As a small business owner you probably have to juggle a number of roles in the business including reception, general manager, marketing manager, production manager and shipping clerk. Having said that, most small business owners also have to fill the important role as bookkeeper.
While bookkeeping is a statutory requirement, knowing your numbers is a critical part of running a successful business. In fact, up to date records lets you make informed business decisions and they also let you do year-end tax planning.
Make no mistake, your choice of accounting software is a very important business decision and we describe it as one of the foundation stones of your business. All too often we inherit clients who are using the wrong software in their business and as a consequence, they produce records that are nothing more than a ‘computerised shoebox’. This creates frustration and additional costs which conflicts with our client brief of helping you reduce the cost of compliance. For that reason, we also offer you and your staff training to use the software. The truth is, we want to be your accountant not your bookkeeper and spend more time together working ON your business and your marketing.
When it comes to accounting software, one size certainly doesn't fit all. When recommending the most appropriate accounting software program for clients we always address these three key questions:
- What Does Your Business Need? - Payroll, inventory, debtors, creditors, invoicing, Point of Sale or a full blown general ledger that lets you produce your own financial statements?
- What is your level of accounting skill?
- Do you want to use a cloud accounting program or a desktop package?
As such, your choice of accounting software will depend on your business needs, level of accounting skill and preference for a cloud based solution. For this reason we support a number of programs including Cashflow Manager, MYOB, Reckon (QuickBooks) and the cloud based solutions Xero (pronounced zero) and Saasu.
Of course, in some instances you might be too busy to handle the bookkeeping function so we also offer you a full bookkeeping service. We can handle your bookkeeping so you can spend more time working ON your business and your marketing. Alternatively, if you appoint an external bookkeeper we are happy to liaise and work with them.
CLOUD or CONVENTIONAL?
Increasingly our clients are opting for cloud based bookkeeping solutions because they let you run your business from work, home or on the go. All you need is an internet connection and your password. You can then access your data files via the internet and invite your accountant or bookkeeper to view your accounts at the same time. This means you can get bookkeeping assistance and valuable advice in real-time.
Cloud based programs like Xero allow you to log in to your data anytime from anywhere on your Mac, PC, tablet or smart phone. You can get a real-time view of your cashflow and while there are several cloud based accounting software programs on the market, we emphasise the need to consult with us first as the wrong program can prove costly in the long run.
Cloud based (online) bookkeeping has a number of advantages over traditional desktop bookkeeping and you have the freedom to view your financial data from wherever you are, no matter the device and there’s no more waiting to update your financial records on the office computer. Your data is never out-of-date and software updates are free and automatically installed when you login, saving you the need to purchase the newest version of the software. There’s no need for data back-ups as they are automatically done for you and you can work on any system including a Mac or Windows computer. Your data is also secure, even if your computer is lost or stolen.
All your invited users have access to the latest version of your financial data and ultimately the idea is to let you spend more time working ON your business and less time doing your books. We believe you really want help to increase your sales, attract more customers and grow your profit so we also give you access to one of the world’s most successful marketing programs, the ‘Business Growth System’. This vault of resources contains more than 2500 pages of marketing tips, tactics and techniques supported by videos, templates and checklists. This program would normally cost you $500 per month ($6,000 per annum), however, as a client of the firm you get unlimited FREE access. In addition, we also give you FREE access to the ‘Grow Your Business in 5 Days’ video training course that will help you jump start your marketing. Both these resources have the potential to grow your sales, profits and business value.
If you're an ambitious business owner we invite you to book a FREE, one hour introductory consultation to discuss your bookkeeping and business requirements. You can expect practical business, tax, marketing and financial advice and to book a time, call us today on (03) 9583 9944 or complete your details in the box at the top right hand side of this page.