Hiring a Bookkeeper
October 2nd 2006 13:15
Doing the accounts for your small business can be a tedious and time consuming task. After a hard day at work the last thing you want to be worried about is writing out cheques or doing a BAS statement.
This is where a mobile bookkeeper can be of benefit to you and your business.
A bookkeeper can generally provide the following services:
• trial balances
• bank reconciliations
• profit and loss statements
• balance sheet
• accounts payable/receivable
• BAS preparation
• payroll (including superannuation & PAYG tax)
• software training
• cash flow analysis
The bookkeeping company will normally either work from out of your business site or from their own office. If working from their own office, they will generally collect paperwork from you on an as required basis, enter it into your chosen accounting system and return the documents neatly collated and entered.
You should ensure that the bookkeeper has some form of qualification in accounting, for example an Advanced Diploma of Accounting. Membership of an accounting body, such as the National Institute of Accounts is also a suggested requirement.
In terms of expense, you can look at paying anywhere from $35 per hour for a bookkeeper. To find a bookkeeper in your local area simply check the yellow pages.
It’s important that as the owner of the business you still have an understanding of accounting procedures and where your money is going. You don’t want to end up like Steve Vizard and in court accusing a bookkeeper of embezzlement.
This is where a mobile bookkeeper can be of benefit to you and your business.
A bookkeeper can generally provide the following services:
• trial balances
• bank reconciliations
• profit and loss statements
• balance sheet
• accounts payable/receivable
• BAS preparation
• payroll (including superannuation & PAYG tax)
• software training
The bookkeeping company will normally either work from out of your business site or from their own office. If working from their own office, they will generally collect paperwork from you on an as required basis, enter it into your chosen accounting system and return the documents neatly collated and entered.
You should ensure that the bookkeeper has some form of qualification in accounting, for example an Advanced Diploma of Accounting. Membership of an accounting body, such as the National Institute of Accounts is also a suggested requirement.
In terms of expense, you can look at paying anywhere from $35 per hour for a bookkeeper. To find a bookkeeper in your local area simply check the yellow pages.
It’s important that as the owner of the business you still have an understanding of accounting procedures and where your money is going. You don’t want to end up like Steve Vizard and in court accusing a bookkeeper of embezzlement.
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Comment by Wendi
This seems confusing to me because without a set of books of your own, how can you make sure the accountant isn't ripping you off? Just by double checking their work? And if you've got a working knowledge of accounting to the extend that you can double check their work, why would you spend the cash on hiring an accountant in the first place?
This is one of the problems I struggled with when opening my own family business last year. I kept the business open for six months, then shut it down for restructuring because of problems like this... I realized I was trying to run before I could walk and needed to work out a few details.
Thanks,
W
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