Bookkeeping Gold Coast

A bookkeeper is a highly essential role for any business. Without a bookkeeper to pay staff, pay bills, and keep track of spending, a business would not be able to operate.

A bookkeeper will monitor and record how a business makes money and spends money, pay employees their salaries, pay suppliers for products and services, manage cash payments, etc.

The general duties of a bookkeeper comprise:

• recording financial transactions
• balancing the books
• cross-referencing the books with bank statements
• performing daily banking activities
• processing client and customer payments
• managing accounts receivable
• calculating GST
• preparing and lodging BAS
• paying staff (payroll) and suppliers (accounts payable)
• producing monthly financial reports
• preparing tax returns

The above compilation is not a complete list of bookkeeping duties; there are more advanced duties that some Gold Coast bookkeepers will also be expected to perform. Such duties include training, EOFY reporting, implementing a business process, and managing business budgets.

Suffice it to say; it’s not enough to put on your bookkeeper hat for a couple of hours a week. Bookkeeping is time-consuming, yet it is very necessary for every Gold Coast business. The beauty of bookkeeping is that you don’t have to do it all yourself. You can choose to do some bookkeeping in-house and outsource other bookkeeping duties. Our blog post, Bookkeeping: What To Do In-house & What to Outsource, will help determine what duties may be better left to our professional Gold Coast bookkeepers.

If you want to reduce your bookkeeping hours, contact the best Gold Coast bookkeeping service, Grow Advisory Group, today. We have a team of experienced bookkeepers to relieve you of your bookkeeping duties.

One of the most common questions our Gold Coast clients ask is: What bookkeeping software should I use? The top three are Xero, MYOB or Quickbooks, which we specialise in. However, the best solution for your business may not necessarily be the most used or highly recommended solution; the answer will vary from business to business.

If you look at creditable sites like Canstar and finder.com.au, the areas they focus on in the comparison and decision-making process are:

• Value for money
• Ease of Use
• Functionality
• Ease of Integration
• Reporting
• Customer Service
• Security
• Mobile Options
• Trial Period
• Room for Growth

The most important areas here are ease of use, functionality, and ease of integration. If your solution lets you down in one of these three areas, it can be a nightmare to overcome; you may need to change to another solution.

We recommend you review the pros and cons of the three leading bookkeeping software before deciding. Better yet, contact us today so we can review the setup of your Gold Coast business and recommend the best product for your business needs. Making the wrong decision now can lead to years of frustration.

Learn which accounting software Is best for your small business by reading our articles, ‘Which Accounting Software Is Best for Small Business?‘, ‘How to Choose the Right Accounting Software for Your Business‘, and ‘9 Reasons Why Xero Is the Best Accounting Software for Small Businesses‘ or call our team.

Book keeping for a small business is, thankfully, a lot less complex than book keeping for a large business or company. Often, the bookkeeping duties are performed by the business owner or office manager, who requires no official bookkeeping training.

The key to business success often lies in the bookkeeping setup and structure. So, it’s vital to get your bookkeeping done right from the get-go.

The best way to achieve this is to align your business with a Gold Coast bookkeeping company that offers bookkeeping services and advice. A bookkeeping company such as Grow Advisory Group reviews your business setup and recommends the right services and software required for your business. It may be a one-time consultation to get your business up and running, or it may be an ongoing partnership – where your hand over your book keeping duties to a professional Gold Coast bookkeeper.

Don’t underestimate the importance of book keeping, and the scope of your book keeping duties. There are daily, weekly, monthly, quarterly and annual book keeping tasks that need to be conducted to ensure your business stays compliment and on top of its tax and BAS obligations. Moreover, having up-to-date books will make your business easier to sell in the future.

The CPA’s GOOD PRACTICE CHECKLIST FOR SMALL BUSINESS document is a great tool to help you get started. It outlines the required tasks and their frequency to ensure you stay compliment and on top of your accounting obligations.

If you would like any assistance with your bookkeeping and accounting duties and obligations, please, give one of our Gold Coast bookkeepers a call. We have a wide range of bookkeeping and accounting services to assist Gold Coast businesses just like yours.

Learn the difference between accounting and bookkeeping here. 

As a small business owner, one of your most important responsibilities is keeping track of your finances. This can be a daunting task, especially if you don’t have any experience with bookkeeping. Fortunately, we offer several bookkeeping services that can take care of the financial side of your business, freeing up your time to focus on other aspects of running your business.

Our bookkeeping services can help you keep track of your income and expenses, prepare financial statements, and pay your taxes on time. They can also help you create a budget and maintain financial records. In addition, our bookkeeping services can provide valuable insights into your business’s financial health. By working with Grow Advisory Group, you can ensure that your business is in good financial shape and avoid any potential problems down the road.

Learn more about the benefits of bookkeeping services by reading our article, The Benefits of Bookkeeping Services for Small Business Owners and The Critical Importance of Bookkeeping for Business.