Bookkeeping Made Easy
In a nutshell, typical bookkeeping tasks are all about transaction reconciling – bank reconciling, general ledger reconciling, paying creditors and receipt of receivables.
It may not sound interesting, but it is the backbone of your finances.
You need to be accurately recording everything coming in and everything going out, to ensure the numbers you are using to make decisions, are accurate.
Balanced Beans works with you to identify your bookkeeping needs and create custom solutions to ensure you are meeting all your record-keeping obligations as a start-up or small-to-medium business owner.
As seasoned bookkeepers we have the experience and know-how to help calm your bookkeeping headaches, take the stress out of number-crunching, and improve your financial decision-making systems.
Our services can be performed weekly, monthly, quarterly, annually and, if you’ve been a little distracted by other things more important to you, to catch up on overdue obligations.
If you really dread anything to do with the money side of business – except making it, of course! – our bookkeeping services can also be combined with payroll and BAS agency services making us a one stop shop for your books.
But first, the basics…
What is bookkeeping?
Bookkeeping is the practice of recording and tracking the financial transactions of a business. We use this information to summarise your financial activity into reports that show how the business is doing. As part of this process we can also perform wider tasks such as invoicing, paying bills, preparing tax returns, monitoring key performance indicators, and providing strategic advice.
Keeping accurate and complete records will help you manage your business and cash flow.
Good record keeping is good business.
Why your business needs a bookkeeping service
You are legally required to keep records of all transactions relating to your tax and superannuation affairs as you start, run, sell, change, or close your business, specifically:
We want to make sure you have covered all your bases! To meet your record-keeping requirements and avoid common errors, ensure you understand what records are needed for your business and make accurate and complete record-keeping practices a part of your daily business activities. As your business changes or grows, you may need to review what records you need to keep.
So having a bookkeeper ensures you are meeting your requirements, because there can be legal and financial consequences if your business doesn’t comply with these record-keeping requirements.
Contact Balanced Beans
Let the team at Balanced Beans take care of all your bookkeeping needs so you can get on with business.