While a bookkeeper may not seem necessary to keep a small business operating, a professional and experienced bookkeeper performs key functions that can add exponential value to your business, especially as it grows.
While there are many benefits of engaging a professional bookkeeper for your small business, here are 5 benefits to small business owners including:
- Help your business accomplish success
- Technology that delivers real time reporting
- Peace of mind your record keeping is accurate
- Have credible records if investigated by the ATO
- Develop and improve business systems
Help your business accomplish success
A bookkeeper can help a business accomplish success. How? By supplying an overall snapshot of where money is coming and going in the business. This can in turn empower the business owner to make changes where and if needed plus plan and budget for the future.
Technology that delivers real time reporting
Most bookkeepers will use cloud based accounting software to manage a business’s financials. Streamlining the financial management process to be online, rather than a manual process, increases efficiency and delivers real time reporting and record keeping.
Peace of mind your record keeping is accurate
Qualified bookkeepers have the expertise, training and resources to maintain accurate financial reports and data. Bookkeepers can receive ongoing training and support to stay up to date with changes to ensure ongoing effective and accurate bookkeeping processes.
Have credible records if investigated by the ATO
If the ATO investigates your business, having credible business records on hand is beneficial. Having organised, streamlined records and reporting, produced by reputable bookkeeping systems, make them easier to review.
Develop and improve business systems
Bookkeepers can use their expertise to suggest improvements to systems, compliance and software. They may also provide the principles for strategic analysis and forecasting in the business.
Bookkeeping Matters manages general bookkeeping, compliance, reconciliation and BAS preparation and lodgement for sole traders and small to medium business
Bookkeeping Matters are in business because we’re driven to see yours succeed. We genuinely want the best for you and will go beyond to bring order to your finances.
Find out more about how we can improve the financial management of your business by booking a consultation today on 0423 003 552.
Disclaimer: The information in this article is general information only.
Reference: Institute of Certified Bookkeepers Newsletter – December 2021