Top Reasons Why You Need to Hire a Professional Bookkeeper

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Top Reasons Why You Need to Hire a Professional Bookkeeper
Starting a new business is an exciting time! You have so much to do: create a logo,
design your marketing, pull together your store, shop or office, hire staff, order
inventory and office supplies... and so on, and so on. It's hard to keep up!
Money is always tight when you're starting a new business. You don't want spend
money where it's not necessary. After all, money is going to be tight for the next
little while.
That's why many new business owners "save" some money by doing two things:
Do their own bookkeeping Gold Coast, and
Use a spreadsheet like Excel to do it with.
It would to too harsh to say that these are big mistakes. After all, you want to
avoid unnecessary expenses. And if you don't have the money to pay a
professional right now, well, that's reality.
At the same time, I'd like to examine reasons why this might not be a good idea.
In fact, it just might be the case that engaging the services of a professional
bookkeeper might be a great way to spend some of your precious resources.
You can get your business set up correctly. Whether it be a sole
proprietorship or corporation, setting up various accounts is important,
Creating all the accounting categories you'll need to track your activities
Sales tax accounts with the tax man
Payroll source deductions with the tax man

You avoid huge mistakes that you'll have to pay to have corrected down the
We've spent hours fixing mistakes such as, not knowing the difference
between an asset and expense.
If meals and entertainment expenses happen, do you know how to
correctly record sales taxes?
You establish bookkeeping Gold Coast habits early.
Create a special place where all receipts are gathered
Learn how to annotate them so you'll know how they'll be categorized
Turn them over to be processed each month
Expect regular reports about your Business's Financial Story
You free up time for tasks closer to the "core" of you business.
What makes you more money: Sitting down in front of a computer doing
data entry, or talking with prospective and existing clients? No-brainer!
You take some worry away.
Getting a call or letter from the tax man saying this or that remittance
hasn't been done is stressful. Avoid this.
You start early to make business decisions based upon updated financial
When it's time to make a large expenditure, or hiring someone, you have to
know your numbers. They will help you make better business decisions.

You compare month-to-month and year-over year.
Proper bookkeeping Gold Coast professional services come with a lot of
reports that reveal how you are doing. By starting off the right way you
have access to all this information right from the beginning.
You'll be ready for your accountant, and he or she will charge you less
By presenting your accountant with a "clean" set of books you are doing
yourself and he or she a favour.
Your accountant wants to look things over make a few adjustments based
on your consultations, and get the tax return into the tax man.