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February 2, 2015

Bookkeeping Tips For Startups

For many small businesses, the most common bookkeeping errors are also the easiest to fix. If you don’t have a bookkeeper Melbourne to help you out, use these six tips to help keep your business on sound financial footing. Use the right accounting system. Most businesses use either cash-based or accrual-based accounting. If you use the cash method, you count income when you receive it and expenses when you pay them. Under the accrual method, you count income and expenses when they happen, not when you actually receive or pay them. In practical terms, this difference in timing is relevant if your company keeps inventory on hand or handles transactions on credit. In these cases, the accrual method might be […]

January 26, 2015

The Seven Best Bookkeeping Tips for Small Businesses

Bookkeeping for Small Businesses Bookkeeping is probably not the most exciting part of your day, but it is crucial component of running your own business that cannot be ignored. Whether you hire someone else to do it for you or do it on your own, it needs to be regularly maintained and monitored. In order to make that process a little less daunting, we’ve compiled some quick and easy bookkeeping tips for your small business. Seven Best Bookkeeping Tips for Small Businesses: Organization is essential If you start right from the beginning with an easy-to-follow and organized system, it will be easier for you to maintain and adjust it as your business grows. Research various bookkeeping methods on the internet […]

January 19, 2015

When Do You Need to Hire A Bookkeeper Melbourne

The revolution in cloud accounting software has blurred the boundaries between the roles of an Melbourne accountant and a Melbourne bookkeeper. Some bookkeepers have capitalised on their regular contact with a business to recommend other business applications adjacent to general ledger software, or to highlight key metrics in the business. Melbourne accountants, who in the past have sometimes dismissed bookkeeping as an unprofitable exercise, have seen the efficiencies in reconciling cloud accounting programs as an opportunity to expand their reach beyond annual reports. Although there were certain tasks that could only be carried out by a Melbourne accountant, accountants and bookkeepers agree that businesses benefited the most when an accountant and bookkeeper worked in coordination. The best role for a […]

January 15, 2015

Smart Bookkeeping For Small Businesses

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 use your financial records to make informed and intelligent decisions based on your financial health and business performance. No more guessing games and trial and error. With the help of your bookkeeper Melbourne , you can set up a budget and go over areas where you can improve […]