Imagine having professional bookkeeping, helping you run your business, and giving you more free time in your life.
Where would you spend it? With your family, or friends or maybe indulging in a passion you really love.
Bookkeeping is more than the effective management of finances, payroll and tax. It’s the gift of time.
From providing accuracy of financial data to regulatory compliance, reduced financial responsibilities and management of receipts; bookkeeping is a service that boths cuts business costs and helps grow business at the same time.
If you’re wondering why your business needs professional bookkeeping in 2020, here’s what you need to know.
What is Bookkeeping?
Bookkeeping can be a broad term used to cover many different functions. For instance, it is common that small business owners have to juggle their business operations and administrative tasks.
Over the years, it has proven to be very useful to hire bookkeepers to help manage and undertake these functions.
This is particularly important when developing strategies of time management; as it allows you to balance your roles and responsibilities within a more consistent schedule.
Professional Bookkeeping can include:
- Invoicing
- Stock Control
- Chasing of Debtors
- Paying Suppliers
- Negotiating with Banks and Financiers
- Bank Reconciliations
- Paying Staff and Managing Entitlements
- Preparing BAS and IAS Returns
- Managing Superannuation, PAYG and Payroll Tax
- Setting up Accounting Software
According to the small business team at Cessnock Tankworks, bookkeeping provided insights into their budget that revealed capital they could put back into their business. They explain “it’s impossible to invest money you don’t know you had. Bookkeeping allowed us to pinpoint areas of cash flow that were available to invest in additional equipment and hiring. These directly lead to growth, and would have gone unnoticed without professional help.”
Why use Professional Bookkeeper?
A bookkeeper is not someone who simply inputs data or merely keeps the bank happy. It is also about enhancing your business prospects.
It can be overwhelming for an owner to oversee all of these areas and at the same time, try to build the business itself.
According to entrepreneur Darran Moran, “a good bookkeeper will consistently reflect on each stage within the process and analyse all relevant details to produce an accurate result. These services are crucial for ensuring the success of any business. I don’t have time to stay on top of every aspect of my business, so when I’m providing a service, I can trust that my bookkeepers are on top of the areas of my business that I don’t have time for.”
The main role of bookkeeping is thinking about the needs of the business, thinking about the processes to get a result.
As your roles and responsibilities will usually depend on the size of the business, hiring a bookkeeper can provide you with the flexibility to focus on the essential tasks.
At Business First Technologies, our services range from simple advice in setting up systems, to handling your entire business administration. This includes areas of payroll, back office and the management of debtors or creditors.
Business owners should have a basic understanding of these functions, however, employing a bookkeeper will save you time in dealing with these duties so you can focus on growing your business.
Why Choose Us?
At Business First Technologies, we offer committed and experienced professionals to meet your needs.
We are CPA qualified and registered BAS Agents with the Tax Practitioners Board; and using smart technologies, we are able to enhance your business processes more effectively.
- CPA Qualified
- Registered BAS Agents with Tax Practitioners Onboard
- Committed and Experienced Professionals
- Range of Services to Small Businesses
- Smart Technologies to enhance Business Protection
- Over 20 Years of Experience in Accounting, Technology, Marketing and Banking
Looking for help with your bookkeeping?
If you are looking for professional bookkeeping or need business advice, you can contact us for our services online or for an obligation free consultation via phone.
Our goal is not simply to ‘sell’ you a solution; we are here to assist in supporting your business and helping you aide customers in finding what they need from your business.
Author Bio
Angelica Hermann is a passionate freelance writer based in Sydney. She is a university student and majoring in philosophy. Angelica loves to travel and in her free time enjoys being a tourist in her own city. Passionate about animals, Angelica loves all creatures great and small.
