Tag Archive: bookkeepers

Are You Missing Income Due to a Bookkeeping Error?

It can happen to anyone to have missing income due to a bookkeeping error was done by a bookkeeper. But, what exactly should you do when this does happen? For a new business owner, this can be devastating when a large bookkeeping error does happen. If you are worried that this can happen, there are somethings that you can do to prevent it from happening in the first place.

What should you do when you missing income due to an error?

When it does happen that you are missing money because of a bookkeeper Melbourne mistake, there are a couple of things that you can do about it.

The first thing that you should do, is to go back to the beginning of the month’s bookkeeping and work through everything again. You can also ask someone with experience to go through the bookkeeping with you. Normally, you will find the mistake and you can correct it without any serious consequences.

It might also happen because you don’t use the right software, or you don’t really do your bookkeeping on a regular basis. However, there are some things that you can do that will prevent it from happening.

Doing bookkeeping on a regular basis

The first thing that you can do that will be able to prevent this type of error from happening, is to do your bookkeeping on a regular basis. You can’t leave it for the last day of the month before you try to do the whole month’s bookkeeping.

If you can’t find the time for the bookkeeping, you should consider hiring a bookkeeper Melbourne to do it for you. This can make things a lot easier.

The software that you are using for bookkeeping

The type of software that you and your bookkeeper are using for doing the bookkeeping can also have a big influence on mistakes that can be made. This is because not all the software is high-quality software that you can trust and that will not make any big mistakes.

You should make sure that you are updating your software all the time, and you need to make sure that you are going to purchase the most recommended software for bookkeeping.

Make sure that you hire an experienced bookkeeper

The last thing that you can do is to make sure that you don’t hire an inexperienced bookkeeper to do the bookkeeping of your business. If you don’t have the funds for an experienced bookkeeper, you can consider outsourcing your bookkeeping to a company that specializes in bookkeeping. Making it easier to have bookkeeping that is error free.

Errors do happen when you are doing the bookkeeping of your business. This does happen especially when you don’t have the right experience or when you don’t hire the best bookkeeper in the area. Making mistakes about bookkeeping can influence a business a lot, and therefore you should make sure that you are always considering hiring the best in the market. You can also consider hiring a bookkeeper that is doing the bookkeeping privately.

Can Clоud Accounting & Bооkkееріng Prоgrаmѕ Rерlасе Bookkeeper


You’re рrоbаblу wеll aware of the rіѕе of cloud-based bookkeeping programs ѕuсh as QuісkBооkѕ Onlіnе, Wave, Xеrо, Frеѕhbооkѕ, еtс. Thеѕе рrоgrаmѕ сеrtаіnlу make a buѕіnеѕѕ оwnеr’ѕ lіfе еаѕіеr. Wе соuldn’t agree mоrе! In fасt, thеѕе programs are іnсrеdіblу hеlрful tо bооkkеереrѕ and ассоuntаntѕ аѕ wеll. Nеvеr bеfоrе іn hіѕtоrу hаѕ bооkkееріng bесоmе mоrе ѕtrеаmlіnеd, transparent, аnd flеxіblе.

Some limitations of the сlоud-bаѕеd systems

Dеѕріtе thе аdvаntаgеѕ оf thеѕе рlаtfоrmѕ, сlоud-bаѕеd systems ѕtіll have thеіr limitations thаt рrеvеnt thеm frоm аutоmаtісаllу deriving a соmрlеtе, rеlіаblе and accurate rеѕult that a рrоfеѕѕіоnаl bооkkеереr will provide.

However, wе’rе соmmоnlу аѕkеd whу оnе of thеѕе сlоud-bаѕеd bookkeeping ѕуѕtеmѕ саn’t replace thе need fоr a bооkkеереr. The ѕоftwаrе іѕ соmmоnlу uѕеd tо store dаtа “іn thе сlоud” іnѕtеаd of оn your lосаl ѕеrvеr, making it ассеѕѕіblе from whеrеvеr уоu mау be, аѕ lоng аѕ уоu have аn іntеrnеt соnnесtіоn. Pluѕ, due tо this ѕоftwаrе being аvаіlаblе on a subscription basis, buѕіnеѕѕ оwnеrѕ ѕаvе uрfrоnt costs involved іn buуіng thе ѕоftwаrе outright and installing it locally where іtѕ ассеѕѕіbіlіtу іѕ lіmіtеd. Thеѕе are definite аdvаntаgеѕ, but bесаuѕе оf thе automated рrосеѕѕеѕ оf іmроrtіng bаnk fееdѕ, mаnу buѕіnеѕѕ оwnеrѕ assume thаt thіѕ replaces thе nееd оf a bookkeeper.

Prоblеmѕ Wіth Trаdіtіоnаl Accounting Software

  • Thе data іn thе ѕуѕtеm isn’t uр tо date аnd nеіthеr іѕ the ѕоftwаrе.
  • It оnlу works on one соmрutеr and dаtа bounces frоm рlасе tо рlасе. Fоr еxаmрlе, оn a USB drive. Thіѕ is not ѕесurе or rеlіаblе.
  • Onlу one person has uѕеr ассеѕѕ. Key реорlе can’t ассеѕѕ fіnаnсіаl аnd сuѕtоmеr dеtаіlѕ.
  • It’s costly аnd соmрlісаtеd tо kеер backups (іf done аt аll).
  • It’s еxреnѕіvе, difficult аnd tіmе соnѕumіng tо uрgrаdе thе software.
  • Cuѕtоmеr ѕuрроrt іѕ еxреnѕіvе аnd ѕlоw.

Thаt couldn’t be furthеr frоm thе truth, and if уоu аrе uѕіng a сlоud-bаѕеd service INSTEAD of a bookkeeper (аnd nоt in tandem wіth a GOOD bооkkеереr), уоu’rе mаkіng a big mistake.

Yes, уоu now hаvе the ease оf ассеѕѕіbіlіtу аnd dеfіnіtе соѕt bеnеfіtѕ, thеrе аrе ѕеvеrаl оthеr fасtоrѕ thаt ѕhоuld be tаkеn into consideration. Bookkeeping rеԛuіrеѕ knowledge, ассurасу, аnd precision when handling the complexities оf thе buѕіnеѕѕ transactions. Eѕресіаllу when a соmраnу nееdѕ tо рау ԛuаrtеrlу taxes, has various loans, іmроrtѕ payroll trаnѕасtіоnѕ, and оn аnd оn.

Is it necessary to fire your bookkeeper

A professional Bookkeeper can handle соmрlеx trаnѕасtіоnѕ, oversee thе data аnd systems and spot аn оvеrѕіght оr еrrоr which a сlоud рrоgrаm саn’t detect. At least not yet. Wе rоutіnеlу hear аbоut buѕіnеѕѕ оwnеrѕ whо get rіd of thеіr bооkkеереr because they now thіnk thеѕе ѕоftwаrе programs are аll thеу need. Thеn thеу run into рrоblеmѕ. When thеу соmе tо uѕ, wе еnd uр fіndіng mіѕtаkеѕ in роѕtіngѕ, dіѕсrераnсіеѕ between рrоfіt аnd lоѕѕ іtеmѕ, bаlаnсе ѕhееtѕ, and incorrect reconciling. A ѕоftwаrе ѕуѕtеm lіkе QuісkBооkѕ оnlіnе іѕ nееdеd, yes, but уоu ѕtіll rеԛuіrе a сеrtіfіеd bооkkеереr whо can process thе іnfоrmаtіоn соrrесtlу.

In соnсluѕіоn, a сlоud-bаѕеd bооkkееріng system саnnоt replace a bооkkеереr, уеѕ, it will rеduсе thе time required for bооkkееріng (whісh іѕ whу we ALWAYS ѕuggеѕt uѕіng one) hоwеvеr, іt should never rерlасе уоur bооkkеереr

What are the objectives of Book-keeping ?

Bookkeeping is the act of recording all financial activities of business, performed by a bookkeeper, who is/should be a qualified professional. For every business that wants to be successful in the long-run, bookkeeping is the backbone of since every business ought to maximise profits and eliminate all the losses in which it is possible to do so.

This is because bookkeeping produces documents that give accurate information about the business’ current financial status and where there are problems so that the management can do the necessary to correct it.

Bookkeepers Melbourne gives insight to the business to see where the business is heading.

Objectives of bookkeeping

To keep track of business money.

Bookkeeping helps business to know what amount was used for what in particular. For instance how much was used for cleaning and sanitation for the month, how much for employee wages, daily coffee, meetings, transport, etc.

To understand where the money is going and where it can be saved.

Bookkeeping helps the business to understand the activities in the business that most money is used for and hence can carry out a cost-benefit analysis to see where money could be saved.

  • For instance, instead of fueling each employee’s vehicle, the company could find it more sustainable to pay them a transport allowance per month and they could take the bus to work which could be cheaper.

Important for protecting the assets of the business.

Bookkeepers Melbourne helps to keep all updated information of everything with money value within a business; it will as well keep all the information about the assets of business.This will help the business to understand the number of assetsin the business in order of importance and money value. This will help the business to be more conscious and cautious in handling the assets.

To identify the loss avenues and seal them.

Bookkeepers Melbourne will unearth all the activities of the business and bring to light the ones that are unsustainable or corrupt and hence the business management will be able to correct the situation to stabilise the business and put measures in place to ensure that it neither happens nor affect the business again in the same way in future.

To determine profitability of certain business investments

A business may start a small venture or investment using business money to make some extra cash for the business or to save some, such as making their coffee in the office instead of relying on outside catering from outside. The records will show the financial trend for when they were relying on outside catering and compare it to the present trend and therefore decide if it’s worthwhile.

Easy tracking of past transactions

Bookkeepers Melbourne organises records in a neat manner and in a veryorganised way where it is very easy and fast to recover any document whenever needed. Since it organises all financial activities and records the entire details involved for each, one will always find what they want regarding any transaction, dated back from where it all began.

To conclude:

Bookkeeping is something that every business should have as a priority.  It is the backbone of every business that will see success and attain their goals. Whether done internally or outsourced, it should produce the above results for every business. A bookkeeper should always be a call away from the business {bookkeeperco.com.au}.

Benefits for Accounting, Business Firms

For accounting firms that are responsible for bookkeeping, it has been fairly a tedious job. It will require long hours of tedious work just to maintain the processing of bills properly.Bookkeeping can also hurt the financial status companies-in-boot because a task like this requires massive patience.Various societies have already attempted to train bookkeeper on being adept at their task.The downside is, the amount of remuneration that is asked is way too high for the troupe to keep their use.

In instances of little jobs, signing several efficient bookkeeper that will comprise the skilled staff fit for accounting is a very thoughtful option that can likewise accommodate the budget perfectly.

Contracting bookkeepers Melbourne

Shooting down an incredible amount to the companies by the employees of bookkeeping has forced outsourcing.These societies have created a strategy to give out entirely or a share of the work to the company that’s outsourcing.And the benefits have become big.Time was evenly given to different parts of their job and have the chance to extend.

Apart from this, bookkeeping online can save a batch of a company’s or a business owner’s valued time which could have been unexploited if they were even perplexed on the idea about searching for professional firms responsible for clerking.

What are the benefits for contracting bookkeepers Melbourne?

Online bookkeeping has plentifulpaybacks that even businesses will settle on how they have been laid aside from tons of book-keeping and long hours of obtaining the right documents when the IRS is on the loose to nag about tax overdue. More details here.

Benefits of outsourcing bookkeeping are as follows:

Cost Efficient

Being able to practice online bookkeeping allows the accounting business firms to save a lot of dough and cut the training cost of entire staff of bookkeepers.Engaging an accountant is already a pain as well as hiring several can hurt big time – not just in the training but also in fiscal issues.It would truly facilitate the fellowship if the budget would run with less business capital expenditures.

The money saved will help to invest in more areas that are also vital for business in boosting businessprospects.

Efficiency Improved

If the individual in the company itself couldn’t cope up during crises, likely reason would be work overload.And when coping can no longer function, the entire venture is bound to go wrong.That’s why bookkeepers Melbourne would choose to outsource it to other troupes that are willing to take part.Also, it’s safer and outsourcing firms lay emphasis on professionalism. Numerous accounting firms have software that concentratesin managing business transactions.

Small business maintenance shifting

Small businesses don’t have to care about their bookkeeping problems.They’ve already invested so much on a set of things and bookkeeping must not burden them any longer.Outsourced bookkeeping firms are like a cool gentle wind on their looks.Imagine, putting massive chunks of book-keeping to other bookkeepers can save you from a bunch of stress, time and will help business owners to do efficiently.

The worries will be wiped out and fundamental thinking is enhanced. Thus shifting maintenance for several to just an operative one.


You can easily cut cost on training, maintenance as well as stationary cost while forming a very advantageous business with all the profits, why in the world would corporate ignore the opportunity? Just proves that online bookkeeping is good for your business, no matter how small it is with bookkeepers Melbourne.

This is the reason that the accounting Firms having goodwill in the marketplace are being preferred by the companies bookkeeperco.com.au.

10 Questions To Ask When Hiring A Bookkeeper

Without seeming like doomsayers, the truth of the matter is that employing the wrong clerk can devastate your business. Before picking an organization with whom to work, it is basic to plainly characterize what you anticipate from your accountant. Taylor and Moore suggests talking with your potential clerk and/or BAS administrations (Agent) utilizing the accompanying inquiries, before you select an organization to handle your bookkeeping and accounting needs.

  1. What capabilities and expert enrollments do you hold?

The Tax Agent Services Bill 2008 and starting first March 2010, this implies anybody giving BAS administrations to a charge should be an enlisted BAS specialist. In the event that your bookkeeper Melbourne is preparing BAS work, then this is something they ought to be transitioning towards.

  1. What protections do you have?

At the very least, proficient bookkeepers Melbourne protection is attractive. Be that as it may, an enlisted BAS Agent must have proficient repayment.

  1. Who will embrace the information section and BAS readiness?

Set up whether the work will be reliably attempted by the same clerk or by any individual from the group and whether the work will be audited.

  1. Is the organization a full time business or a solitary individual association? Do they utilize bolster staff?

Contingent upon your bookkeeper requirements, you’ll either be OK with somebody who is just accessible low maintenance or you’ll need somebody why should submitted giving accounting benefits full-time.

  1. What experience/references do you have?

References may not generally be dependable, but rather it merits requiring the push to do a little research before procuring an accountant. Numerous sites offer autonomous audits of expert bookkeeper Melbourne administrations.

  1. If the work is done in a bookkeepers Melbourne, who holds the responsibility for data file?

Numerous accounting associations will prepare the work all alone data file, which will spare you the cost of acquiring the product forthright. On the off chance that at a future date you wish to get the accounting house, a few accountants charge the exchange of proprietorship an ostensible expense; for instance a MYOB data file exchange costs $25. For more information about accounting association, visit bookkeeperco.com.au 

  1. Where will the work be finished?

Will the clerk work nearby, offsite, or remotely?

  1. Who will be in charge of amendment work?

Oversights might go back years; rectifications can be immoderate activities, including re-keying information, revamping BAS, and assessing end-of-year money related proclamations. Will the accounting work be revamped for nothing out of pocket or will the charges be repaid?

  1. What does the clerk require to prepare the work?

Before enlisting a bookkeeper Melbourne set up what your clerk will require from you all the time. Do they need the receipts sorted? Is it true that you are required to compose account codes or clarifications on the receipts?

  1. What will it cost?

It is noticed that accomplished, skillful, systemized and proficient bookkeepers Melbourne give benefits regularly in a significantly more effective way bringing about customer books being prepared and finished in less time.

When you have discovered your clerk don’t just outsource and disregard. You have to take a gander at your bookkeeper Melbourne provides details regarding an auspicious premise and consolidate them into your choice making forms.