Have a look at this article on Kochie’s Business Builder.

Thank you to … Klay Lamprell 04.08.09

http://smallbusiness.yahoo.com.au/Article/IsABookkeeperALuxury

Hiring a bookkeeper can be tricky, especially if bookkeeping is something you don’t really understand. As with any recruitment process, you base your decision on qualifications, references, length of experience and personality. Knowledge of your particular industry can be a bonus but it’s not necessary. A highly experienced, well-qualified bookkeeper will ask the right questions and learn quickly.

You might pay more, but it can be worthwhile using a bookkeeping company rather than a sole operator. A bookkeeping company will have a few bookkeepers on staff, should conduct regular reviews of its bookkeepers’ work, should ensure their bookkeepers are up to date on all tax office rulings and software changes and will be able to supply a fill-in should your regular bookkeeper take leave for any reason.

The lowest-cost option for getting your BAS prepared and keeping basic financial records is for a bookkeeper to work directly from your bank statements. You note which are business and which are personal expenses, and the bookkeeper will enter and code the information. Some companies offer packaged fees for this, so the costs are set and there are no surprises. With this option, you can still get the regular reports that businesses benefit from, such as profit and loss and cashflow reports, as well as end-of-year reports for the accountant, which may make your tax returns less expensive.

Whichever style of bookkeeping service you choose, knowing that your financial records are being kept accurately and that you’re doing everything right as far as the tax office is concerned will give you peace of mind. More than that, the time you used to spend dancing clumsily around ATO deadlines can now be spent catching up on industry developments, training staff and, most importantly, growing your business

Latest News

  • 16 Oct 2016

    Jaguar Thank You Evening
    Read more »

  • 27 Sep 2016

    Discount to grow your business?
    Read more »

  • 12 Sep 2016

    Don’t bury your head in the sand: If your business is struggling, wake up!
    Read more »

  • 11 Sep 2016

    Changes in Modern Awards re Overtime
    Read more »

  • 15 Jun 2016

    The five most common mistakes SMEs make at tax time
    Read more »

  • 3 Jun 2016

    7 Bookkeeping Mistakes Business Owners Should Avoid
    Read more »

  • 30 May 2016

    Are cashflow issues keeping you awake at night?
    Read more »

  • 18 Apr 2016

    Is Your Bookkeeping Putting Your Business At Risk…?
    Read more »

  • 10 Feb 2016

    5 Essential Warning Signs to Impending Customer/Client Debt
    Read more »

  • 3 Feb 2016

    Tax shock: When it comes to tax record keeping, the shoebox isn’t dead
    Read more »

  • 3 Sep 2015

    Employee or Independent Contractor? — new ATO guides released
    Read more »

  • 22 Apr 2013

    Top Reasons for Small Business Failure
    Read more »

  • 19 Mar 2013

    Five tips for managing cash flow
    Read more »

  • 19 Mar 2013

    Profitability and cash flow checklist
    Read more »

  • 12 Mar 2013

    5 ways to make happy customers or clients
    Read more »

  • 12 Mar 2013

    Companies putting themselves at risk with unregistered agents
    Read more »

  • 30 Jan 2013

    Accountants beat banks as most trusted source of advice
    Read more »

  • 30 Jan 2013

    Tax body says SMEs using dodgy bookkeepers should miss out on deductions
    Read more »

  • 4 Oct 2012

    6 Key Areas to Help With Financial Mastery in Your Small Business
    Read more »

  • 27 Aug 2012

    Chasing cashflow a critical issue for small businesses
    Read more »

  • 16 Aug 2012

    Reportable Payments to Contractors
    Read more »

  • 1 Jul 2012

    Is a bookkeeper a luxury?
    Read more »

  • 29 May 2012

    You snooze, you lose
    Read more »

free Health Checkon your business performance