Bookkeepers and Mobile Bookkeeping Services

Happy New Financial Year – In Australia, the financial year starts on 1 July and ends 30 June

Have you made any New Year’s Resolutions?
We always encourage our clients to get a better handle on their paperwork – it save us time, and thus save our clients money in bookkeeping fees.

A very simple habit to get into is simply this: everytime you pay an account, be it an invoice, or even making a cash purchase, you can do a little bit towards your bookkeeping. Write the date you paid the invoice, the amount you have paid, and the source of funds used for the payment.

Straightaway you are asking:”Why do I have to write the amount that I have paid on the invoice, when there’s already an amount printed on the invoice? Well, we do not know whether you are paying the whole amount as stated on the invoice, or whether you are making a part payment.

Why write the date of payment, when the invoice clearly states the invoice due date – Again, how does your bookkeeper know when you actually paid the invoice, without spending a few minutes chasing up the payment

Why write the payment method? You may have paid by cash, or by cheque, or by credit card, or Internet Bank Transfer

So which bank account, credit card account or other source of funds did you pay the invoice from?

A simple extra minute spent adding this information could dramatically reduce your bookkeeping fees each year

There’ many other New Year’s Resolutions that you could be making for a successful twelve months in your business

One of our bookkeeping clients received a communication from the ATO advising that they owe $0.05

Where is the sense (cents) in making a five cent payment?

Let’s just think about this simple transaction in terms of human and energy resources:

There’s the cost the ATO $0.55 for the postage. That’s before you take into account the cost of printing the letter, the cost of the paper and the envelope, and the cost of paying someone to handle the letter.

Our bookkeeping client was going to make a phone call, but that would cost 500% more than the value of the enquiry

Whilst they do not have a problem paying the 5 cents, it’s quite obvious why ordinary hard-working Australians are having to pay so much tax overall.

Apparently there is a great deal of wastage of resources at the ATO - typical of the Public Service that doesn’t have to worry about keeping costs down

So, our bookkeeping client was going to do internet banking and make a BPAY transfer, to find out that the ATO does not accept such small amount of payment for a BPAY transfer

So how does our bookkeeping client pay the 5 cents that the ATO is asking for?

Are they expected to go to the Post Office and make a payment over the counter?

Again, what is the cost of that simple exercise?
The Government is concerned about carbon pollution, yet the ATO wants our bookkeeping client to jump in their gas guzzling motor vehicle to drive to the shopping centre, find a car park, then walk to the Post Office, stand in a queue, take up the time of a Post Office Staff member, to process a 5 cent payment

Can anyone from the Australian Taxation Office or the Federal Treasury please tell us, where is the sense (no pun in tended) in making this five cent payment?

With doom and gloom constantly reported in the media, sometimes you need a good reason for a laugh. Here are nineteen ways to maintain a healthy level of insanity [Read more →]

Bookkeeping for the end of the financial year should be well organised before 30 June 2009

Each year many small business owners around Robina, Varsity Lakes and Burleigh don’t start reviewing theirr finances until after 30 June, potentially missing opportunities to reduce their tax while building wealth.

The best time to prepare for the end-of-year is now, before the end of another financial year [Read more →]

Many small business owners in and around Broadbeach, Southport, Surfers Paradise and Bundall believe that by cutting the price of their goods and services, their business will increase.

It an achieve more sales, but it can also affect your bottom line

If your existing customers are already buying from you, then how will they feel if you are selling the same product / service to new customers at a lesser rate? You’ll soon find you have to reduce the rate for your existing customers

Offer Added Value

Do you really believe that your prices are an issue? People are not necessarily buying because your price is too high. It’s just that they may want to conserve their cash o slow down in spending.

So unless you are sure that your price is too high, then cutting prices will not help your turnover. From a bookkeeping perspective, let’s say you sell your services for $100 per hour. You have overheads etc that work out o be $70/hr , so your profit is around $30 .

To make a sale you feel compelled to drop your rate to $80, meaning your profit is now $10 and not $30, resulting in a 66% cut in your profits for a price reduction of 20%

And now your time is worth $80 not $100

When times get tough, and competition increases, have a look at ways to increase your level of service, or offer extra value for money. Maybe you can offer extended warranty, or offer services that really do not cost you anything extra.

We have found many small business owners phoning around bookkeepers looking for the cheapest option. We’ve talked before about the difference between price and cost. A cheap bookkeeper may be a short term solution that can create long term problems

Contact our mobile bookkeepers in and around in and around Broadbeach, Southport, Surfers Paradise and Bundall for a free appraisal of your bookkeeping needs

It’s nearly the end of the financial year, and time to get your bookkeeping in order.

Many Gold Coast business owners are so focused on the day to day running of the business, that they overlook the fact that the end of the financial year is rapidly approaching. [Read more →]

Would a competant accountant really charge $25 per hour for their bookkeeping services?

The photo was taken in a local bottle shop - the staff weren’t paying attention to what they were doing. The wine was intended to be sold at twice the price (3 for $19.99)

Don’t be fooled by believing a cheap bookkeeping service will save you money in your business

A qualified accountant contacted us looking for bookkeeping work, and stated that their hourly rate was $25 per hour. A couple of thoughts spring to [Read more →]

Business Activity Statements were due on 28 April 2009, so if you are late with your BAS then what options are available to you? [Read more →]

Everyone wants to save on bookkeeping fees. As the economy tightens businesses look for ways of cutting costs, and so it would seem to make sense to “shop around” for book keeping services. Contact us now a quote

A few weeks ago we were contacted by a business owner in Robina “just phoning around for prices” for book keeping services.

They had previously been paying a bookkeeper a very cheap rate, and were concerned that their accounts were not correct.

How can saving of book-keeping fees cost you more?

When you go to a two dollar shop and buy some cheap product, do you really expect it to stand the test of time? Yet there are business owners who are more interested in saving a few dollars each hour on their bookkeeping fees at the expense of the future of their business.

Where is the sense in handing over your financials to [Read more →]

The third Quarter of the financial year has gone and Q3 BAS lodgments are due on 28th April 2009.

Many small business owners leave the bookkeeping to the last minute and then in a panic contact us to help with the Busines Activity Statements.

Easter has been and gone, and it seems many people were drowning their economic woes in chocolate

Rather than struggle with your BAS, contact us to help with the Business Activity Statements.