5 Key Benefits of Choosing a Bookkeeper for Your Small Business

We often have clients come to us after doing their own bookkeeping for some time. Bookkeeping can be time consuming, but it is necessary for every business. You need to keep track of money coming in, and money going out, and it is imperative that everything gets done properly.

There are many reasons that a potential client eventually comes and talks to us. People have their own individual circumstances and tipping points. But the reasons usually boil down to one of the 5 key points outlined below. Here are the 5 benefits of choosing a bookkeeper for your small business.

No Stress With Data Entry And Bank Reconciliation

We know many of our clients throw their receipts into a shoe box, an envelope or similar and leave their data entry to the last minute. When they finally get around to typing in their data they end up with errors because things get recorded against the wrong account, or the numbers just don’t reconcile with their bank. We take away this stress by doing it all for you. We have a system in place that allows you to send us your receipts and we make sure everything gets recorded correctly.

Make Sure You Get Paid And All Your Bills Are Paid

Another area where bookkeepers can support your business is through the provision of services related to Accounts Payable and Accounts Receivable. We make sure your bills get sent out and that they get paid. We also make sure all your suppliers get paid so no one is chasing you for money.

Make Sure All Your Staff Get Paid Properly

Superannuation and salary awards are regularly changing. It can be hard to keep track. This is another benefit for you getting a bookkeeper. It’s our job to keep track of all these changes and make sure your staff get paid properly.

Preparation Of Financial Statements And A Smooth Tax Return

If you engage a bookkeeper to keep your books up to date throughout the year, this means that the preparation of your end of financial year statements becomes really easy. This means your end of financial year tax return and all your quarterly BAS will be able to be submitted quickly
and easily.

Save You Time And Money

Last but not least, a bookkeeper saves you time and money. A quality bookkeeper is an investment in you getting time back. Whilst they are doing your books, you could be doing something much more fun, or much more productive. Further, a bookkeeper can also save you money. A quality bookkeeper, one with many clients, will have an understanding of general business expenses, so will be able to assess your own expenses and identify areas where you may be paying too much. This gives you the opportunity to identify potential areas of saving in your own business.

There you have it. We have shared with you 5 key areas where you can benefit from engaging a bookkeeper. If you’d like to chat about how we can help your business, please get in touch today.

Related posts

General Bookkeeping

Bookkeeping Tips for Tradies

Bookkeeping can be a tedious task for small business owners, especially tradies. We get it. Nothing is more boring than doing the “books” after a

Read More »