Why You Need a Small Business Bookkeeper in Melbourne

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Why You Need a Small Business Bookkeeper in
Melbourne
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Why You Need a Small Business Bookkeeper in
Melbourne
1. A successful small business depends on good
financial management, and unfortunately, most
entrepreneurs dont have the time or resources to
keep up with their bookkeeping.
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2. The best solution? Hire a full-time bookkeeper
in Melbourne who can take care of all your
companys financial record-keeping needs so you
can concentrate on managing your employees and
growing your business instead of worrying about
the accounting aspect of it all.
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3. Here are the top three reasons why you need to
hire a small business bookkeeping in Melbourne.
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The importance of following these processes
1. There are many reasons why its important to
follow good bookkeeping processes, especially if
you want to run a successful small business.
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2. First and foremost, your profit margins depend
on your ability to manage your money effectively.
3. Your bookkeeping process will tell you how
much cash is coming in, what bills need to be
paid and when, and how much can go towards
funding new projects or investments.
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4. If you dont have a system for recording all
of these transactions, then its easy to lose
track of where your money is goingand that could
mean trouble down the road.
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5. Not only that, but without clear financial
records, it might be hard for you to take
advantage of tax breaks or apply for loans banks
and other lenders like to see detailed records so
they know they can trust you with their money.
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The importance of having your own processes
1. Hiring a bookkeeper to handle your accounting
is an obvious choice for any small business, but
that doesnt mean you should immediately bring on
a freelancer.
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2. If you can, create your own processes from
scratch. By creating systems yourself, youll
avoid being reliant on an outside source and
having to pay fees.
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3. For example, many businesses use QuickBooks or
Xero to manage their accounts although these
services can do some of your bookkeeping tasks
for you (depending on what features you need),
they require a monthly fee and are only as good
as their usersmeaning they may not be best at
calculating taxes.
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What happens when you dont follow your own
processes
1. With some companies, processes are put into
place by consulting with professional bookkeepers.
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2. But if youre running a business, it might
seem easier and more cost-effective to forego
that step and figure out your process on your own.
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3. At first glance, it makes sense. After all,
who would know how to run your business better
than you? But problems can arise when you dont
take into account what happens when something
goes wrongor even worse, if nothing goes wrong
but you need to grow or pivot quickly.
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4. Whatever solution seems best for one size of
business is not always appropriate for another
there is no one-size-fits-all solution.
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Contact us
Call us 1300 049 534
Website https//reliablebookkeepingservices.com.a
u/
Email enquiry_at_reliablebookkeepingservices.com.au