7 Reasons Why Your Startup Needs a Bookkeeper
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...
Read MoreHow To Keep Your Bookkeeping Under Control
Being organised and having your bookkeeping under control is important for all aspects of your cash flow management. Whether or not you have a cloud-based accounting system, there is still always plenty of paperwork that needs maintaining. Therefore, it is imperative that you ensure that your online and offline systems are up to date. As the end of financial year is fast approaching in Australia, it is time you got everything in order. Here are some of our top tips to make sure that happens and enable you to get your bookkeeping under control. Organise your storage Filing cabinets, or at the very least a set of three ring binders, will come in handy for most of your physical storage needs. While today’s offices are leaning towards a paperless theme, most companies find that there is still the need to have some paper stored, whether receipts, invoices, statements or reports. If you do scan things like petty cash receipts, then it is important that your online filing system is arranged for easy access, if necessary. You must keep all of your business information for five years to please the minimum Australian Tax Office requirements, after that time the records...
Read More7 Signs of a Good Bookkeeper
A good bookkeeper is worth their weight in gold. While there seems to be no shortage of bookkeepers the world over, finding one that actually understands your company or even your niche, can be easier said than done. Here are seven signs indicating that your bookkeeper is indeed a ‘keeper’. 1. Up-to-date training or accreditation Ideally, your bookkeeper of choice should have some bookkeeper or accounting training. It is particularly helpful if they are a BAS Agent as well so they can correctly assess your GST and prepare your BAS accurately and in a timely fashion. 2. Relevant bookkeeping experience While training is good, experience in the role is even better. If you are basing your hiring decision on an hourly rate, don’t be so quick to make a decision. A qualified bookkeeper may be able to complete the workload in a fraction of the time and may be cheaper than a less experienced bookkeeper, despite higher hourly rates. 3. An understanding of your business A great bookkeeper is one who understands your business and can help you with more than just simple math. You need a bookkeeper who can ensure the processes you are using are the best...
Read MoreHow to Choose the Right Bookkeeper
As a business owner, you have a lot to keep up with. In addition to creating your products and services, taking care of your customers, and building your reputation, you have to keep up with your revenues and expenses. Keeping your books up-to-date isn’t always easy. In fact, it’s quite time consuming. You have to make certain that every bill that you pay, and every sale that you make, is properly recorded and tracked. There are filings and tax payments to make, as well as important deadlines that come with hefty penalties if you miss them. One of the best ways to lighten your load and gain more time to run and grow your business is to hire a bookkeeper. While you could certainly settle for conducting a local online search and picking the bookkeeper from the list, this isn’t a wise strategy. This is because bookkeepers, like any other professional, each have different areas of expertise and levels of skill, talent and knowledge. Tips to Help You Choose the Right Bookkeeper for Your Business Get Better Advice by Hiring a Bookkeeper that Knows Your Line of Work As a busy business owner, you don’t have a lot of...
Read MoreHave 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...
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"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.
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