Bookkeeping & Payroll Services for Small Businesses

Bookkeeping involves recording each transaction for a business while accounting is more about looking at all those transactions to find trends that can be used to help a company. More specifically, bookkeeping is done with paper records, while accounting requires software programs. Bookkeepers record each transaction in a company’s financial . Accounting is more subjective, giving you insights into your business’s financial health based on bookkeeping information. Accounting and bookkeeping are two related fields with some differences in functionalities. Understanding these differences is important because the roles of accountants and bookkeepers differ based on their respective skill sets, expertise, knowledge base or background experiences (e.g., accounting vs finance). In this guide, we will explain the functional differences between accounting and bookkeeping . We will also discuss the distinct roles of a bookkeeper versus an accountant. The function of bookkeeping The role...

It's no secret that the back office is often a business owner's least favourite place to be. The tasks involved in bookkeeping and accounting have been largely unchanged for decades, and it can take hours of time each day just to keep up with the most basic records- let alone find any insights into your financial performance. But now there are many solutions available that will automate these outdated tasks so you can focus on what really matters: running your business! In this post we'll explore how modern bookkeeping software has changed the way businesses operate by automating some of their processes, freeing them up from tedious data entry work and enabling access to more accurate insights than ever before. The Impact of Modern bookkeeping- Automating the back office Businesses can now automate many parts of their accounting workflow with new software technology, freeing up time to focus on more important tasks. Without having to do data entry and other manual work ...

  Bookkeeping is the process of recording financial transactions, understanding the details, and preparing summaries to be able to generate accurate reports. A bookkeeper can work for a company or as an independent contractor. If you are considering becoming or hiring someone to handle your bookkeeping needs, then this blog post will answer all your questions about what it takes to become a qualified bookkeeper! What is Bookkeeping? It's simply the activity or occupation of keeping records of the financial affairs of a business. Bookkeeping is the process of recording financial transactions, understanding the details, and preparing summaries to be able to generate accurate reports. Bookkeepers are individuals who manage all financial data for companies. Without bookkeepers, companies would not be aware of their current financial position, as well as the transactions that occur within the company. A bookkeeper can work for a company or as an independent contractor. Bookkeepers...

A bookkeeper is a person who records and tracks the financial transactions of a business. What are their duties? What does a bookkeeper do in an average day? What tools do they use? These questions will be answered in this article, so read on to find out more! What does a Bookkeeper do? A Bookkeeper provides important services to businesses by recording and processing financial transactions and producing statements. Some bookkeepers are tasked with maintaining the accounts for an entire organisation, referred to as the general ledger. In contrast, others function as accounting clerks, managing particular duties as part of a team. They verify receipts, prepare bank deposits, send payments and monitor overdue accounts. In many cases, a Bookkeeper will also be responsible for the preparation and lodgement of Business Activity Statements (BAS). Data entry The tasks of your bookkeeper will be to enter all financial transactions into the system regularly and accurately, allocate them...

When most people think about starting a new business, one of the first things that come to mind is how they're going to manage their finances. The reality is that many start-ups don't have any experience in this area and will need to find someone who can help them out. In this blog post, we'll discuss why should you outsource your bookkeeping. How much can you expect it to cost? And 3 benefits of outsourcing your bookkeeping needs for start-up founders. Why should start-ups consider outsourcing bookkeeping? There are probably more valuable things you can be doing in the start-up phase of your business than learning the difference between a debit and a credit. Generally, a founder juggling the responsibility of sales, product, cashflow, human resources, compliance and more – many of these things can drain the enthusiasm they had for their business. By out-sourcing key roles to professionals, you will have more time for growing your business and generating new ideas that ...

We all know that paying employees on time and correctly directly contribute to workplace satisfaction. And happy employees are more likely to perform better which positively impacts customer satisfaction. As an employer, you want those customer service and employee satisfaction levels to be nice and high. A simple way to do that is to enhance the process of payroll so it is streamlined and runs smoothly, leaving you with more time to spend on winning business, improving productivity and profit. Cloud accounting, with its automation and user-friendly interface, replaces labour intensive payroll procedures with smooth, simplified processes. So, let’s breakdown the process of payroll first: 1.      Gathering employee information 2.      Establishing payroll compliance 3.      Recording employee hours and entitlements correctly 4.      Making regular and fair remuneration payments 5.   ...

Have you ever wondered why your accountant charges so much even though you're paying a bookkeeper? Your accountant doesn’t even pretend to be grateful that you’ve made life so easy; in fact, they’re on a permanent war footing with your bookkeeper. Your accountant says it’s your bookkeeper’s fault that your accounting costs aren’t falling. Your bookkeeper says she doesn’t know what the accountant could be talking about. She’s diligently entered all the data, you’ve watched her do it every month. It can’t possibly be her. Except it can. And in 90 percent of cases, it is. We know that’s a hard truth to face. You’ve known your bookkeeper for so long you can’t remember when she started. She comes to the office every month and chops down that pile of unentered receipts and invoices. Things only get more than a few weeks—a month at most—behind when she’s on holiday or one of the kids is sick. But she’s like a friend. You and your staff have coffee with her, you know about her family...