As a business owner, I appreciate that spending money on services can be a daunting predicament. Sure, in the short term, it may seem like a good idea to do your own books. But what by doing it yourself you are actually missing out on uncovering opportunities that will result in growth, greater profitability and sales?
How you might ask. It’s simple. A bookkeeper undertakes training and has the knowledge required to understand the laws relating to Goods and Services Tax (GST), Business Activity Statement (BAS), Superannuation and Pay As You Go (PAYG). A bookkeeper will also understand the latest advances in cloud bookkeeping technologies.
Better yet, a skilled bookkeeper will be able to help you understand your books, provide detailed information regarding your financial situation and help you identify trends and areas for improvement before they become habit.
Below are five reasons why hiring a bookkeeper is essential for fostering business growth.
Bookkeepers are process people. We have to be, because we need to ensure payroll, BAS and other accounting functions are completed on time. At QBBS and our sister business BYBB, we work with you to develop bookkeeping processes that work with your business. We make sure you stay on top of your books and we educate our clients on common bookkeeping services.
Customisation of bookkeeping services to suit your needs
Just like two businesses are not alike, your business is likely to evolve on a regular basis. We have packages to suit businesses of any size. You can always scale up and scale down depending on your business situation. This is important because, it ensures fluidity and as you grow, you can be assured that your bookkeeping services will continue to grow also.
At QBBS and BYBB, we create custom chart of accounts for our clients. This ensures that you are able to clearly understand what products or services are creating most of your income.
Financial reporting and trends
Do you know when you had your most successful month? Are you able to determine why? Do you know how much profit you actually generate? Do you understand the differences between Gross Profit and Net Profit? If you don’t, chances are you are missing out on essential information that will help grow your business further.
Education and training
At QBBS we love training our clients on QuickBooks Online (QBO), so that they can better understand how cloud bookkeeping works. Training ensures that you appreciate the processes involved in bookkeeping and that your knowledge grows. By having a better understanding of bookkeeping, our clients discover that bookkeeping isn’t something to be feared. Rather, they see that bookkeeping is a fundamental service that can transform a business.
Essential business advice
Bookkeepers undertake significant training in order to become qualified. This ensures that we have excellent knowledge of business processes and can advise clients on a range of business processes. At QBBS, we provide advice on:
- How to choose the correct structure for your business
- How to find the right accountant for your business
- Different cloud computing apps to streamline your business
- General business tips and tricks