How Hiring Small Business Bookkeeping Services Can Help You

Why Choose Our Small Business Bookkeeping Services?

Every business, regardless of its size, needs to keep its finances in check. Bigger companies may have an accounting department that works with an in-house accountant to take care of financial duties, but for small businesses that have fewer resources, it’s a lot different. Hiring an in-house accountant may also seem like a good idea, but it may not be economically feasible.

We at Edge Small Business Consulting are a team of certified bookkeepers committed to help your business achieve its goals. Managing a business is already stressful, so why stress yourself even more by doing your bookkeeping? With the small business bookkeeping services we offer, you get to leave the “boring” stuff to us and focus on the growth of your business instead.

Common Bookkeeping Mistakes That Can Make Your Business Fail

Having a successful business is more than just opening a company and selling your product. Good market research, promoting your product, and handling your finances are equally important in running a successful business.

Needless to say, small business owners should list bookkeeping as their priority. Bookkeeping may sound like an easy task, but it’s just as demanding and requires your 100% attention. Even the mistakes you thought were minor can lead to huge consequences. If you’re a new entrepreneur, here are common mistakes our small business bookkeeping services can help you avoid:

Forgetting Sales Tax

This is perhaps one of the most common mistakes businesses make. It may be common, but it can still cost your business a large amount of money. It can result in penalties and fines from the ATO that your business may not be able to accommodate.

Because we know how tax laws work, we can help you avoid getting these penalties. By having an idea of certain laws, you won’t forget or neglect to file important aspects of your business that are not negotiable.

Not Separating Personal from Business Accounts

If you own a small business, you’re probably using your bank account for business-related transactions since it’s still easy to monitor cash flow. But what if your business expands and audit time comes? This is where our small business bookkeeping services can help.

By separating your personal and business accounts, we can go through your transactions much quicker to avoid issues and delays. This also helps so we can accurately work on your books to avoid potential problems with the ATO.

Additionally we offer Bookkeeping packages that can help you reach your goals as well. Check these out here

Hiring our bookkeeping Brisbane team lets you gauge your performance and plan strategically for the future. Take a look at our report before finalizing next year’s budget. You may see new insights that can double (or even triple!) your revenue.

No Back-Up

Different bookkeeping technologies can be confusing to understand, especially if you’re doing your business activities at the same time. If you’re not tech-savvy or completely understand how the software works, your business is more likely to get into trouble.

Our team at Edge Small Business Consulting always makes sure to have a back-up. This helps so when you accidentally delete important data, your business would still be saved.

When Do You Need Our Small Business Bookkeeping Services?

Hiring bookkeeping services is quite a trend among small businesses. This is good because aside from letting owners focus on the core activities of their business, they can also have a clear image of where they financially are whenever they want.

But some small businesses are still unsure when to consult a bookkeeping firm. If you want to try bookkeeping services rather than hiring a part-time or fulltime accountant but don’t know when to start, you can decide based on these three scenarios:

Start of the Financial Year

Let’s say you’re one of those owners who took the DIY route. If you feel like bookkeeping isn’t your forte by the end of the financial year, getting our small business bookkeeping services is the best decision you can make for your business.

As Soon as Possible

All businesses have their own set of requirements. This is why you should hire a bookkeeping team as early as you can, and not wait for the “ideal time.” A reputable bookkeeping company like Edge Small Business Consulting will make sure all your accounts are up-to-date to help you make the right business moves for the future.

For Start-Ups

If you’re a new small business owner, you will always find ways on how to limit your expenses. So instead of hiring a full-time agency, we can help you bring in cost-effective measures from the start and therefore, cut your expenses.