Why use a bookkeeper?
The foundation of any succesfull business is the basic numbers. Accurate, timely and reliable financial figures are the cornerstone of sound management decisions and can also assist in the improvement of business processes.
Bookkeeping is the recording of the financial transactions of a business including sales, purchases, income, receipts and payments.
Keeping these transactions up to date and available for analysis helps to:
- Keep compliance processes such as BAS, tax returns and other government reporting obligations on time, avoiding fines and penalties.
- Keep accounting costs down by having accurate information delivered to your accountant on time. The less your accountant needs to do, the less you need to pay.
- Provide management with financial accounts on a more timely basis. The sooner management has the numbers, the sooner they can respond to problems or grasp opportunities.
- Manage collections and payments efficiently to reduce the amount of time key personnel spend on administrative tasks.
Poor bookkeeping is often the beginning of significant problems with the Australian Taxation Office, unhappy suppliers, poor cash flow and enormous stress and worry for the business owner.
By using the services of a good Bookkeeper, management can spend more time doing what they do best, which is manage and grow their business, while feeling safe in the knowledge that their financial obligations are being maintained in an effective manner.