What does Bookkeeping include?
Bookkeeping is a very broad term, and there are lots of functions that you can have a bookkeeper undertake for you.
Most small businesses owners are desperately trying to balance their time between servicing their customers, and undertaking the administrative tasks required to keep the business running smoothly.
Bookkeeping can include functions such as:
- Stock Control
- Chasing of debtors
- Paying suppliers
- Negotiating with banks and financiers
- Paying staff, managing entitlements, such as Accrued leave, Superannuation
- Preparing BAS and IAS returns
- Managing Superannuation, PAYG and Payroll tax.
- Setting up accounting software
- Bank Reconciliations
Why use a bookkeeper?
Depending upon the size of your business, you may need to undertake some or all of these pieces of work. For most people who have gone into business to follow their passion, and build a business doing what they love, none of these are exciting! However all of these tasks are important to ensure your business runs smoothly. Being able to understand and manage your cashflow is critical to your business survival. However “doing the books” often provides little perceived value to your customers. By outsourcing these services, to professional and qualified bookkeepers you will spend much less time, allowing you to spend more time working ON your business, rather than stuck in it.
Bookkeeping qualifications can range from someone who has done a bit of bookkeeping in a job, right through to fully qualified accountants. At Business First Technologies, we are CPA Qualified, and registered BAS Agents with the Tax Practitioners Board (TPB). We are able to provide a full range of services to help you manage your business better.
From providing simple advice in setting up your systems, to running the whole of your business administration, including the payroll, back office and debtor/creditor management, we can provide you the level of support you need, when you need it.