Bookkeepers of Melbourne, Bookkeeping

5 Easy Ways to Take Control of Bookkeeping without Wasting Your Time

Thousands hire bookkeepers Melbourne for their small business and it can be an excellent idea. Unfortunately, bookkeeping is really a complex area if you have no knowledge about it. For the most part, bookkeeping looks very simple and straightforward but in another light, it’s difficult and often catches a lot of people out. It doesn’t have to be the one thing that lets your business down and the following are just five simple ways to take control over your books.

Hire a Bookkeeper Part Time

Hiring bookkeepers on a part time basis can be an excellent idea. They will be able to handle the majority of the work and you can handle the rest. You still have control of the books and you can also feel more at ease knowing the books are being handled by professionals. Bookkeepers Melbourne can deal with most of the basic tasks and ensure everything is in order. It’s a simple way to keep things in good order.

Consider a Weekly Check of the Books

You need to keep on top of the books whether you’re doing them yourself or having someone else handle them. It’s wise to have a weekly check of the books so that you can analyse them and find any inconsistencies or mistakes. This will allow you to pick any issues up quickly and fix them before they become a bigger problem. Also, it helps to keep you in control of what’s happening rather than someone else.

Learn the Basics and Input the Data Yourself

Bookkeepers Melbourne can be a great idea but for some, they don’t always have the money to hire one on a full time basis. That is why you need to look into educating yourself so that you understand the basics of bookkeeping and are able to handle them with ease. Inputting all data will allow you to also get the control you want. Learning the basics can seem like a tough task but after a little while it gets easier and you’ll love it.

Think about

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Seven Bookkeeping Tips to Save Time and Money

If you’re a bookkeeper, chances are you’ve wondered how to save you and your client both time and money. Often times there are a few different steps you can take to reduce the time you’re spending, which makes your client happy and reduces everyone’s general stress level!

Use accounting software, keep track of receipts, separate accounts and use your CPA

Quality accounting software, such as QuickBooks, can be an enormous time saver for any bookkeeper. It makes keeping track of cash flow, both in and out, reconciling bank statements and creating custom reports a breeze. There are classes out there that you can take to help become more familiar with the software and how to best use it for your small business client. Taking one is highly recommended. You can also train family members (if you own your small business with family) or even hire a college student intern to learn the software as well. It’s always good to have a backup in case of emergency or vacation. It’s also best to work closely with your CPA (you should be in contact at least twice yearly). They can advise you how to best make use of your money by looking at your bookkeeper software reports and seeing what the trends are. Make sure you’re scanning all appropriate receipts from purchases, business cards for client accounts and any other applicable paperwork directly into the system to keep everything in one place. Also keep your personal and business account separate to minimize confusion and stress.

Avoid cash, go paperless and keep track of your mileage

Another tip for bookkeepers to pass on to their clients is to avoid cash. Debit and credit card purchases can be tracked much easier than purchases that are used with cash. Don’t lose potential write offs to this rookie mistake! If you do need to use cash, write the reason why on your ATM receipt so you can still itemize. Another thing to consider long term is a fireproof safe or offsite storage up the required … Read the rest...