Tired of chasing receipts and reconciling bank statements at the end of the month? Learn simple, practical ways to streamline your bookkeeping, reduce admin, and stay on top of your finances.
If you’re running a small business or managing a property portfolio, you know how quickly receipts, bills, and invoices can pile up. Bookkeeping often ends up being a time-consuming task that gets pushed to the end of the week—or month.
But it doesn’t have to be that way. With the right systems in place, you can simplify your financial admin, reduce errors, and free up time to focus on what really matters.
Here are a few practical ways to streamline your bookkeeping.
1. Automate your bank reconciliation
Connecting your bank feeds to your accounting software means transactions flow in automatically. You can then match them to invoices and bills with just a few clicks. To make things even smoother:
- Set up bank rules for recurring payments
- Use automation to match transactions
- Reconcile regularly to avoid a backlog
2. Keep everything in one place
Instead of storing invoices in your inbox or filing cabinet, upload them directly into your accounting system. This helps you:
- Track due dates
- Avoid missed payments
- Stay on top of cash flow
It also makes things easier at tax time—no more digging through folders or emails.
3. Ditch the paper trail
Still holding onto paper receipts or manually entering invoice details? It’s time to go digital. Document capture tools let you:
- Snap a photo of a receipt on your phone
- Forward emailed invoices straight into your accounting system
- Automatically extract key details like supplier, amount, and due date
If you’re using Xero, the built-in tool Hubdoc is a great option. It reads your documents and creates draft transactions, attaching the original file for easy reference. It’s included in most Xero plans.
4. Use your reports
Once your data is tidy, your reports become more useful. You can quickly see:
- Where your money’s going
- Which jobs or properties are performing best
- How much GST you owe, if applicable
Bookkeeping doesn’t have to be a burden. With the right tools and a few smart habits, you can stay organised, cut down on admin, and make more informed financial decisions. Whether you’re using Xero with Hubdoc or another platform, the key is to automate wherever possible, keep your records centralised, and review your setup regularly to ensure everything runs smoothly.
Need help reviewing your current process or choosing the right tools? We’re here to help.
About Pathfinder Solutions
Pathfinder Solutions advisory team members have either owned or managed businesses, or are investors themselves, so we know first-hand the challenges you face in your world.
Sure we’re Accountants, but the best solutions in business come from focusing on more than just the numbers. Our real-world business experience delivers just that.
