7 Reasons Why Your Startup Needs a Bookkeeper

by | Aug 16, 2017

Running a business or creating a startup is difficult – there is no easy way to say it. However, starting a business, especially when you are on a tight budget, is even harder. As a creative or entrepreneur, you are trying to do the jobs of many employees. You are marketer, customer service adviser, sales manager, bookkeeper, administrator and more. And when you are not doing those things, you are trying to be innovative to stand out from your competitors and make a real mark in the industry. There is only so much time in a day, right?

Handing over your financials to a bookkeeper will provide many advantages to you and your business. Here are seven great reasons why you need to hire a bookkeeper for your startup.

More perspective

You are being torn in numerous directions – seemingly all at once. Often it can be easier to hire a bookkeeper to focus on your financials. They are professionals and understand what needs to be done to develop and grow your business. They can offer a second perspective on how things are going just by assessing the numbers. A business without a profit is just a hobby after all.

Assistance at tax time

As entrepreneurs struggle to get their paperwork in order to submit at tax time, many turn to bookkeepers for their help. Bookkeepers know exactly what needs to be done and, best of all, how to do it. They are experts in matters concerning the Australian Taxation Office (ATO) and understand how to prepare the paperwork so it is tidy and professional, should the ATO have any questions.

Maintain your focus on the business

As a startup, you don’t want to take a whole week off from the business just to get your financial paperwork in order. Why not just leave it to the professionals? By doing so, you can continue to source customers and manage the business, allowing your bookkeeper to focus on the financials. Micromanaging every aspect can be very stressful, therefore it makes sense to outsource at least one task to maintain your effectiveness and focus on the core business.

Save you money

While a bookkeeper can help you get your end of financial year paperwork in order and advise on expenses, they can also save you money in the long-term. As many bookkeepers work from their own space, you don’t have to furnish an office for them to use. The ability to hire a quality bookkeeper at an affordable price is a huge benefit to startups.

Pay your invoices on time

Your bookkeeper can help you ensure that you pay your bills on time. It is very easy to misread your invoices or forget about them altogether if your mind is focused elsewhere. Late payments can have a huge effect on your business, not to mention your reputation and credibility. A bookkeeper will help you manage your books and ensure the bills are paid in a timely fashion.

No requirement to learn a new skill

Bookkeeping is a skill and to do it right, you will need to at least have a basic knowledge of the financials. If the thought of sitting through lessons on accounts payable, accounts receivable, budgets and taxes do not interest you, then you can leave it to a professional. They have already undertaken the training and will ensure that your bookkeeping is error-free and up to date each month.

Leave some time for yourself

It is likely that you are already burning the midnight oil to get everything done. Hand over the bookkeeping to someone who has the time and the knowledge to do it. That way you will have more time for you. A tired and anxious entrepreneur cannot function at their best. Remember to take time off for your personal needs to relax and catch-up with friends, old and new.

Want to find out more?

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What our clients are saying...

I got to know Sophie through my previous employer where Sophie still handles the bookkeeping side of things. While we worked together I have found Sophie very accurate, punctual and very pleasant to work with. And recommend her highly.

Dianna Holwerda
Client Service Manager, John Sergeant Associates Pty Ltd

2017-10-13T09:55:05+00:00

Dianna Holwerda
Client Service Manager, John Sergeant Associates Pty Ltd

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I was recommended to The Accounts Studio at a networking event and have been working with them for the last 2 years. The team have all been very approachable and available – two things essential when it comes to understanding your accounts! I now no longer have the stress every three months of getting my BAS correct and even better I have a clear understanding of where my company is financially! Thanks Sophie and TAS team!

Eleni Mitakos
Galmatic Pty Ltd

2017-10-13T04:16:02+00:00

Eleni Mitakos
Galmatic Pty Ltd

I was recommended to The Accounts Studio at a networking event and have been working with them for the last 2 years. The team have all been very approachable and available – two things essential when it comes to understanding your accounts! I now no longer have the stress every three months of getting my BAS correct and even better I have a clear understanding of where my company is financially! Thanks Sophie and TAS team!
I have really enjoyed working with you guys and look forward to a successful 2013. From the moment we started with TAS I have seen value. The figures are accurate, you are accessible (and approachable!) and most of all – you are cool people!

Chris Du Plessis
Managing Director, Origin Meat Pty Ltd

2017-10-13T04:20:03+00:00

Chris Du Plessis
Managing Director, Origin Meat Pty Ltd

I have really enjoyed working with you guys and look forward to a successful 2013. From the moment we started with TAS I have seen value. The figures are accurate, you are accessible (and approachable!) and most of all – you are cool people!
"Sophie is so professional – careful, attentive and punctual – she has made managing my accounts not just easier, but a whole lot less stressful"

Fast Ed
TV Chef from Better Homes & Gardens

2017-10-13T04:23:15+00:00

Fast Ed
TV Chef from Better Homes & Gardens

"Sophie is so professional – careful, attentive and punctual – she has made managing my accounts not just easier, but a whole lot less stressful"
Sophie has been a tremendous support and guiding light for my business. I have continually succeeded when acting on her advice and by using her services. Her products are fantastic and her ideas and accuracy is out of this world. I would never hesitate to recommend Sophie’s services and I would invite anyone to contact me for a referral.

Belinda Grundy
GM, Property Styling Online and BG Property Styling

2017-10-13T09:21:50+00:00

Belinda Grundy
GM, Property Styling Online and BG Property Styling

Sophie has been a tremendous support and guiding light for my business. I have continually succeeded when acting on her advice and by using her services. Her products are fantastic and her ideas and accuracy is out of this world. I would never hesitate to recommend Sophie’s services and I would invite anyone to contact me for a referral.
Sophie has the spirit of the Entrepreneurial Business Owner! Whether she is running a successful single family website, creating a product for small business owners or running her own bookkeeping agency she is always right on track as to what small business needs. If you want to speak to someone who not only knows what business owners are going through-she also does something about it- then don’t miss out, connect with Sophie! She is someone who can not only think outside the square- she has true strategic thinking; which is often spoken about but is rarely truly placed into action.

Sue Heins
Councillor at Warringah Council

2017-10-13T09:25:16+00:00

Sue Heins
Councillor at Warringah Council

Sophie has the spirit of the Entrepreneurial Business Owner! Whether she is running a successful single family website, creating a product for small business owners or running her own bookkeeping agency she is always right on track as to what small business needs. If you want to speak to someone who not only knows what business owners are going through-she also does something about it- then don’t miss out, connect with Sophie! She is someone who can not only think outside the square- she has true strategic thinking; which is often spoken about but is rarely truly placed into action.
Sophie is an amazing business woman. She is able to take the complexities of business and break them into manageable pieces for small and home based business owners to work with. She’s clever, creative, supportive and very generous. She’s the reason that so many small businesses are doing so well. If yours is a small or home based business then Sophie is someone you need to know.

Anne Maybus
Writer and Content Creator, Clever Streak

2017-10-13T09:26:35+00:00

Anne Maybus
Writer and Content Creator, Clever Streak

Sophie is an amazing business woman. She is able to take the complexities of business and break them into manageable pieces for small and home based business owners to work with. She’s clever, creative, supportive and very generous. She’s the reason that so many small businesses are doing so well. If yours is a small or home based business then Sophie is someone you need to know.
Sophie is efficient, direct and gets the job done. She responds quickly, keeps me updated and has a way of simplifying things and making my life easier. She is all about efficiency and that’s what makes it great to work with her, I highly recommend her to anyone who wants someone to efficiently look after their books and she is great value for money too.

Adam Dobson
Strategic Resourcing Manager

2017-10-13T09:28:24+00:00

Adam Dobson
Strategic Resourcing Manager

Sophie is efficient, direct and gets the job done. She responds quickly, keeps me updated and has a way of simplifying things and making my life easier. She is all about efficiency and that’s what makes it great to work with her, I highly recommend her to anyone who wants someone to efficiently look after their books and she is great value for money too.
I’d been stalking Sophie for a while since I saw some of the great work she did at Ideas Book. What she’s up to at the SOHO Agency is equally impressive and I’m delighted to have someone working in this space who I feel so confident referring onto others. Keep being brilliant Sophie!

Robert Gerrish
Founder and Director, Flying Solo

2017-10-13T09:30:45+00:00

Robert Gerrish
Founder and Director, Flying Solo

I’d been stalking Sophie for a while since I saw some of the great work she did at Ideas Book. What she’s up to at the SOHO Agency is equally impressive and I’m delighted to have someone working in this space who I feel so confident referring onto others. Keep being brilliant Sophie!
Sophie is an incredibly savvy business owner, for whom I have great respect. She has always been very clear and detailed in her instructions, is always very focused on her business objectives, and displays a business model that you can aspire to as a small business owner. I have no hesitation is recommending her work at The Accounts Studio.

Kristy Smith
Director, Virtual Elves Outsourcing Solutions

2017-10-13T09:30:59+00:00

Kristy Smith
Director, Virtual Elves Outsourcing Solutions

Sophie is an incredibly savvy business owner, for whom I have great respect. She has always been very clear and detailed in her instructions, is always very focused on her business objectives, and displays a business model that you can aspire to as a small business owner. I have no hesitation is recommending her work at The Accounts Studio.