Bookkeeping & Payroll Services for Small Businesses

Positive cash flow is a business owner’s best friend. Great for business and great for your confidence. Unfortunately, tight cash flow is the reality for many small businesses in Australia . Research shows 51% of start-ups close within four years with poor cash flow responsible for 41% of those closures.  How Bookkeepers can now do Cash Flow That’s a sobering statistic. And we believe an avoidable one.  With our clients at IKeep Bookkeeping , cash flow is high on the agenda when we talk accounting strategy with them. They ask us to manage cash flow the traditional way on spreadsheet and we push back. They get surprised and we get the chance to tell them why it’s better if bookkeepers don’t touch cash flow the traditional way.  With traditional forms of accounting – think desktop and multiple manual entry – a bookkeeper would create a spreadsheet with cash flow information. This takes too long to do properly and requires somebody to continually update and monitor cash in and cash out.

Just over 36 months ago Cornerstone began offering cloud-based accounting software for clients. Cloud accounting software was a real revelation as it provided both clients and our business with a number of opportunities. Moving over 50 desktop clients to cloud accounting hasn’t been easy, and took some time, but it has placed Cornerstone at the vanguard and looking optimistically at the future. Desktop Challenges Using desktop accounting programs are outdated as far as an external bookkeeping service is concerned. Files are kept on-site by the client, meaning access and the bookkeeping process is slow and cumbersome and no real-time information is available. As an example, checking credit card transactions required clients to send the transaction receipts – a process which could take days. With no particular password protection in place, there was no accountability for those making changes and thus no tracking of errors. Training our team was a continual process to ensure staff on t

  Six Secrets That You Need To Know For Growing Your Small Business In 2021 The size of your business might be small, but your dreams are not! You will surely like to expand your business, right? So how about you plan it and structure it beforehand? Go through this article to know all the secrets to boom your business. Boost Your Customer Connection You can always give a boost to your connections with the existing customer base by selling more of their favoured stuff. It would be best if you focused on selling what is best for the customer, and for this, you can rely on their feedbacks. Another trick that you should always have on your sleeve is selling enhanced stuff to your existing customers. Follow their feedbacks and see what modifications are in demand.   Calculate Your Risks It takes a lot to expand your business. The risks are higher when it’s a small business, and some hard decisions are always on the way. It will require you to move out of your comfort zone and not depend on