Tag Archive | bookkeeper in Melbourne

Reasons Why Your Business Needs A Bookkeeper

It may appear strange an accountant is suggesting a bookkeeper; after all, we mainly do the same job, don’t we? The short answer is no. Bookkeepers and accountants way and deal with financial information from different perspectives and for that reason may offer insights at two different levels.

With the climb in automated alternatives for banking, bookkeeping, accounting and almost everything else it is straightforward for the traditional jobs of bookkeeper and accountant to overlap.

However, there are five major explanations why your business needs both a bookkeeper:

Accurate financial data

Running a successful business is reliant on the dog owner or manager can make essential decisions quickly with consideration of all available information. Whether this is the decision to take on a large job necessitating additional equipment and resources or to finance or rent a photocopier, it is vital that you have got up-to-date financial information. Your transactions joined regularly and accurately can sometimes make the difference between success and individual bankruptcy.

Management Of Obligations And Receipts

The demands of a business owner seem to be never-ending and guaranteeing charges are paid on time, and BAS are lodged are just some of the many duties you have to keep up with. Having all your expenses, invoices and liabilities documented within an accounting system is a superb first rung on the ladder, and subsequent automated alerts and reminders are important. Because your bookkeeper is witnessing transactions on a regular basis, they often have greaterknowledgeof what payments need to be made, or what receipts are outstanding over a particular period. They can be sure you do not miss anything important.

Interpretation

Let’s face it; sometimes it seems as if accountants are speaking an alternative dialect. A bookkeeper knows your business’s deals almost as well as you do and will often provide the functional perspective to your accountant’s more academic observations.

For instance, if your accountant questions why your gross profit percentage is merely 5% this one fourth instead of 20%, your bookkeeper may explain that this is a timing issue – you have a few invoices that were issued overdue while suppliers were paid promptly, however, this will even out over the entire year. A bookkeeper has anunderstanding of your day-to-day funds that lots of other advisers will not. Working carefully with your bookkeeper and accountant allows you to keep on top of any potential problems or opportunities which may otherwise be forgotten.

Savings

It appears counter-intuitive because your bookkeeper will undoubtedly require payment because of their services but hire a bookkeeper can save your valuable business not only money but also time and possibly your sanity!

  • Having bills paid and receipts accumulated promptly can help even out cashflow and save on following fees and interest.
  • Banks, funding providers, and suppliers appreciate clients who are in charge of their budget and will look at funding applications favorably.
  • Accountants love clients who come to them with appropriate, up-to-date data as it allows them to prepare financial claims and taxation statements more comfortable and allows the possibility to offer more proper advice and analysis.
  • Instead of spending hours weekly muddling your way through your catalogs, you can be out drumming up a business or doing the work you love.

Some people love bookkeeping and do it well. If it is the high light of your week, then, by all means, continue to do your accounting. At businessDEPOT,we have reduced bookkeepers Melbourne and also work meticulously with some local bookkeepers to ensure our clients have access to the data and insights they need to empower the excellent ideas.

For more information: http://www.bookkeeperco.com.au

What to Look for in a Virtual Bookkeeper

When it comes to hiring a virtual bookkeeper in Melbourne, then there are a couple of things that you should consider before you’re actually hiring a virtual bookkeeper. There’s many people that pretend that they have any bookkeeping experience, and just doing this for the money.

This is why it is really important to make sure that you know exactly who you are hiring as a virtual bookkeeper. Here’s some important things to look for in a virtual bookkeeper to make sure that you’ve hiring a great bookkeeper.

Look at their qualifications

The first thing and the most important aspect that you need to look at, when you’re hiring a virtual bookkeeper in Melbourne, is their qualifications.

Don’t just take their word for it, if they are saying that they have bookkeeping qualifications. You have the right to ask them to email you the certification documents. And, you don’t need to stop there. If you’re still unsure, if this is legal certification documents, you can always go somewhere with the documentation for authentication. There’s some great places online that will be able to tell if these documents are real or fakes. Don’ hires anyone if they can’t show you their qualifications and certifications.

Ask about their experience

Another important thing that you need to look closely to, when you’re thinking about hiring a virtual bookkeeper in Melbourne is the experience that they have.

It is really important to make sure that you’re only hiring a virtual bookkeeper that has many years of experience. Don’t hire someone that has no experience as a virtual bookkeeper.

There’s really many things at stake, when you’re hiring someone for doing your company’s books. And, you can’t hire someone that isn’t able to proof that they have the experience and the knowledge to do a great job and to be able to be trusted with something as important as your company’s books.

References

Any company is entitled to ask a bookkeeper in Melbourne for some references. References are really important, because you can use these references to make sure that the virtual bookkeeper is really trustworthy and legit.

When a virtual bookkeeper doesn’t want to give you any references and telephone numbers of people that have hired the bookkeeper in the past, then you should see the warning signs. It is really not a good idea to make use of a virtual bookkeeper that isn’t prepared to give their references telephone numbers so that you can see that they are legit and real. Then, just maybe they might have something to hide.

Qualities Of Virtual Bookkeeping Assistant

It is really possible to hire a virtual bookkeeper to maintain your business’s books. However, there are some dangers in it as well. You need to make sure that the bookkeeper that you’re going to hire has the right qualifications and experience to prove that they are legit and really able to maintain your business’s books. Otherwise, you should rather make use of a company like www.bookkeeperco.com.au to maintaining and doing your company’s books.