We get it; you like to have oversight and control of all the parts of your business.
However; as the business grows this becomes increasingly hard and your need to control and do it all, means growth will slow as new opportunities will be missed and the skills needed to handle the increasing complexity of the business will not be there.
There comes a time when every business owner needs to decide on which parts of the business could benefit with a new level of support.
The feedback we continually get from business owners who have made the decision to get their bookkeeping done is “Why didn’t I do this sooner!”.
So WHY is bookkeeping is one of the parts of the business that could benefit from having an external bookkeeper?
As a business owner; have you ever:
- Felt disorganised with your receipts?
- Felt overwhelmed every Business Activity Statement time because the accounts are not up to date?
- Lodged a Business Activity Statement late?
- Wanted to know if the business is making a profit but not sure where to start?
- Wondered how to grow your business?
- Felt like you spend more time on admin of your business rather than focusing on growing the business?
- Wanted to hire a new employee but unsure where to start?
- Felt unsure of your obligations as an Employee?
- Lodged and paid your employee super late?
If you answered yes to any of the above questions…then it’s time to consider a professional bookkeeper for your business.
So; let’s look at some of the key benefits of using a bookkeeper to look after you accounts for you.
- You don’t have to do it!
You can use the time to work ON the business. After all, I bet you did not go into business to enter bills into an accounting system!
- No need to fumble (or google) your way through how to do the bookkeeping.
Good bookkeepers are well educated in the field, they are registered as BAS agents with the Tax Practitioner Board (https://www.tpb.gov.au/) and therefore, are also required to undertake ongoing training and development to maintain their registration with a minimum number of hours required each year. Why not leave it to the experts. Most of us would not fix our own burst pipe in our bathroom – we would call in a plumber…same goes for the books…there are experts in the field for a reason. Use them!
- You won’t miss a deadline!
Bookkeepers are all over deadlines, it is their job to make sure you are on time with all your obligations. As a business owner it is hard to keep on top of all the due dates for super, BAS, IAS, STP, TPAR, and all the other reporting and payment obligation acronyms that non bookkeepers do not usually get excited about.
- Tax time will be a breeze
Most good bookkeepers will have a relationship with your Accountant. At the end of the financial year, they can communicate with them for you to ensure everything in your accounting file is ready for the tax return to be completed. What may have previously been a big task that gets put off can be something you do not even need to think about anymore.
- Support your growth plans
If you are looking to grow the business; or just wanting to know how the business is performing then having a bookkeeper can be a huge advantage! Great bookkeepers will be able provide you with reports and guidance about the performance of the business and how to step up to the next level.
If you would like to discuss your bookkeeping requirements, please book a free initial consultation.