Our bookkeeping gurus will get your books set up and up to date the right way, so it all makes sense and keeps the ATO on side. Let us do it all or help you do it yourself. Its up to you. And to really sort things out choose our optional profit service to get your business financially fit
Profit First is a fool-proof guide to understanding your business’s bookkeeping and your financials and it’s helped hundreds of thousands of businesses just like yours. It’s an eye-opening experience designed to help you protect your business from failure by generating planned profit year on year.
Accountants Direct is Australia’s largest Profit First Accountant. Book a free chat with our team today and we will send you a free hardcopy of the best-selling Profit First book with over $50.
Clients love Profit First because, once set up, they don’t have to think too hard to manage their cash flow and profitability. It’s a systemised way of managing your businesses finances without having to understand complex accounting.
They love it because its so easy and effective.
We’ve been using it in our own business for years with
As Australia’s first specialist over-the-phone accountant, over time we’ve developed a unique system to allow the safe and convenient delivery of expert ‘live’ services to thousands of clients worldwide.
Bookkeeping has been around since man starting trading in goods (about 7000BC) and is the task of tracking and recording a businesses transactions then weekly or monthly distilling the information into reports that show if the business is making or losing money. Keeping a ‘handle on the numbers’ a vital compnent of business success or failure and should not be taken lightly.
There are many forms of Bookkeepers who do basic standard data entry to advising on business strategy – such as Profit First. The basics involve tasks such as invoicing, paying bills, doing BAS, monitoring key performance indicators etc.
Bookkeepers usually perform daily updates of a business’s financial records (the books). But with the advent of new software they have been able to perform other tasks, such as Profit First Accounting (see our Profit First pages in this website). Accountants analyse, summarise and report on the data that bookkeepers gather. Theres reports give a snapshot of the performance of a business, and determine if any tax is owed. Getting qualified as an accountant requires much education (Bachelors Degree minimum) and training in tax (Tax Agent Licence) and other laws with which businesses need to comply, plus finance and business management. While some bookkeepers may have developed similar skills, that level of training isn’t required to be called a bookkeeper. Accountants Direct is a Public Accountants who employ bookkeepers we work with closely.
There are various things to consider when answering that question. Business financial transactions takes time to record. While you are focused on growing your business and getting it to generate money, a bookkeeper will be vital. A bookkeeper can smooth out tax issues like BAS and (with your Accountant) can find expenses that can be claimed as deductions. Paying bills at the corect time to ensure cashflow is not comprimised is also important, as is keeping current (the ATO hate late lodgers). People do their own books if they are trained properly but will still require ongoing advice and oversight by professionals like the team at Accountants Direct.