Free your mind
Day-to-day bookkeeping will tie up valuable time. Our tailored bookkeeping service performs this essential task in an efficient and accurate manner, leaving your staff with more time to concentrate on your core business. If you complete your own accounting records, we can give you advice on selecting the right software for your business—and we can customize it for you. We can also create a hybrid for you utiltizing cloud based programs to maximize the efficiency of your time, enlisting the aid where you need it, and ensuring your compliance and regulatory requirements are met.
Reliable monthly and quarterly statements provide a snapshot of the financial position of your company. Our dedicated team can take your basic books and accounting records to the next step by preparing statements that will help you make the best decisions at the most opportune times for your business. With real-time reporting we integrate your data into Sage view and schedule regular meeting to ensure you keep your finger on the pulse. Visit our whitepapers for an example of how bookkeeping, year end accounting and real time reporting can be combined to save you time and money. These services are not expensive as you may expect, and let our firm help you grow and rest easy.
What do they actually do?
Bookkeepers are trained and use the same financial recording methods as accountants. They do this so that your accountant can quickly and easily process your financial information. They will:
- Take all your receipts, invoices and other transaction details.
- Record the information in accounting software using proper accounting methods.
- Work with you to make sense of the numbers, for example assigning costs to specific clients.
- Forward valuable information onto the accountant thus simplifying and expediting the year end process
But there's more to bookkeeping than recording daily transactions. Our bookkeepers are highly skilled and certified in using accounting software. They will be able to advise you on:
- add-on solutions to streamline your business workflow, such as POS tools
- payroll services to simplify the way you pay your staff
- bookkeeping rescue work, tidying up mistakes made by inexperienced staff
They can also offer day-to-day support for small business owners. In fact a good bookkeeper is your partner in keeping things running smoothly within your business.
Why do you need a bookkeeper?
If you started your own business, it’s likely that you’re passionate about running it and concentrating on the tasks you love doing. But if you’re like most business owners, you’re not so interested in recording all the details of every financial transaction.
For example, imagine you’re a hair salon business owner. You might have:
- a simple business model
- a high transaction rate with lots of customers
- many sales a day
- supplier invoices for hair products
- sales recorded through cash registers or other POS (point of sale) systems
- staff wages to record and pay.
That's a lot of information to track and record. And bookkeeping might not be something you enjoy or have time to understand. Without proper bookkeeping, it would be easy for transactions to go unrecorded, left to pile up until the end of a financial period. Mistakes could be made and important details could be lost or forgotten.
That's where bookkeepers come in. They can lighten the load on the business. They can take away the day-to-day recording of receipts, invoices and other transactions. If you prefer to post transactions yourself we can step in and assist with bank reconciliations and GST reporting. Services provided can be tailored to your time and budget. In addition we can develop a fixed fee estimate to include all your bookkeeping and year end reporting requirements.
How are they different to accountants?
Bookkeeping is a vital service. But how does it differ from accounting? The two services are often compared, but actually they are complementary:
- Bookkeepers do the day-to-day work and bring the accounts up to a high standard of detail and accuracy. They can also advise you on issues that might affect you in the near future, such as cashflow problems or late invoice payment.
- Accountants will look at the accounts that have been created, often on a quarterly basis. They will make any minor adjustments required. They will use the information in the accounts to file tax returns and other official reports. They will also provide high level business advisory services.
For your business to run smoothly, you need both people. You'd hire a bookkeeper to look after the day-to-day work. And you'd hire an accountant to handle official reporting and high level business advice. Give us a call and we'll be delighted to discuss customized options for your bookkeeping and year end needs.