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Bookkeeping for your business

An Essential Skill for any Business Owner / Operator is Bookkeeping

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I have spent many weekends over the past 12 years teaching tradesman the importance of having an effective accountancy system.  Most laugh when I say it’s the “sexiest” system in a business.

Once they understand that this is the primary information system in a business and that the information they receive is the basis of the decisions they make in running their business their attitude changes.

Bookkeeping is the foundation of that system and if it is kept up to date and completed accurately the owner, you have a much better chance of making good decisions for and in your business.

Notice I said “good decisions” because not all decisions will be popular with you or others interacting with the business.  The decision to lay-off staff is never a nice one but is one the accurate and timely results might indicate you have to take.

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A good local bookkeeper may be just what you need but even if you engage someone to do your bookkeeping you must have an understanding of bookkeeping so you can be comfortable with their work. You do not have to do it but you do have to understand it.
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Bookkeeping is the foundation of the Accounting System

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Bookkeeping will lay the foundations for and be the basis for almost all of your business decisions.
You must therefore keep your records up to date and in an orderly fashion.
This is why someone who is easily accessible will be a a good choice to engage as your local bookkeeper.
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Good Decisions Come From Good Bookkeeping Information

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What makes good bookkeeping information?
Accuracy is a great start and knowing how to treat transactions correctly from an accounting perspective is absolutely necessary.

Bookkeeping before horse bolts

Too late …

Timeliness is another ingredient because you want the feedback early enough to counter negative results or take advantage of good opportunities.
These can both be missed if your results are only recorded two or three months or more after the event or as the saying goes “after the horse has bolted”.

 

Systems for good Record Keeping and keeping Books of Account is essential to good business management.
A good local bookkeeper might be the answer for you.
Logan City Local Tax Accountants offer local bookkeeping services and here at ProfiTrain we offer a course in “Bookkeeping for Small Business” training that will probably suit you if you are in the small business environment. Contact us for details.

 

Ensure your bookkeeping serves you and your business.

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