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Why You Should Get Help With Your Bookkeeping

Bookkeeping is something many entrepreneurs try to do on their own, even when they struggle to find the time and lack the expertise. With a number of accounting software programs available, they feel they should be able to manage things just fine. 

If you are a start-up business, you may find bookkeeping fairly easy to do as you probably have less complicated financial transactions and more time on your hands. However, hiring a professional to take care of this tedious task for you will give you more time to grow your business.

Now, before you hire a bookkeeper, make sure to read up on these important details.

The scope of bookkeeping work

By definition, bookkeeping is a preliminary step to accounting that involves the recording of day-to-day financial transactions and information pertaining to a business. However, there are many things a bookkeeper does other than record keeping. This includes the following tasks:

  • processing purchases, sales, invoices, bills, payments, and receipts
  • bank reconciliation
  • tracking of daily company expenses
  • processing payroll/maintaining employee records and entitlements
  • generating financial reports
  • preparing a BAS or Business Activity Statement

When to get a professional bookkeeper 

Yes, you could save money doing it yourself. But, if you lack the time, knowledge and interest for bookkeeping, just leave it to a professional. In fact, hiring an expert will save you more than it will cost to correct errors in your books or the value of the time you could have spent more productively elsewhere.

Hiring a full-time bookkeeper is particularly critical when you already have plenty of employees or your revenue rises above the $1-million mark. Until then, you could simply outsource your bookkeeping to a professional or third party provider who can work part-time or according to your business’ needs. 

Finding a bookkeeping expert

A good bookkeeper not only holds certification and trade qualifications but also has ample work experience and knowledge of bookkeeping software. 

To find someone who possesses all these qualities, you have to do your homework. Through our website, you can research local professionals, their qualifications, and their work profile. You can also view client testimonials if you want to know more about a bookkeeper’s work attitude and professionalism. Most importantly, you can get competitive quotes to help you maximise your budget. 

Make sure to review your options carefully to ensure you get quality services at a sensible price. 

Latest reviews

  • Still early days but very excited to have Eric by my side going forward. Business doesn't come naturally to me, but with Eric's input I can clearly see where changes and improvement need to be made. The numbers don't lie! Manu

    Left for Savvy Numbers
  • I fully recommend LKR Accountants, it's the first time I've used their services and I was very impressed. Leanne Ross was extremely well prepared and professional, I will definitely be using their services again. Thankyou.

    Left for LKR Accountants

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