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Why hire a professional book-keeper? 

Why hire a professional book keeper?

There are some very significant financial and lifestyle benefits to hiring a professional bookkeeper on an on-going basis, and these are discussed below:

Save time and stress!

Most business people are very good at their business and spend a lot of time doing it.  However, most do not enjoy doing the paperwork that is required these days and many are intimidated by what is involved in preparing a Business Activity Statement and various other business forms.

A professional bookkeeper can give you peace of mind by taking care of these obligations for you, whilst freeing up your time to concentrate on your business or your lifestyle.

Enabling better business advice and decisions

When you get your financial reports from your Tax Agent after your annual Income Tax has been done the year that they relate to is already long passed, so those reports can do little to help you make decisions to run your business better.

With the ever-increasing list of government imposed requirements Tax Agents are generally very busy, and focused on getting all of their client’s tax returns completed by the dates prescribed by the ATO.  Between that pressure, and the fact that they often do not see your books until after the end of the financial year, they have limited capacity to suggest improvements in your business or to alert you to potential tax problems (or opportunities) before they arise.

On the other hand, having a professional bookkeeper maintain your books on a regular basis means an analysis of your financial position can be produced anytime at short notice – so you can take this current information to your Tax Agent or banker whenever you need advice or a loan.

The right systems

Most Tax Agents use accounting systems designed specifically for generating the financial information needed to prepare Income Tax returns.  These systems work very well for this purpose, but have limited or even nil capacity to:

    • Process your payroll
    • Issue your invoices and receipts
    • Report how your business is running against budget
    • Identify which segments of your business are most profitable
    • Track your inventory
    • Track your costs for a particular job for a particular customer
    • and so on…

    Contact Mountain Accountin' - Professional Book-keeping today to find out how we can assist you and your business.

 

 

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