Why bookkeeping is essential for your business - BUSY01 and First Class Accounts Ovens and Murray

Why bookkeeping is essential for your business

As a small business owner, do you need a bookkeeper, an accountant, or both?

Bookkeepers can seem a little mysterious. In fact, they deal with the organisation, the recording and the reporting of financial transactions of a small business.

Most importantly, a bookkeeper clears the way for the accountant to work with your business strategically.

This means: keeping track of daily transactions, sending and managing invoices, handling the accounts payable ledger, keeping an eye on cash flow, and preparing the books for the accountant.

When you’re hiring, make sure you ask whether a bookkeeper has an area of specialisation.

Some bookkeepers may be able to help train staff in using online accounting or POS systems or give you advice on business processes.

One of our specialities is Addon Apps. We specialise in understanding the different options for different industries and businesses. We provide you with insights and guidance on what Apps would best suit your business.

If you need help improving efficiencies in your business to save you time and money, there's probably an App for that. Give us a call to see if we can help

For more information on the difference between bookkeeping and accounting, head to this article from Xero