FAQ
Why do I need a bookkeeper?
Hiring a bookkeeper to assist in the financial operation of your business will allow you to devote your time to other more important things – like core business needs or spending time with your family. A professional bookkeeper will also save you money by eliminating mistakes and missed payments caused by lack of knowledge or lack of time. By working with accounts all sorted, you can rest assured knowing that everything will be handled on time and in a professional and compliant manner.
Can you help me catch up on bookkeeping?
Yes. Many new clients come to us because they have fallen behind. This service is included in your monthly or annual plan at no extra cost.
Can a bookkeeper do payroll?
We have bookkeepers proficient in Xero, Quickbooks and MYOB. Due to the variety of businesses run by our clients we are experienced in: ShiftCare, Tradify, Deputy, PayCat, ServiceM8, Fergus, Simpro. We are also proficient in the following sales platforms: Shopify, PayPal, AfterPay, ZipMoney / ZipPay.
Is there a difference between accounting and bookkeeping?
Bookkeeping refers to the process of identifying, recording, and storing day-to-day financial transactions whereas accounting interprets, summarises and reports on transactions with financial statements – Profit and Loss (P&L), Balance Sheet, Cash Flow Statement – as well as prepares tax documents for reporting purposes.
What is a Registered BAS Agent?
A BAS agent is registered with the Tax Practitioners Board and is able to lodge your BAS on your behalf and can provide advice on BAS related queries.
Will I lose control over my business if I outsource bookkeeping?
Your business is still yours, as are the decisions regarding it. Hiring a professional bookkeeper only assists you with the financial aspects of your business, not taking over the managerial or decision-making processes. You won’t lose control over your business if you hire a bookkeeper. All decisions are yours.
Do’s & Dont’s
Do:
Decide what online bookkeeping system suits you best
Get organised and stay organised. Set up a filing system to help you keep records safe and easily accessible
Make backup copies of your records
Obtain the required paperwork from suppliers and customers at the time the transaction occurs
Make sure you have a valid tax invoice before claiming the GST credits
Make sure your records contain the correct information
Provide your bookkeeper with correct information to ensure records are accurate
Set aside money to use to pay your tax obligations and any relevant employer superannuation contributions
Don’t:
Mix up business and personal paperwork: have separate business account and business credit card
Leave record keeping until the end of the quarter or the end of financial year
Use designated business money for other purposes
Wait until your in a financial mess before contacting your accountant to seek advice
Quick Links
Fun With Books Bookkeeping and BAS Agent
5/63 Thomson Street, Belmont, Victoria 3216
Fun With Books Bookkeeping and BAS Agent
5/63 Thomson Street, Belmont, Victoria 3216