Most tradies believe that paperwork is what’s holding them back in business. It takes a lot of time to complete a Business Activity Statement (BAS) every quarter. Aside from BAS, other painful jobs include issuance and chasing of invoices, analysing the numbers and reconciling bank statements. As your construction business grows, you should consider outsourcing these to a bookkeeper.
A bookkeeper charges an hourly rate, which is lower than an average tradie so it makes sense to outsource your BAS and books to a bookkeeper. Why should a tradie like you use a bookkeeper? If you do it yourself, it costs you time whereas if you use a bookkeeper, it will only cost you a small amount per month. If you DIY, there’s a greater risk of mistake while an experienced bookkeeper will offer greater accuracy. Using a bookkeeper will afford you more time on the job.
Bookkeeping for tradies
Different bookkeepers offer slightly different levels of service. Some bookkeeping packages include completing bank reconciliations and chasing invoices while others don’t. Plenty of bookkeepers specialise in looking after tradies as well.
Tradies used to prefer bookkeepers from their local area so they can easily drop their boxes of invoices and receipts every month. However, things have already changed and many tradies and business owners now prefer the internet over face-to-face meetings. It’s the same with insurance. Tradies used to visit local insurance brokers but they now just visit websites. You just need to scan your paperwork and email it through. It saves lots of time. Cloud-based services offer automated options as well. These software can link you, your accountant and bookkeeper.
You call a plumber when you want a broken sink to be fixed. You want an expert as you don’t want the job half done. This is the reason why you need a bookkeeper when it comes to bookkeeping. A bookkeeper can help you keep your records compliant and organised and help you with your invoicing. A bookkeeper will help you with your budget so you can grow your business and focus on what you do best. At year end, all your records are ready to go to your accountant. How much time does it take you to manage your books and how much could you earn in that period? Using a bookkeeper is a no brainer.
As you look for different ways to grow and improve your business, seeking professional advice could prove to be an important and helpful decision.
You can click here to speak to a business, accounting and bookkeeping firm. We also offer hospitality business consultation and mortgage services. We will give you a call to know more about your needs. We will explain to you how we can improve your business.
We would love to help you formulate investment strategies and streamline your processes to take your business to the next level. Our goal is to help you grow your business, find ways to invest more and increase your productivity.
Phone: 1300 328 855
Office Address: 902 Howitt Street, Wendouree, Victoria 3355, Australia
Postal Address: PO Box 2234, Bakery Hill, Victoria 3354
Phone: 03 97444522
Office Address: 45 Hamilton Street, Gisborne, Victoria 3437, Australia
Postal Address: PO Box 270 Gisborne Victoria 3437