Better Bookkeeping

Bookkeeping – you mean the “paperwork” right? Wrong. Today bookkeeping is the online data collation and management of everything that goes on in your business. Get it right, operations flow smoothly, and management gets better data for better decision making. Get it wrong and a business can literally go broke – poor information, poor cashflow, game over.

Bookkeeping is a core accounting skill. Today, it is also highly dependent upon using the right technology for capturing data in your business. What other people use may or may not be right for you. And, once that is settled, the processes around the technology should be streamlined to ensure all data is captured on a timely basis. 

A Better Bookkeeping plan for your business will see your team upskilled where needed and the right processes put in place to ensure complete, accurate and timely data processing and reporting.

The steps to Better Bookkeeping are as follows –

1. We listen to the concerns you have and review your current processes and reporting.
2. We assess your current technology and the fit with your business and needs. If we believe there is a better option, we will engage you to take the steps to confirm this. This may be a significant engagement and utilise our Business in the Cloud service. If so, we will work with you to determine if steps should be taken now to improve what is now in place whilst that review occurs.
3. We look at staff skills and current processes to identify areas for improvement. If appropriate, we will recommend training to be undertaken by team members.
4. At this stage we can outline the steps to be taken, allocating responsibilities – develop the Better Bookkeeping plan for your business and your team.
5. Changes are implemented, ensuring the team is engaged, informed and able to move forward.
6. We will check in over the following couple of months to ensure the team is on track and will include phone support in our proposal.

1. You are more confident that the right processes are in place.
2. The right data is produced at the right time.
3. Staff are more engaged because they can see the ‘why’ of their tasks and have been upskilled to meet the challenge.
4. Stakeholder requirements are met on a timely basis – the right bills are paid and paid on time, invoices go out when they should, collections are monitored, wages reconcile, bank is informed, owners are informed.
5. Frustrations due to lack of data are reduced.
6. Because your team is producing better data, our role as your accountant is made easier, particularly when it comes to reviewing results for the business, assisting with lodgements and preparing financial statements and income tax returns.