Do you have a business?
No, really just kidding ;) though there is an element of truth to this. When we start out in business, we rapidly realise that we need to be an instant expert in Marketing, Sales, Accounts, Finances, PR, HR along with actually doing the work and trying make some money!
Bookkeeping, or more to the point, using proper Accounting software tends to be something many new business owners think they can do without, and honestly they probably can. However, you do have to find some way to invoice your customers, receive payments, pay your bills, track your money and look after those dreaded "taxes". Makeshift invoicing methods and using Excel spreadsheets or even the old ledger book work just fine, but how long will it take you each week, month and quarter? Perhaps that time could be better spent creating income?
The other problem with makeshift books is when it comes to tax time. Your Accountant will then have to piece your system together before they can lodge with the ATO and unfortunately you will have to pay for that service.
Setting up and using online Accounting software will save you way more than the $40 odd dollar monthly subscription. If set up correctly, many of the repeated tasks can be automated, so doing your own books will get faster and easier. Then, when it comes to tax time, all you do is invite your Accountant into your file where they can glean all the information they need. No double handling, no doing all the work, then paying someone else to sort it out for you!
So where do I start you ask? In Australia, the two most popular online packages are MYOB and Xero. I have used both extensively for various clients and my personal opinion is that MYOB is more user friendly but Xero is more powerful. It really depends on the needs of your business.
So back to my opening question, you actually probably don't need a bookkeeper but your business and sanity would benefit greatly from using an online Accounting package and a Bookkeeper is the best person to make sure that it is all set up running correctly, saving you time and money.
Convinced but still a little apprehensive? That's where I can help. My business specialises in setting up Accounting software, training you how to use it, then gradually stepping back but still guiding if required. To find out more, please drop by my website or send me an email. I'd love to help you :)
You can follow me on Facebook, Twitter, Instagram or Linkedin.
You may also enjoy:
Confessions of a Bookkeeper: Do you really need me?
I love to help your emerging business by creating:
A great set of Accounts to make your life easier and your Accountant happy
Effective Social Media profiles that will bring your more business your way
I'll even train you how to use them!
"Eclectic mix of Bookkeeper and Social Media Marketer"
iManage Professionals Perth