Whether you’ve just started your own business, or you’ve been in business for a while now, someone, somewhere, has probably told you that you should be using a bookkeeper. And you should! A good bookkeeper keeps a business healthy, happy and running smoothly. Here’s how:
BALANCE
When you start a business, you want to put all of your energy into growing your client base and generating sales, not spending every other waking moment sorting through invoices and chasing payments from your clients. And with limited work hours in the day, it’s likely to become something that has to be done from home. Keep that work/life balance in check by engaging someone else to do it for you! Follow your passion and let your bookkeeper do what they love.
ORGANISATION
No more shoeboxes! No more office desk so over crowded with paper that the desk seems to have disappeared! A good bookkeeper will have processes in place that will allow for maximum efficiency for you and them. Follow these processes and you’ll find you’ve been doing it the hard way all along.
Organised and concise records also help out should the auditor ever come knocking, or a business loan is needed.
EXTENSIONS
While everyone wishes the compliance deadlines set down by the ATO were a little more flexible, a late lodgement penalty won’t always be revoked if disputed. However, registered BAS agents (like us!) get extended deadlines for most lodgements.
ACCOUNTANT WHISPERERS
While an accountant is an essential part of any small business, sometimes the tax law jargon can be super confusing for the average business owner. Bookkeepers to the rescue! A business’s bookkeeper acts as a great go between, able to understand the tax talk and simplify any advice delivered by the accountant for the business owner. Let your bookkeeper make things easier and more enjoyable and the three of you will be unstoppable on your business journey!
If you’re a new entrepreneur, excited by the prospect of delivering your product to the world, the mere thought of talking to an accountant about your plans and aspirations can be daunting. An amazing bookkeeper can not only have these same discussions with you, but can also recommend the best fit accountant for your business needs.
COST
An amateur is likely to make some mistakes. Whilst mistakes are learned from, they can be costly when it comes to your business. The longer they are left, the more costly it’s going to be to fix them. Having a professional take care of your books from the start is much more cost effective than hiring one later to clean up your mess.
If you want to save even more, outsourcing a bookkeeper is the way to go. You also won’t need to give them any annual leave or pay them super!
Behind every great business is a great bookkeeper. If you don’t have one, now’s the time! Give us a call on (02) 9544 4729 or send us a message here to find out what we can do for you.
