Your Company Needs A Certified Bookkeeper For These Benefits
Certified Bookkeeper Benefits – A certified bookkeeper will help transform a company because they give useful information which could help companies steer their finances in the direction that it needs to go. Consult with them so they can offer excellent support for you and also assist in transforming your business into what you’d dream it could be.
With a big grin on your face, would you sit down to program all of the fantastic things you might do with your savings for GST, bookkeeping and tax fees? Or do you just get out there and start spending it?
Accounting is often viewed by people in business as a “necessary evil” imposed upon us by governments. However, accounting is a lot more than compliance or documenting historical trades. It is also about ethics and transparency and most importantly, about clever decision making.
Good Bookkeeping Is About Your Future – Certified Bookkeeper Benefits
The reality is that in the above scenario if you learned there was no more need for compliance. Then you MIGHT celebrate if you got that email from the ATO. However, your excitement and awareness of freedom would probably only last for around five minutes. Or however long it took you to realise that without bookkeeping, you would have no clue what to spend that money on. Or even more frightening though; exactly what you SPENT it on.
The extra money you saved on tax and accounting fees would certainly find a way to invest itself fast somewhere else. Then you would be back to square one. Except you would probably be a little worse off because you’d no longer need your bookkeeper or accountant to assist you!
As you can see, a bookkeeper is more than just an investment. That’s if you find the right one.
10 Ways Off The Hook Bookkeeping Helps Your Business – Certified Bookkeeper Benefits
A few of them may surprise you! Many people don’t even understand exactly what a bookkeeper does. Mostly they believe that it’s just organising receipts, coding trades, paying employees and lodging BAS.
Bookkeeping is so much more. It has a critical role in your business, and here’s how.
They Give Regular Updates On Your Cash
Bookkeepers send you a weekly summary showing your net cash position. Most individuals don’t even consider this, many small business owners say things like. “Don’t worry about the P&L or Balance sheet, I simply look at how much money I have in the bank”. Regrettably, this flawed thinking could lead to the eventual closure of your company. Why? Since the cash in your bank accounts is not necessarily YOURS.
However, during the day your salary is expected to be $6,000, and your provider pay run is due tomorrow for $4000. Three of your clients are due to pay you $8000. Along with your BAS is due in a couple of weeks for $14000, along with your credit card and loan payments for the month are going to be $3,000.
You DON’T have $20000 in the bank in any way.
Do you enjoy your bank balance? Then feel as if you’re on a roller coaster once the cash goes up and down just like a yo-yo?
Obtaining regular updates on your cash position. You will have the ability to see just what you have at any particular time. This helps you make better spending decisions, and also to feel in control of your cashflow.
Bookkeepers Will Give You Advice On Financial Decisions – Certified Bookkeeper Benefits
As mentioned in the last example, you may find, like many business owners, your doctrine is to “live in the moment”. If you believe like that, it is possible you also spend reactively and don’t plan. Maybe a business partner? Your accountant? Your spouse or friend? Or a puppy?!
Frequently, your accountant will be too busy to talk to regularly. Hence, even if they do make time to talk to you about a major purchase, they truly have no clue what’s going on inside your small business. Since they only look at it once per year.
You might not own a business partner, but even if you do, you want an external person who is not emotionally involved with the circumstance. This is to provide you with perspective. Your wife or friend who does not understand the business will not have the ability to apply financial wisdom. Therefore, you must get in touch with an expert.
We will help you with your decision making processes. Though we do not tell you what to buy or not buy, we provide you with all of the information that you want to feel comfortable to make wise buying, investment or investing choices.
Budget & Financial Expertise
Budgets and financial predictions play a huge role in decision making. We can prepare custom information, in the kind of tailored reports, which you can view to see your fiscal and cash position. This depends upon trends as well as the impacts of certain conclusions. We can show you precisely how a financial decision, purchase, investment or financing TODAY can impact the FUTURE.
Everybody wants to grow their gain, but a lot of people do not know how to do it. Have you ever heard helpful advice like, “in case you want to eliminate weight you just have to consume less and exercise more.”
Usually because of emotional, psychological factors and perhaps even undetected underlying health issues, lack of sleep and stress. In such cases eating less or exercising more doesn’t help.
Everybody understands that is terrible advice since it doesn’t work. Though biologically we are designed to eat and burn off calories, anybody who has ever found themselves overweight knows just how difficult it is to “eat less and exercise more.”
Experts Have Industry Experience – Certified Bookkeeper Benefits
If you would like to be more profitable, you may have heard similar terrible advice. Has anybody ever told you “if you would like to be more profitable, you simply must invest less and earn more?” We can help you increase your profit by encouraging you about the journey of learning how to invest less and earn more. One of the ways we assist you to spend by developing a budget and giving you the accountability to help you to adhere to it.
And yet another terrific way to increase your profit is to become MORE efficient. We will enable you to track and measure your efficacy and show you ways to improve.
So how about raising the income? Some bookkeepers may know how to let you know just how you can cut down on your current expenses, but not many understand how to help you improve your income. Howard Ghedia understands this.
If you’d like to help to increase your profit, you can click here to book a free consult anytime.
They Can Help You With Your Budget
Perhaps you had great intentions to create a budget and then never got around to it? Or have you created one and never looked at it? Or do you end up looking at it frequently, realising it is too late, that you didn’t follow it, and again, spent more than you planned? This is common!
We can assist you to set your budget, and provide you with support and accountability, as well as helping you to put controls in place to restrict unnecessary spending.
A Certified Bookkeeper helps with reducing your accounting fees
Everything you probably never realised is that your accountant is probably charging you $150 per hour to get a junior, $250 for a senior and $400+ for a partner. That’s a lot! I’m not saying that accountants are not worth what they cost. Some are, some are not. But something you certainly do not want to do is pay your accountant to perform BOOKKEEPING! Because guaranteed, they’ll be charging you $150 per hour won’t tell you.
We can help you reduce your accounting fees by preparing your account in a means that will lower the amount of work needed to be achieved by the accountant.
I understand what is expected from the accountant, so I train my entire employees in how I was educated.
If you want to cover less bookkeeping fees, you can click here to reserve a complimentary consult anytime.
Do you ever find yourself wasting time with menial accounting or bookkeeping related tasks? Or in regards to BAS or tax time, that you’re scrambling around trying to locate everything for your accountant or bookkeeper? Or are you simply finding that your company is not as profitable as you would have expected?
Your Business Is In The Right Hands
Accounting processes and all company procedures for that matter are created to produce efficiencies. A business with strong procedures will be, not only more efficient, and therefore rewarding, but it will likewise be VALUABLE. Especially when it is time to offer your small business.
A business with documented and established procedures is more valuable in the marketplace than a business with no, for the very simple fact that the new small business owner can take over where you left off.
But even if you’re not thinking about every selling of your business. Procedures are extremely important. In regards to accounting and bookkeeping, having easy-to-follow, simple and effective procedures can signify the headaches for you and your employees are decreased, or perhaps removed.
From day one, we start documenting your bookkeeping processes and creating a guide for this area of your business. That way, if you ever decide the timing is appropriate to employ your in-house bookkeeper or accountant, then everything will be there for you.
We can help you and your team establish patterns and provide you with step-by-step, personalised guides to cover each area of your bookkeeping function.
If you currently love what you’re reading so much and would like some assistance, you can click here to book a free consult now.
They Will Know How To Fix Your Financial Problems
Your bookkeeper also has to have Professional Indemnity Insurance of at least $250K AND they need to do 45 hours of ongoing professional development and study every three years to stay registered. Once registered they need to adhere to the Code of Conduct of the Tax Practitioners’ Board which is great because it implies that if your bookkeeper doesn’t follow that code, you can report them to the TPB who can take action on your behalf.
As long as you have yet to be irresponsible, intentionally disregarded tax legislation, or been involved in a “tax avoidance scheme” then you or your bookkeeper can request”Safe Harbour”.
You can take over your payroll duties to make sure your workers get paid on time and have all their entitlements and allowances insured. Nothing surpasses morals from your employees faster than them by not getting paid what they expected or getting paid on time. Disgruntled employees are a hassle that some panadol won’t save you from.
Certified Bookkeeping helps with paying your invoices
Do you know if your bookkeeper can cover your bills for you? Or at the very least give you a list of payables. Not becoming nasty charging interruptions, or needing to deal with hostile suppliers, is something we all take for granted. By paying your bills on time, you maintain your relationships receptively and joyful. That is worth doing on time, every time.
They can help with reconciling your accounts
Reconciliation is a word that bookkeepers use all of the time. This basically means that every transaction has TWO sides (aka Double Entry Accounting). Doing a reconciliation makes certain the transactions BALANCE (ie equal the same on each side) and both sides are allocated to the right location.
Without going too much into the boring details, in a nutshell, reconciling all of the reports means your accounts and reports are ACCURATE. Meaning that they are an ACTUAL representation of what happened.
While you might be in a mess about where your finances are, the people you owe money to — your employees and suppliers — will not be. Having a certified bookkeeper will help you avoid these problems revel in healthy and accountable relationships which will improve your time as a business owner.
Contact Us Now
As you can see, there’s a lot of ways a certified bookkeeper can assist your business. Did you KNOW that is what a company can do to help your business? Did you find that info helpful?
We would like to consult with you about how we can assist you in precisely the same manner we’ve helped several other tiny businesses over the years. Contact us now for more.