How Would Hiring A Small Business Bookkeeper Benefit You?

Why Make Edge Small Business Consulting Your Next Small Business Bookkeeper?

According to the Australian Bureau of Statistics, over 60% of small businesses close within their first three years of operation. The number one culprit? Financial mismanagement. This is tough to hear, but if you’re an entrepreneur, you should know how important bookkeepers are by now. So if you think your small business doesn’t need bookkeeping services, think again. We at Edge Small Business Consulting are certified bookkeepers and accountants who specialize in all aspects of small businesses. With our help, you can maintain the growth of your business and take calculated steps for future expansions. Don’t wait for your business to fail and work with a small business bookkeeper today!

Why Get Bookkeeping Services for Your Small Business?

Fun fact: most business owners hate accounting. Despite this, they still choose to spend hours and hours working on their books—only to realize they still didn’t learn anything new about their business.

Does this sound familiar? Then consider hiring a bookkeeper if:

You Don’t Have Time

No matter how hard you try, there’s only so much that you can accomplish in a day. If you’re working on marketing, making sales, preparing shipping, and bookkeeping all at once, something will certainly suffer.

Why spend long hours doing a bank reconciliation when it would only take us less than an hour? While hiring a small business bookkeeper would mean extra expenses, how many sales could you have made in the time you saved?

You’re Not a Bookkeeping Expert

Imagine performing surgery on yourself and you’re not a surgeon. Would you trust yourself? If debits and credits confuse you the way the human body does, then you’re doing more harm than good.

The ATO may even dig deeper into your business and ask for some auditing. By working with us, you can avoid spending money on late fees, interest, penalties, or worse, jail time.

You Dread it When it’s Time to Manage Your Books

Ask any business owner and they’ll say bookkeeping is their least favorite thing. They probably would choose to advertise and sell their products instead of doing the tasks of a small business bookkeeper.

We know that software bugs, shipping problems, and angry customers are enough to drive you crazy—so why add bookkeeping to the equation? The time you spend tracking your finances can be used to solve those other issues, so we don’t understand why you want to take on bookkeeping as well.

Hiring our team means you can get a better picture of where your business is currently at. With this information, you can make adjustments to your business, such as where you need to invest more time, money, etc. Having this data readily available can help you make informed decisions in the future.

How Can a Small Business Bookkeeper Help You?

We Track Profitability

Profitability measures allow you to easily track transactions to know how much is earned on inventory. Tracking profitability lets you see your earnings over time and we can suggest ways on how you can improve it.

Some profitability measures we use to gauge your business performance include:

• Profit margin
• Gross margin ratio
• Return on equity
• Return on assets ratio
• Return on capital employed

We Maintain Cash Flow and Improve Financial Management

If you’re a responsible small business owner, you should be aware of your business’ sources of income.

Working with us means you can determine how much your business makes, and manage your spending to make sure there’s enough to shoulder your everyday expenses. With a small business bookkeeper, you can get real-time financial records so you can easily analyze the financial state of your business and find out which areas need to be improved.

We Help You Prepare for Tax Season

If you own a startup, you can probably get away by manually tracking your transactions as they happen. But what happens once your business starts to grow? You know the DIY method isn’t enough to handle this.

As certified bookkeepers, we always track important financial information regularly and not just at the last minute. We can help determine the types of taxes too, and we can also provide you an estimate of your account payables.