Owning your own business means taking charge of all facets of your business. Yes, this includes the finances, even if it’s not your strong point.
Enter the bookkeeper.
A bookkeeper helps manage your financial transactions and understands your business’s financial position. This allows them to help guide you through the next phase of growing your business. Hiring a full-time bookkeeper to work within your business may not be possible right now – or even necessary.
Outsourcing your bookkeeping needs may be the best solution. Here are some of the benefits of using an external bookkeeper:
More time to focus on your business
Outsourcing your finances to an experienced bookkeeper to handle the day-to-day numbers allows you more time to focus on the parts of your business that you love. Whether that be marketing or product development, having a bookkeeper as part of your extended team means your financial paperwork won’t bog you down.
Keeping your books up to date
A transparent understanding of your current cash flow is important in understanding the steps needed to grow your business. A dedicated bookkeeper will ensure that your cash flow is up to date and regularly provide you with the ins and outs of your accounts payable and receivable. This then allows you to make the right financial decisions for your business.
Any inaccurate reporting while entering the numbers of your income or expenses can delay lodging your quarterly financial information and result in a fine from the ATO. The experienced bookkeeper team at Momentum will accurately enter (and review) all your financial transactions into your accounting software. Leaving your books up to date and correct when lodging them to the ATO or handing them to your accountant.