Choose the right bookkeeper
what should a bookkeeper provide
When looking for a “qualified bookkeeper” there are some things you should consider before taking the final step. A bookkeeper should have the following requirements to ensure that the financial recording process is accurate and tax effective for the client.
1. At least five years experience in the field of commercial bookkeeping.
2. Be a member of a professional association such as the Institute of Professional accountants or the Association of Accounting technicians.
3. Be a registered bas agent through the tax agent board, while this is not a requirement it does provide the client with the knowledge that their bookkeeper has the professional bookkeeping skills in respect to where items should be coded in regard to GST, be available to the clients when they need them and provide accurate and timely information
Small Business Accounting consulting and planning specialist
In today’s economic climate it is not uncommon for a company or any business to find out that they are having difficulty with cash flow or financial management due to situations beyond their control. The key is to have a financial management plan in place to prevent and combat these issues before they arise. If the bookkeeping methods are correctly in place then these situations should not occur and if your bookkeeper is truly qualified and professional they should also provide and offer solutions, answers and proper procedures to implement methods to continue running your business successfully. It is very beneficial for business owners and management staff to understand basic bookkeeping methods and procedures, how to use the software to full potential and a precise understanding of the daily, weekly or monthly reports. It is all so common for companies and management to become too complacent and blasé and to lose focus on the financial management side of running a business. Maintaining regular health checks through your bookkeeping methods is essential. Just being good at what you do does not make for success. Proper record keeping and accountability is an absolute must for you to make the right decisions for the ongoing development and growth of your organisation. So it might be fair to say that competent and professional business bookkeeping can not only assist in maintaining a healthy cash flow, but also help your personal well being by giving you peace of mind knowing your cash, financials and record keeping are accurate and up to date