Benefits Of Hiring A Bookkeeper
The dedication it takes to own and operate a small business is substantial, bordering on all-consuming. Herculean efforts go into providing the best products and services for your customers, in order to become sustainable. However, recognising (and reconciling) cash flow does not always get the attention it deserves, because balancing the books is not everyones’ forte... nor is it fun.
Wait!
There are unicorns in the professional sector called bookkeepers! People who genuinely love numbers, balance sheets, reconciliations, and payroll. I know! They are as passionate and tenacious about their business as you are about yours.
Bookkeepers excel at the business side of your business. They pride themselves on making the most of your books, maintaining and reconciling your accounts, and capitalising your tax returns, so you can invest your time and energy elsewhere.
The Devil’s In The Details
Bookkeepers are not intimidated by your shoebox files or your wallet receipting system. In fact, they expect a degree of uncertainty or confusion from their clients who are unsure as to whether they are profiting, have good cash flow, need debt collection, or payroll services. They puzzle out these pieces of intel and make the best possible business picture for you.
Outsourcing your bookkeeping will dissolve your pain points. With your accounts reconciled, invoices paid, your BAS statements lodged and your employees remunerated, you will be free of that hassle and turn your energy to more productive pursuits. Bookkeepers often offer insights into areas of your business that need improvement, are succeeding, or require a thorough rethink. They interpret granular so you see the big picture.
Spend Money To Make Money
Very few of us have the time or inclination to get the best out of our books. There are always exceptions to the rule, however, most of us need to be dragged kicking and screaming towards bank statements, balance sheets, and lodgement obligations.
Professionals cost money and ultimately having an expert on board means saving in the long run; whether that’s time, money, headaches, or missed opportunities. Qualified bookkeepers typically find that needle in the haystack, that’s how their beautiful brains are wired - they’re driven to find the easiest, effective, efficient, and most elegant way to grow your business.
And a quick word to the wise… don’t fall into the trap of getting your partner, neighbour, or friend to keep your books. The road to hell is paved with good intentions. Are they up-to-date with the latest technology and tax breaks? Are they really streamlining your operations? Are they growing your business or simply getting the job done? Hire a professional bookkeeper! An impartial eye is laser-focused.
Bookkeeping 101
At the very minimum, if you outsource a bookkeeper they will prepare the following online documents for you with precision and accountability.
BAS Preparation and Lodgement
Accounts Payable
Accounts Receivable
Payroll Services
Account Management
Account Reconciliation
Financial Reports and Statements
EOFY Lodgements, such as TPAR and STP finalisation
Even if you don’t need the full suite of services, simply outsourcing payroll for your employees can be a huge benefit and alleviate the stress of guaranteeing accurate, on-time deposits. It goes without saying, don’t mess with peoples’ wages.
Certified bookkeepers’ attention to detail is unparalleled. Their business is to grow your business. As a wise bookkeeper once said, “You didn’t start a business to do bookkeeping, but we did!” That’s money!
