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November 24, 2014

Smart Bookkeeping For Small Business

Bookkeeping is one of the more tedious tasks every business owner has to contend with when running a business. A lot of startup entrepreneurs tend to make the mistake of assuming they only need to hire a bookkeeper Melbourne only when their business is thriving and growing rapidly. Why Hiring A Bookkeeper Melbourne Makes Sense The truth is, hiring a professional and certified bookkeeper Melbourne will not only save you time performing bookkeeping yourself, it can also turn out to be a highly cost-efficient approach. Why? For one, with a reliable bookkeeper, you don’t need to constantly worry about meeting deadlines and avoiding costly mistakes. Benefits of Professional Bookkeeping In addition, your books are constantly updated which means you can […]

November 17, 2014

How to Prepare Financial Statements: The Income statement

Since your income statement shows a net profit, you should be certain that anyone reading the statements would come away with a favourable impression. You now understand that the outsider is not looking at the income statement for this period alone. He usually compares your current year’s income with the previous years’ statements to be sure of the progressive financial health of your business. Your profit and loss statement should properly demonstrate how much your business has earned during a given period of time. Prepare a profit and loss statement by listing all of your business earnings during the given time. Break them down by category, e.g., wholesale and retail sales. Below the income section of your profit and loss […]

November 14, 2014

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