Have You Chosen Your Bookkeeper Yet?

Posted by on May 4, 2016 in Blog

Have You Chosen Your Bookkeeper Yet?

In barely two months’ time, the end of the financial year will be upon us, once again. Even though this deadline rolls around every June 30th, most of us still haven’t been keeping up with our books.

It can take a bit of time to get your accounts in order, but end of the financial year deadlines really aren’t flexible. You can’t put off calculating and lodging your BAS, IAS and Payment Summery Statements for the year, as well as calculating and paying superannuation and other fees and taxes.

That’s why you should really take the time to find a bookkeeper now, before your paperwork gets further behind.

The Benefits of Hiring a Professional Bookkeeper

The benefits of hiring a bookkeeper go far beyond mere data entry and reconciliation of your accounts. By taking over your tedious paperwork, they literally unshackle you from your desk so that you have more time for important things such as dazzling your clients or being with your loved ones.

In addition to saving you time, a bookkeeper can remove a lot of the hassle associated with keeping up with your accounts. They can create some simple systems to better track and manage your money, such as setting up a budget to plan and track your spending.

Having a bookkeeper on board is especially helpful if you’ve never quite got the hang of using your accounting software program. Not really certain where you stand with your accounts and how much you owe or who owes you what? A good bookkeeper will eliminate those worries and keep up with all of that for you.

You can even empower your bookkeeper to take care of your Payroll, pay your bills and chase down those late paying clients for you so that you never have to deal with these particular aspects of running your business again. By keeping up with your accounts and preparing summaries and other statements, a good bookkeeper will make your accountant’s job a bit easier when it comes tax time, which will save you additional time and money.

Tips for Choosing a Bookkeeper for Your Business

Make certain your bookkeeper is BAS Registered. Your bookkeeper is required to be a BAS Registered Agent if they will be handling your BAS or providing other financial advice. Check to see if your bookkeeper is registered by visiting the Tax Practioners Board:  http://www.tpb.gov.au/tpb/agent_register.aspx.

Users can search the register by name, or registration number. You can also ask to see their Agent Certificate, which should have their BAS registration number.

Choose a bookkeeper who is properly trained in the Xero accounting software platform. Xero is the one accounting software program that makes life far simpler for everyone: you, your bookkeeper, your accountant, and other professionals. This is because Xero’s interface is intuitive, compatible with 3rd party software, and all of your information is encrypted and stored in the cloud. By choosing a bookkeeper that’s a Xero Certified Provider, you can rest assured that they have the training and skills necessary to do the job in a safe and secure manner.

Opt for someone that’s familiar with your line of work. Each industry has its own quirks and unique situations, which affect reporting requirements, deductions, and strategic financial planning. Even the size of the company can affect the way that you do business, so choose a bookkeeper that’s familiar with your size and type of business so that you get better service and advice!

At the Accounts Studio, we specialise in helping small to medium sized businesses get on top of their finances so that they can keep up with requirements as well as grow their business. We especially understand the challenges that creatives face in starting their business and what steps they need to take to keep their businesses running smoothly in the long term. Since we’re BAS registered and Xero certified, our clients can trust that they are in good, qualified hands.

Contact us today to learn how the Accounts Studio can help you to get your books back on track and ready for the end of the financial year!