9 Benefits to Outsourcing Your Bookkeeping
Keeping your books up to date is important if you care about your business. Without quality bookkeeping, you won’t know how much cash is coming in or going out. You will have no idea as to whether you are meeting your goals or even running a business successfully. However, the reality is that not everyone enjoys bookkeeping. This is why outsourcing is such a great option for creatives and entrepreneurs. If you are thinking about outsourcing your bookkeeping, it comes with an array of benefits. Maintain Focus on your Business Rather than take time away from your business to do the bookkeeping, you can entrust them to the professionals. Your attention can be spent running the business and ensuring that your customers are 100% happy. It is one less thing to drag you away from what is important – the successful management of your business and the growth of cash flow. Minimise Full-Time Staff Outsourcing your bookkeeping on a regular basis does away with the need to hire a part-time or full-time employee. You just pay for the services you need. You aren’t required to furnish an office or buy additional computers to get the job done. As the majority of...
Read More7 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 More3 Bookkeeping Habits That Are Helpful For Your Business
Bookkeeping is an essential part of running a business or being a creative entrepreneur. How can you possibly know how much you have spent or how much you owe without keeping up to date with your accounts? No matter the size of your business, you must always endeavour to be one step ahead of your expenses. This will help you understand your cash flow at any given time. 1. Choose your software wisely An efficient business needs to get back to basics. Is your bookkeeping system really working in your best interests? It all comes down to the essentials and the choice of software. With so many options out there, it is important that you find the one that meets your requirements. If you have not tried Xero, then you may want to look into it. It offers great flexibility, real-time speed and many integrated add-on solutions. 2. Keep all your receipts and invoices The only way to ensure that your books are accurate is to keep all of your receipts and invoices, especially those cash expenses which can be harder to track. It will enable your records to be as accurate as possible. Your software should be able to...
Read MoreHow Xero Can Save Time, Boost Productivity and Output
It’s been argued by many that the most valuable commodity in business, and Life itself, is time. An increase in productivity and output is the natural result of finding a way to simplify and streamline our systems and make our processes more efficient and effective. Xero is a fully integrated accounting system that makes keeping up with the books a process that’s easier, faster and less prone to error. The following is a list of the top 8 ways that Xero reduces the hassle, stress and drama surrounding the process of keeping up with one’s accounts. This system frees up time so that owners and managers can get back to focusing on what they do best: running their business! Automatic Tracking of Sales, Purchases and Inventory If you are still using older, outdated software to keep up with your books, it’s likely that you have a separate system to track your company’s sales, purchases and inventory. Xero saves you time by automatically tracking these and other integral components of your business. Users can access this data and quickly produce reports and lists, from the same fully integrated dashboard, and at the click of the mouse! Gone are the days...
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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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