Can you believe it's nearly the end of financial year? This year, that means the cold has finally kicked in, but for many it's also that dreaded time when you have to dig through a nasty pile of paperwork, figure out what needs to be sent to the accountant and then wait for a nice hefty bill. But wait! There are other options!
As an organiser I can definitely help you sort out your paperwork and set up a system so you can what you need when you need it. This will save you a lot of time, but of course you still have to pay your accountant to make sense of the numbers.
The most cost effective and time efficient option is to use the services of a bookkeeper. To help me explain why you should consider this option and how they help, I asked my friend Jeanette Burnley who has 38 years (!!) experience bookkeeping and a passion for making her clients lives easier.
Better use of your time
One of Jeanette's clients is a Plumber (let's call him Tom) who used to spend a whole day on his weekend invoicing, paying bills, chasing debtors, juggling his cash flow, satisfying creditors. He could have been doing plumbing work that gets him paid or doing what you're supposed to on the weekend - relax! Luckily, Jeanette came in and now does all this in 2.5 hours a week, freeing up a whole day for him and improving cash flow too.
Peace of mind
Jeanette has a comprehensive checklist each month to check that everything is in order and you are compliant. These regular checks mean its nice and quick to keep your books in order instead of building up to a mammoth task at the end of the financial year. Tom now has peace of mind that it's done correctly, and that his accountant gets what they need, before any tax deadlines. It also saves money as less for accountant to do.
Specialty Knowledge
Bookkeepers know about all of the industry specific rules when it comes to tax. And these rules are changing all the time. It's part of a bookkeepers job to keep up with all that, so we can concentrate on running our business and doing what we do best. Jeanette makes sure you meet deadlines for BAS, superannuation, group certificates etc.
I often hear people say they don't want others having access to their financial information. That's totally understandable, but a bookkeeper isn't just anybody. Jeanette has to do professional development, have certain qualifications, professional indemnity insurance, business registrations with the Tax Practitioners Board and other professional bodies. If you want to check if a bookkeeper is registered, you can search the Tax Practitioners Board website. They have to reapply every 3 years, so you know there is going to be a certain level of expertise and professionalism.
If you are growing your business, outsourcing to a bookkeeper is a worthwhile option to consider, saving you time and money and letting you run your business without that added stress.
Jeanette Burnley has been bookkeeping for 38 years, loves her job and the people she gets to work with. She is lovely person and easy to interact with. Jeanette can handle payroll, super, sales and purchases, and she can help you set up a system to suit for business, industry and volume so that you can easily provide the right information and documents to her to get the job done. She works with clients on a weekly, monthly or quarterly basis depending on what they need. Contact her on 0409 459 079 or email burnleys@optusnet.com.au
