pure torture. Paperwork stacks up, and the task becomes even more daunting, so you put it off more. It goes like this you hate bookkeeping so you put it off.
Let's address the accounting spiral of doom. You became self-employed to spend time doing what you love - not wrestling with spreadsheets. But, like it or not, accounting is important as a way to understand your business finances and a legal requirement! Thankfully there’s a simple way to not hate bookkeeping. It’s confusing, it’s boring, and it’s not what you signed up for. Most of the freelancers we know would rather gnaw off their left arm than do their bookkeeping - and with good reason.
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