What is a Bookkeeper...

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...and do I need one?

A bookkeeper is the first step in a great business accounting setup. They keep a business on track with their finances, ensuring transactions are recorded accurately and efficiently.

To put it simply, having a bookkeeper work on your business will save you time, money and leave you free to focus on what matters most – your business!

How do I know if I need a bookkeeper?

Four signs that suggest you may need a bookkeeper.

You don't enjoy the bookkeeping as much as you use to.

It takes a lot of energy and time to run a successful business. You start finding yourself spending a large portion of your day or week keeping the financial records of the business up to date, just so you remain compliant and that you don't receive any penalties. This is why outsourcing your bookkeeping can be benificial. So that you can concentrate on growing a profitable business and also have free time for the fun stuff.

You're finding the bookkeeping confusing.

Staying compliant and up to date with your bookkeeping can be very time consuming. No matter how much research you do, reading the many articles on the ATO website regarding legislative and regulatory requirements, you may find yourself lost within the words because without proper training and experience it all seems so confusing. The law is constantly changing and you need to ensure you keep up to date with the changes.

You're not sure you're doing it correctly.

 You can’t be an expert at everything. There are so many rules surrounding the do's and don'ts of GST alone. If you do your bookkeeping to save money on the cost of a bookkeeper, you could potentially be missing out on GST credits, or even be making mistakes that could cost you greatly at the end of the year, as your Accountant will need to make adjustments. These adjustments are then charged at a accounting rate. In the end, it works out to be more cost effective to have your accounts entered correctly by a BAS Agent, which also gives you the added bonus of peace of mind.

You have fallen behind in all things bookkeeping.

As your business grows, so does the paperwork. If you don’t keep your account up to date and there are financial issues that have not been identified early, you can be headed for trouble without even knowing it. We help businesses catch up on their compliance, falling behind on your bookkeeping is a positive sign that you need a bookkeeper.

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PO Box 4293, Baldivis WA  6171

0437 330 835

© 2021 Insightful Bookkeeping

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ABN:   63 131 008 244