Why You Need a Bookkeeper & How To Find a Good One

Whether you’re a small business, a large corporation, or a sole trader, being active on the administrative side can take a toll. It’s hard enough to find the time to run your business, let alone worry about your bookkeeping and invoicing. It takes away time that could be otherwise spent on making money and growing a business, yet without it; there’s no money coming in; it’s a catch-22.

If you find yourself strapped for time, or the entire role of being a bookkeeper doesn’t agree with you, then the best solution is to hire a professional bookkeeper to take care of your bookkeeping duties for you. Best of all, you don’t have to hand over all your bookkeeping duties – you can still do some in-house and outsource those that are more time-consuming or require more expertise. (Read our post, Bookkeeping: What To Do In-house & What to Outsource, for more information.)

At Grow Advisory Group, we have a team of professional and experienced bookkeepers in Tweed Heads and the Gold Coast. We have a range of bookkeeping services and packages to cater to all business sizes, from sole traders to large corporations.

Hiring a bookkeeper costs money, so we understand your hesitation in wanting to invest in a bookkeeper in Tweed Heads or the Gold Coast. However, there are significant benefits to gain in doing so.

Continue reading as we discuss how a bookkeeper can help your business learn these benefits. We will also look at how to find a GOOD bookkeeper.

Why You Need a Bookkeeper

So, why do you need a bookkeeper? Well, for several reasons.

Aids Business Growth

Any business needs the business owner’s full attention for continued growth and success. When you have your mind (and attention) split between administrative duties and essential areas such as strategy, marketing, and funding, something has to give, and it’s usually the latter.

By investing in a bookkeeper, you can devote your full attention to key areas that help a business grow.

More Accurate Financial Data

As a business owner, you are obliged to make essential business decisions daily and often rapidly. The capacity to make well-informed decisions that result in desired outcomes depends on having access to accurate and up-to-date financial data. Keeping a regular track of your business transactions will help you make decisions that will help your business prosper or fail.

Reduce Your Accounting Fees

It will cost you money if you neglect to create any financial statements throughout the year and then delegate the duty to an accountant when it comes time to submit your taxes. The accountant will be responsible for preparing financial accounts from a previous period, effectively performing the functions of a bookkeeper, who is far less expensive than an accountant.

A bookkeeper can make sure that everything is in order so that your accountant can easily transmit the information. To save money in the long term, it is, therefore, preferable to engage a bookkeeper.

Learn the difference between accounting and bookkeeping here.

Create a Healthy Work-Life Balance.

When you’re limited on time, it’s easy to devote all your attention to your company’s most important objectives. The trouble is that you’ll have no time left over at the end of the day or week to spend with yourself or your loved ones if you continue in this manner. Therefore, you will lack the necessary balance that everyone requires to remain healthy and avoid burnout from what you are doing.

By investing in a bookkeeper, you can lighten your load, delegating the bookkeeping tasks to them to manage so you can create a healthier work-life balance.

Improves Cash Flow

Something is almost certain to get overlooked between running your business, putting out the everyday fires that crop up, and maintaining a healthy work-life balance. And it is typically the bills that have to be paid.

Bookkeeping encompasses more than just the preparation of financial statements and the filing of tax returns. A skilled bookkeeper will advise you of any outstanding invoices and which customers or vendors owe you money, among other essential details.

A bookkeeper will help you keep track of where your money is going and, in a nutshell, make your cash flow more stable. Learn more about our Cash Flow Management services.

How To Find a Good Bookkeeper

You only need to do a Google search to find a bookkeeper in Tweek Heads or the Gold Coast, but finding a GOOD bookkeeper is key. As outlined above, it can be the difference in better cash flow, happier staff and customers, more spare time, and quicker business growth, to name a few examples.

If you’re interested in investing in a bookkeeper or bookkeeping services in Tweed Heads or the Gold Coast, we suggest you adhere to the following tips.

Look Beyond a Google Search

It’s tempting to go to Google, type in  “bookkeeper Tweed Heads” or “bookkeeper Gold Coast” and let Google do all the work for you. While the top organic Google results hold merit, the merit is for their website, not the quality of service they offer or how good a match they are to you.

Google is a good starting point to locate bookkeepers in Tweek Heads or Bookkeepers on the Gold Coast, but it should serve as just that. It is up to you to create a shortlist and then do a little research into their offerings to determine if they’re a good fit for your needs and budget.

Ask The Right Questions

Not all bookkeepers are made equal, and not all can meet your company’s requirements. As you search for the ideal bookkeeper for your business, it’s critical to ask the appropriate questions.

Essential questions to ask a potential bookkeeper include:

• Are you fully registered and qualified?
• What is your degree of knowledge and experience?
• What is the scope of your bookkeeping work?
• How well-versed are they in your field?
• What methods do they use to communicate with their customers?
• What can you anticipate in terms of delivery and response times?
• Are you dealing with a bookkeeping firm or directly employing a bookkeeper?
• How do you safeguard your customers?
• What do your charge for your services?
• Which Cloud-Based Bookkeeping Software do you use?
• Who will hold the subscription to Cloud-Based Bookkeeping Software (Xero, MYOB, Quickbooks)?

Speak with as many bookkeepers in Tweed Heads or the Gold Coast as you need to. If necessary, interview them twice, and make sure to check their references and qualifications. It is also critical to consider personality and cultural fit. Even if they are not employed full-time, your selected bookkeeper will often communicate with you and your team. It pays to recruit someone who fits in well with your team. Hire someone friendly, helpful, and, most importantly, keen to help you reach your vision.

Do They Share Your Vision?

Speaking of vision, when most people think of bookkeepers, they see someone absorbed in the details, unable to glance up from their calculator and financial reports, and far too preoccupied to get involved in the larger picture of operating a business.

Yes, a bookkeeper should have exceptional attention to detail to keep track of numerous minor figures, but this stereotype is far from the fact.

Whether the bookkeeper is in-house or outsourced, they should be familiar with your business and share the vision you’re attempting to establish for your business. Because your bookkeeper will become such an essential element of your day-to-day finances, you need to find one interested and constantly aware of your business goals.

Why Grow Advisory Group are the Bookkeepers for you

We offer expert bookkeeping services to assist businesses like yours in meeting their bookkeeping responsibilities. Our bookkeepers in Tweed Heads and the Gold Coast have the experience, services, and solutions to help you with your bookkeeping needs. Whether you need an all-in-one accounting service or a certified bookkeeper to assist you with BAS, tax, Xero, MYOB, Quickbooks, accounts payable, or other bookkeeping needs, our Gold Coast or Tweed Heads offices can help.

Our skilled bookkeepers have a broad range of knowledge that covers all businesses and sectors. We employ qualitative analysis and primary intelligence to give you the greatest insights and guidance targeted not just to your industry but also the needs of your business.

We can serve your business from our three offices in Tweed Heads South, Varsity Lakes, and Nerang. To explore which bookkeeping package or service is best for you, request a free consultation with one of our trained bookkeepers.

Conclusion

Running a business is hard enough, let alone trying also to manage the administration and bookkeeping side of things. If you’re at your wit’s end, short on time, high on stress, and you don’t know which way is up, then investing in a bookkeeper may be the answer to all your problems.

A bookkeeper can free up some of your valuable time, allowing you to focus on the areas that help your business grow and succeed. They can also provide invaluable financial information to help you make important business decisions and, at the same time, reduce your accountant’s fees. Not to mention, this free time they create allows you to enjoy a healthier work-life balance. Lastly, a bookkeeper will improve your cash flow, which is always a good thing!

Give Grow Advisory Group a call if you’re looking for professional bookkeepers in Tweed Heads or the Gold Coast. With offices in Tweed Heads South, Varsity Lakes and Nerang, we are accessible and ready to help you and your business needs. We are experienced in your industry and care about your business and vision.

Call 07 5599 5700 today.

 

 

Disclaimer: The information contained in this blog is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from an accountant and/or financial adviser.