Sole traders and small businesses
Small businesses usually use the barometer of “is there money in the bank” as the indicator that they are doing fine. There are less compliance issues so things are simpler. Accounting is usually something done at the end of the year by giving a box of receipts and bank statements to an accountant.
As a bookkeeper I an assist in the following way:
- I can help you to do record keeping and data entry using an accounting program. If it is done regularly or even semi regularly there are many benefits. Some operators prefer to use a spread-sheet to keep their accounts, I can set up a customised spread-sheet for your purposes, even to track GST as well
- The reports that are generated from your trading activities will give you clear indications of the strengths and weaknesses of your business so you can make adjustments to how you trade. As well, as your business grows, record keeping and compliance with various statutory requirements will become more of concern. Creating an accounting infrastructure earlier is useful because it can grow as the business grows.
- I can either do your record keeping for you, or I can show you how to do it yourself. Some people want to know very little about accounting and just focus 100% on their business. Some people have some accounting affinity and want more information about their business.
- Whichever way you choose to go I can adapt and work with you in the way you need.
- Some small business may have been moving along well for some time, the owner may simply want to step out of doing the accounts himself/herself, or perhaps their existing bookkeeper is no longer able to do the work. A bookkeeping cycle for a small business could be a visit once every 1, 2 or 3 months.
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