As easy as it is to do your books with MYOB software, sometimes help is needed. Or maybe you’d rather relax with a cold one after a long day rather than spend time on your numbers.
Either way, shelling out for a whip-smart accountant or bookkeeper can be the best investment you’ve ever made.
The first thing is to figure out if you need a bookkeeper, accountant, or both.
Do I need a bookkeeper or accountant?
Knowing what’s what between an accountant and a bookkeeper is a puzzle before you’ve hired one and seen them both at work.
The short version is this:
A bookkeeper helps with business management software, payroll, data entry, recordkeeping and reconciliation of the bank accounts. If they’re a registered tax agent, then bonus – tax returns are their game too.
An accountant, on the other hand, can play a broader role. They offer tax advice and related matters to make sure that you’re running your business as efficiently as you can.
We’re now moving towards a future where both roles are morphing – so both roles may have wider application.
If you just need help with the books, start out with a bookkeeper. If you’re after deeper tax advice, start out with an accountant.
Find one who offers tech solutions
The best accountants and bookkeepers are across new tech, and how they can use it to help your business succeed.
Technology is moving at a faster pace now than at any point in human history, and there’s new tech solutions coming out daily.
So, it’s best to have an accountant or bookkeeper open to new methods instead of using tired systems the same old way.
That’s like sticking with a Yellow Pages ad listing and playing snake on your phone during smoko.
Expertise for your business, not busy work
Bookkeepers and accountants are repositioning themselves as business advisors – and there’s a reason for that.
New tech is making compliance and transactional work much easier and within the grasp of business owners themselves.
It’s why these professionals differentiate to offer niche services, like marketing, business structure set up and advisory.
It’s silly not to take advantage of their wealth of experience in these fields.
They’re people who’ve immersed their heads in the books of so many companies over the journey, sharing in the hundreds of problems and challenges of those businesses.
So, although your business may be unique, your recurring problems have been seen before.
Why not tap into their knowhow?
Outsourcing your accounting & bookkeeping can save time, money and stress.
Here are some of the top reasons why many small & medium businesses now outsource their bookkeeping to experts:
1. ALLOWS YOU TO FOCUS ON CORE STRENGTHS
Bookkeeping is time consuming, and unless you’re a qualified accounting expert you’re probably not the most efficient at it either.
By outsourcing your bookkeeping needs, you can save a lot of time which can be utilised elsewhere in the core strengths of your business.
Think how many hours a month you spend taking care of the books – and then think how much your business could grow if you spend that time doing other important tasks or research.
2. SAVE MONEY
Cash is the oxygen of business and every outgoing should be carefully considered. So how can paying an external accountant & bookkeeper save money?
First of all, it means you don’t have to pay any employee wages, National Workers Compensation Insurances or benefits to a member of staff in the company to look after the accounts.
The price of outsourcing the bookkeeping is much less than the cost of hiring someone. Also, a fixed fee bookkeeping service means you only pay for what you need – nothing more and nothing less.
3. EXPERTS ON CALL
By hiring a reliable resource, you’ll have an experienced team at your fingertips should you ever have a query or burning question.
You’ll always be able to access the accounting expertise, so you can have peace of mind all year round.
4. BUSINESS ANALYSIS
You may not have the money to invest in the latest financial reporting systems – but you can rely on us to have state of the art tools.
An outsourced accountant can provide you with detailed financial reports and explain these to you, so you can see exactly which departments are overspending or what part of your business is the most successful.
This can really help identify areas for growth and improvement within the business.
Is your business ready to start outsourcing your accounting & bookkeeping?
Message me via Inbox for a free no obligation quote or contact 1300 59 00 88.
Monday to Saturday
Virtual Business & Accounting Services
Level 33, 264 George Street
SYDNEY NSW 2001
POSTAL: GPO Box 1828
SYDNEY NSW 2001
PHONE : 1300 59 00 88
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