8 ways a professional bookkeeper adds value to your business
Often bookkeeping is viewed as an unwanted expense, which results in business owners wasting precious hours doing their own bookkeeping. Hiring someone who is unregistered or inexperienced not only costs you money in the long run, but it greatly increase the risk or unreliable data.
Reliable data is the cornerstone of making great decisions that can improve the value and health of you business. Below are 8 ways that bookkeeping achieves this outcome and solves problems in your business.
Your bookkeeping can be done remotely or onsite, on a daily, weekly, fortnightly, monthly or quarterly basis depending on your needs and business stage.
1. Your accounts are up-to-date.
Accuracy in your data entry is the starting point and the foundation of having reliable financial reports and lodgements in the future.
2. Accuracy saves time and money.
All bank accounts, credit cards, loans and HPs, as well as all accounts on the balance sheet need to be reconciled on a regular basis to ensure that nothing is left out.
3. Reliable financial reports for better decision making.
Accounts Payable and Receivable
From entering customer and supplier invoices, to paying bills. We can help you stay on top of upcoming monies owing to and from your business.
4. Improved relationships with customers and suppliers.
Debt Collection and Receivables Management
We can make sure that your customers pay on time and keep the cash flowing through your business, by keeping in regular contact and putting processes in place. We can engage professional debt collection on your behalf when circumstances become difficult.
5. Healthy business cashflow.
Payroll management including paying your staff, as well as tracking employee entitlements, and deducting and remitting PAYG & Superannuation.
6. Employee loyalty and trust.
BAS and IAS lodgements
Each month or quarter we can prepare and lodge your GST returns, including PAYG Withheld from payroll and PAYG Instalments to help you keep up to date with your tax payments.
7. Peace of mind that your business is compliant.
End of Financial Year
At the end of every financial year we will provide a complete and accurate set of accounts to your accountant so they can prepare your income tax returns and provide advise.
8. Faster turn-around time and lower fees.