Five Good reasons Why you Need a Contract Bookkeeper
If you are ok with not knowing how your business is financially performing, if you love the stress of doing your BAS at the last minute in the wee hours of the morning, if you have heaps of time and prefer spending time on bookkeeping rather than your business or things you love to do, if you’re ok with unintentionally making what could be potentially very costly mistakes and love paying the ATO thousands of dollars in penalties then maybe you don’t need a contract bookkeeper.
But if your time is worth something and your time should be spent creating new ideas, finding new clients and running your business then this list is for you.
Hiring a Perth Contract bookkeeper will save you time. Many small business owners struggle with tasks that are outside their area of expertise and should be spending more time on their core business. A professional bookkeeper will take care of your bookkeeping needs so you have time to focus on your business and profitability. You will know that your accounts will be correct. If you’re not familiar with bookwork you could be making errors that can cost your business a lot of money. A contract bookkeeper does this for a living. Not only would they spend less time doing the books than you would, they know what they are doing and are more efficient and accurate in their work to provide you with correct financial information.
There’s a legal requirement to have your business financials in order. If the ATO decide to undertake an audit on your business, wouldn’t you like to be secure that all your books are up to date? Your updated books can facilitate a painless, in-and-out audit. There are specific dates for filing your BAS/taxes and missing a date no matter how unintentional can cost you thousands of dollars in penalties. A good bookkeeper would ensure your financials are sent on time.
Instant access to financial reports so you can obtain a true picture of how the business is performing. By the time your accountant gets to see your financials they could be over twelve months old. Making important decisions without current financial reports could be detrimental to your business. At a glance you will be able to see if your profits are up or down, monitor sales and expenditures. You will be able to see trends and patterns in your business that make it easy for you to recognise ways you can save money and boost profits that otherwise you might have missed or not seen at all until it was too late.
Many small business owners struggle with cash flow and can be too busy to invoice and chase debtors. Your bookkeeper can organise a system to monitor your cash flow and improve budgeting practices so you can be ensured that you have money for future activity.
Applying for a business loan is easier if you can prove how your business is performing with well organised books. Should you ever decide to sell your business it is crucial that your books are in order as any potential buyer will want access to your books and your books should reflect the value of your business and determine the best selling price.
With all the above benefits that come with hiring an experienced bookkeeper it doesn’t make sense to do your bookkeeping yourself. When you hire Jaleana from Bookkeeping Fairy not only will you will save money, you will have time to make more money, avoid legal issues and tax problems and best of all you will have more time to spend doing what you do best in your business and enjoy quality time with family and friends.
Check out my website www.bookkeepingfairyperth.com.au or contact Jaleana 0400 102 358
