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Even though you find someone who looks good on paper, unless you know very well what reports to ask for...

Some small and medium enterprise (SME) owners try to do their own accounts or they might employee an accountant immediately. This can be good if you're fortunate enough to hire a good bookkeeper right, however unless you have an accounting background and an intensive knowledge of the accounting software involved, it can be difficult to understand what questions to ask at the interview process.

weeks to get if they're doing or not even if you find an individual who looks good in writing, until you know what reports to require it. More Than 506 of customers which come to us experienced a negative experience wanting to employ a bookkeeper immediately. Frequently within the very first week we learn things such as:

Double payment of creditors accounts

Underbilling of revenue

Incorrect GST code usually causing underclaiming GST Credits

Mistake of payroll and superannuation tax of contractors and employees

These mistakes can be extremely costly and often final for some firms.

Heres 7 ways an expert onsite accountant can save you money:

1. Assist you to work with your business, not in your business!

I understand, its a classic chestnut from that excellent book E-Myth and which forms the cornerstone to most business teaching techniques. It is the main element to to be able to grow any business and relates to bookkeeping just like any other section of your business.

You still need to check the caliber of their work, when they work, when they take holidays, etc, if a bookkeeper is employed by you. By outsourcing all of one's accounting and bookkeeping functions to an expert accountant, all of one's records jobs become their responsibility and you can focus on growing your company, with the confidence that you are receiving exact reports on your performance and meeting all statutory obligations.

2. An onsite accountant gets to know your organization

There are some bookkeeping companies offering to take care of your reports from their office which could be based anywhere in Australia or as far away as India. This requires shifting source documents either electronically or physically back and forth from your company to theirs. It can prove difficult when your business begins to grow, while this can be good for micro companies.

You need to know how a company works and what are its key performance indicators, before you can offer meaningful administration reports. The only solution to achieve this effectively is always to get acquainted with the company and the people who work within the company. This can only be performed by doing the bookkeeping functions at the clients areas.

3. Theres bookkeepers and then theres bookkeepers!

There can be an enormous difference in skill level of men and women that call themselves bookkeepers. People representing themselves as bookkeepers can range from data entry clerks through to capable management accountants, just as an chippie and his boss with 30 years design experience might both call themselves contractors.

A professional bookkeeping organization should be licensed in the accounting software utilized by your organization and they should have certified accountants to aid their bookkeepers make it possible for them to offer a management accounting degree of service.

I really hope this gives you a few ideas of how using a professional accountant can keep your business money. brisbane bookkeeping