Sydney-Bookkeeping.Com.Au

It’s tempting for small-business owners in Sydney to want to handle their own bookkeeping and tax preparation. After all, there is a lot of excellent accounting software such as MYOB or Quickbooks out there to help them.

And many business startups begin with a few partners who do everything, hiring outside contractors only when absolutely necessary.

But just because you can do something such as the book keeping or the paperwork, doesn’t mean you should. There are indirect costs involved with everything that falls into the do-it-yourself category.

These include the time you spend doing it yourself instead of tending to other business matters, and the possible missed opportunities that come with not having something handled by a full-time expert in that task.

At some point early on, most small businesses need to hand off their tax preparation, and at least some of their bookkeeping, to professional bookeepers.

A bookkeeper is going to be focused on properly recording the day-to-day financial activities of your business. This may sound simpler than the review, planning, and tax-return preparation activities that your accountant engages in.

But without good bookeeping, and good books, accountants can’t properly do their job. In fact, many accountants won’t even take on a business client if the client cannot produce an accurate balance sheet and is unwilling to hire someone who will get his books in proper order.

Good bookeepers will record all your receipts and expenses, track accounts receivable and payable, and in the course of entering all your financial transactions also create a balance sheet for the business.

As book-keepers, we can handle payroll services for clients; others prefer to work with dedicated payroll companies. Depending on the size of the business, our book-keepers may work with a client a couple of days a week, weekly, or even just once a month or quarter.