You Can’t Run Your Business By Keeping Your Receipts In A Shoe-Box. You Need A Bookkeeping Service.
It’s an old joke about small business owners giving a shoe-box full of receipts to their bookkeeper at the end of the year but unfortunately, it’s true.
We still see is all too often.
There are still many companies that don’t have a reliable, easy and cost- effective way of keeping their company accounts in order. This means that they do not know how their business is doing.
If you are winning new contracts or getting lots of jobs, most business owners assume that they are making good money. You might think you are making money but if you don’t regularly, ideally every week, update your books, and reconcile with your bank accounts, it is very easy to get a false idea of
how profitable your business is. Or more likely, how much money you are losing.
There are plenty of software packages around that can do the job but
It still takes time to set up
- You need to have an understanding of accounts
- You either have to employ a bookkeeper to “do the books” with all the costs that go along with staff or
You have to spend time yourself
- entering the data,
- checking it,
- reconciling the numbers and then
- understanding what it all means.
You can save yourself all of that time and cost by outsourcing your bookkeeping to a specialist and experienced bookkeeping service.
Imagine being able to leave all of the paperwork, invoices, receipts, expenses, bank reconciliations, reports, and GST returns. How much productive time do you lose because you have to handle all of those tasks?
You went into business to do what you are good at, not to complete forms, books, handle paper.
Employing A Bookkeeper
Taking on a bookkeeper is the obvious answer for many businesses but that has staff employment issues, management, fixed costs, holidays, paperwork and legal obligations too. And what if they aren’t any good, or you simply don’t get on?
For many business owners, employing a bookkeeper brings as many problems as it solves.
It Doesn’t Have To Be That Way
You can outsource your bookkeeping on a contract.
This means that you know that all your invoicing, bank statements, and the financial books are up-to-date, reviewed and are complete. You can also ask your outsources bookkeeper to prepare reports for you so that you know who owes you money, what bills you have coming up to pay, the cash balance in
the bank (cash is king), and the latest Profit and Loss report.
By hiring an outsourced bookkeeping service, you will free up a lot of your time, most of which is probably very frustrating working out how to balance your books.
You will also probably find that your business is better run, and you will have peace of mind, knowing that all the paperwork is done for you.
So besides knowing how much money is in your accounts receivable and how much you have to allow for your creditors and overheads, a bookkeeping service can give you quicker and more meaningful understanding of your trading position. You don’t have to wait to after the year-end to see how well you are actually doing.
If you want to outsource your bookkeeping to get a better idea of how your business is running, call Kim on 021 259 0120, email firstname.lastname@example.org, or visit our contact page.
Give your bookkeeping services to Monteba. It will save you valuable time which you could be spending generating more income or spending more time with family.
Importing and reconciling supplier documents
Getting invoices ready to be approved