Bookkeeping is the process of maintaining an accurate record of a company’s business transactions. Business reports are generated using bookkeeping numbers and used to help maintain profitability. Before determining whether you want to invest in a bookkeeping service or try doing the bookkeeping yourself, you need to understand the many advantages of accurate bookkeeping. Administration Accurate bookkeeping provides up-to-date figures a business owner or manager can access at any time to decide on whether to make an investment or plan a capital purchase. It also helps deliver a complete package to the ATO when reporting taxes, lowers the possibility of an error that could trigger an audit and eliminates the expense of in fees and penalties from having to file […]
