Why do small business owners hang on every word uttered by your accountant? Think about this for a moment. Accountants work with historic figure. Often a year or more may have passed by the time you get to talk to your accountant over a set of balance sheets or Profit & Loss accounts.
Your bookkeeper is working on your financials every week, month or even quarter. Any bookkeeper worth their salt can see what’s happening with your business, so do you ever take the time to ask them what they are seeing? In Australia, bookkeepers are not qualified to give taxation advice, so you’ll need to speak to your accountant regarding those matters.
Your bookkeeper should be able to read a balance sheet and P&L. Even if you’re not sure what it all means, do you ever ask them about your business? Just remember in most cases, that much time will have passed before you get to see your accountant, by which time it could be too late to change the course of your business. That’s why good bookeeping for small business is so important. If you need some help, contact us or email us at admin[at]yo2go.com
Next BAS due
