TRUTH: Running a small business can feel like a 24-7 job where you wear all the hats, feel pulled in every direction and are time poor.

If you are working in the family business part-time as a stay-at-home mum “doing the books”, or are in busy growth mode and you’re struggling to do everything – you need a bookkeeper!

Accurate and efficient bookkeeping Sydney services for small businesses will help manage your cash flow and expenses, while helping you to save money by eliminating mistakes and missed payments caused by lack of knowledge or time.

In this blog, you’ll learn why you need a bookkeeper and how they can benefit your small business.

What is a bookkeeper?

Behind every thriving business is a great bookkeeper! They look after the financial aspects of your business, making sure you can pay your bills, have a healthy cash flow and up-to-date records come tax time.  

At Accounts All Sorted, we become an extension of your business by assisting with the financial operations so you can devote your time to work on business growth strategies and spending time with your family. 

Bookkeeping services: What is the role of a bookkeeper?

The overall role of a bookkeeper is to give you vital financial information to help you make the right decisions for the future and growth of your business.

And they do this in a number of ways from general daily tasks, to BAS and strategic business advice and direction, regardless of whether you are a sole trader or a business with employees

Generally, a bookkeeper can help with:

  • Day-to-day bookkeeping needs: Reconciling account transactions, quoting, managing bank feeds, generating and paying invoices and collecting debts.
  • Updating your bookkeeping software (for example, Xero, Quickbooks, MYOB and so on)
  • Software and bookkeeping training 
  • Compliance and maintaining up-to-date records
  • Payroll and super
  • Admin support and data entry 
  • Business advice and strategic direction
  • Assisting your accountant and keeping you prepared for tax
  • Preparing financial statements

10 significant benefits of using a bookkeeper

Many businesses start out doing their own books and quickly realise they need a bookkeeper! The number one benefit of using a professional bookkeeper is how much time and money they can actually save you. Plus, there are many other benefits, including:

  1. Skills and experience: A helping hand to look after the financial heart of your business.
  2. More confidence in your numbers.
  3. Less stress and more time to work on your business (or be with your family).
  4. Managing and maintaining your cash flow.
  5. Minimising business expenses to save you money.
  6. Helping you create and stick to a budget.
  7. Paying your bills, tax and GST obligations on time.
  8. Keeping your business organised and your financial records up to date.
  9. Giving you another view on your business and money-making ideas.
  10. Answering your questions.

What stage of business should you invest in a bookkeeper?

There are generally four stages of business where you need a bookkeeper.

  1. You have just started your business and are doing the books yourself, but want to be shown what to do so you can do it properly.
  2. The business is growing and you are struggling to find the time to keep up with all the requirements.
  3. You need specific help, such as quarterly BAS.
  4. The business is established and now has payroll, super and other legal obligations that need to be handled by a professional.

7 signs you need a bookkeeper now!

At Accounts All Sorted, our clients are busy helping to run the family business or running a business with a growing team, and there’s simply not enough time to do everything.

So how do you know if you need a bookkeeper? Read on…

  1. There’s not enough time to get everything done.
  2. You don’t know your numbers or if you are trading profitably.
  3. You procrastinate the bookkeeping tasks because you don’t enjoy it or are not confident in your skills and knowledge.
  4. Your books aren’t up to date most of the time or it’s a rush to get them done each quarter.
  5. You only do your books once a year at tax time.
  6. You’ve missed tax and BAS payments.
  7. It’s costing you time and money. 

Bookkeeping packages for small businesses

At Accounts All Sorted, we become an extension of your business and your financial partner. We can help you with your bookkeeping in three main ways:

  • Full service: We take care of all your bookkeeping requirements so you can work on your business.
  • Shared service: We work with you to ensure you remain compliant and up to date.
  • Catchup bookkeeping: Ideal for those who have fallen behind and need assistance in getting their books up to date.

If this sounds like your situation, please get in touch and let’s have a chat to see how we can help ~ click here 

We support small businesses’ bookkeeping services all over Sydney and New South Wales (NSW), including the suburbs of The Hills District (Baulkham Hills, Bella Vista, Beaumont Hills, Castle Hill, Kellyville, Hawkesbury and Windsor), as well as Central NSW including Mudgee and Orange, and the NSW North Coast including Newcastle, Taree and Port Macquarie.

Talk To Us Today