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  • Do You Need a Bookkeeper?

    8 November at 18:05 from atlas

    Do you needů?

    A person to take care of your company's payroll?
    Someone to fill out and file remittance forms?
    Someone to reconcile your bank statements?
    A person that will be able to create financial statements monthly?
    Someone to track your expenses and keep receipts?
    A person that will regularly update your ledger and journals?
    Someone who will prepare & lodge your Business Activity Statements?

    If your answer is "yes" to most of these questions, then you really need a bookkeeper.

    A bookkeeper can do all of these jobs and many others. They can help you get a grip on what is happening in your business simply by managing your books.  This reflects monies coming in and going out and whether you are making a profit or having a loss.

    All companies, big or small, need a bookkeeper. Bookkeeping is a very tedious and boring task to many people and it takes strong knowledge and expertise for a person to be able to do this job.

    The duties of a bookkeeper are very specialized and so essential that a company can quickly be on shaky ground if they are unfortunate enough to hire an inefficient bookkeeper. This is because a single error in the entry of data to the ledger or in filing forms can cause big problems to a company. Therefore, it's important that you carefully screen any potential bookkeeper.

    There are two options in finding a bookkeeper; either hire an in-house employee or outsource to a contract bookkeeper. The first option is the conventional one where companies form a bookkeeping department specializing in individual bookkeeper duties. For example, one section could be in charge of the accounts payable while another section could handle payroll and so on.  That way each section is able to function efficiently because their duties are localized.

    The next option, which is outsourcing, is what many companies are using today. This is because of its ability to cut costs. With this option, bookkeeping jobs are done elsewhere by bookkeeping companies offering this service.

    You no longer require an office for your bookkeeper, thus your labor cost are reduced.   Also you are not obligated to provide benefits regular employees usually get or any additional training.  No more additional computers need to be purchased nor in some cases would you need to buy accounting software. In addition, you can be sure that you get the paperwork you need right on time without constant monitoring.

    Now, if you need a bookkeeper, you have two options. It's up to you as to which suits your business better. Just remember to have someone take care of your books so that you can better monitor the other aspects of your business. 


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