We’ve written this article as a checklist for those that are starting out in business. We’ve written it for those entrepreneurs that are ready to outsource their books – as well as the other administrative tasks a bookkeeper can help you with.
The purpose of this article is to make sure you understand all of the tasks a bookkeeper can help you with. It’s not just what you think.
Here are 9 tasks a bookkeeper can help you with.
Account Management and Day to Day Record Keeping
Your bookkeeper can help you with your day to day record keeping and account management. By helping you with all your data entry and ensuring everything is up to date, you will know how everything is going in your business and be able to flag any issues early.
Ensuring You Meet Your Legal and Tax Reporting Requirements
Legal reporting requirements – for taxes etc – can be complex. It is your bookkeepers job to ensure that everything is recorded properly so that you meet all your legal and reporting requirements. Working with a bookkeeper regularly means that your books are up to date when tax
deadlines come due.
Manage Accounts Payable
A bookkeeper can help you manage your accounts payable, making sure all your bills are paid on time.
Manage Accounts Receiveable
Further, if you want, a bookkeeper can help you ensure that you get paid. Your bookkeeper can send out your invoices on your behalf and ensure that you get paid for every invoice tat you send out. They can also chase up late payments.
Prepare Your Quarterly Financial Statements
Your bookkeeper is responsible for preparing your quarterly financial statements – making sure that you are prepared to submit your BAS and other documents on time.
Manage Payroll
Do you have staff? Is managing their award, their tax and their superannuation annoying you? This is somewhere else a bookkeeper can help you. We can manage all of this for you.
Manage Stocktake
Your bookkeeper can also help you with stocktake. A great bookkeeper will keep reports of inventory so that you can quickly know if there are any discrepancies.
Keep An Eye On Your Cash Flow
A bookkeeper that is regularly managing your books will help you with one of the most important tasks in your business – making sure that you don’t run out of cash. Your bookkeeper will make sure that you will have cash in the bank to pay debts when they are due, and flag with you early if there are concerns so you can address them in a timely manner.
Prepare Your Books for the Accountant
Your bookkeeper is responsible for preparing books for your accountant, so that your accountant can prepare your tax returns each
financial year.
If you are at the stage your business where you are ready to engage with a bookkeeper we’d love to have a chat with you. Please get in touch with us for a no obligation discussion about how we can help you and your business with your bookkeeping needs.
