Q World Bookkeeping

Adelaide's Top Bookkeeping Blog



Do You Have What It Takes To Be A Bookkeeper?

Every considered Bookkeeping as a career?

If you’re interested in the financial side of running a business, this could be an excellent career option for you. However, before you commit to making the choice, make sure you know what it takes to become a great bookkeeper.

What Is A Bookkeeper?

All businesses need to keep an accurate and up to date financial record of their incoming and outgoing costs. In smaller

In smaller businesses in particular, these are generally handled by bookkeepers in Adelaide who are responsible for entering financial data into the appropriate system to then generate reports for management to review.

What Does It Take To Be A Good Bookkeeper?

There are many bookkeeping roles available in businesses of all different sizes, in a variety of industries.

If you’re interested in becoming a bookkeeper, find out whether you’ve got what it takes by comparing your skills with the ones below;

According to The Marketing Department, and Adelaide digital marketing agency, they believe the following:

  • 1. Attention to Detail

One of your main tasks will be entering data into the computer system used to record the financial information for your company. It’s absolutely essential that you have a high level of attention to detail when doing this as mistakes early on in this process can lead to inaccurate reports and misinformed decision-making.

  • 2. Interest in Finance

Although it’s not essential, a bookkeeper who has a keen interest in finance will really stand out against those who are disinterested or disengaged. You’ll also find that an interest in finance will help you to familiarize yourself with all the terms used on a day to day basis as well as helping you to do the best job possible.

Bookeepers

Bookeepers

  • 3. Good Computer Skills

The majority of today’s bookkeeping is done using computer software programs specifically designed for business’s of all sizes to accurately track their finances. A good understanding of computers and the bookkeeping programs available will stand you in good stead for a successful career.

  • 4. Reliable, Organised and Trustworthy

You’ll be handling highly sensitive information on a daily basis as well as data that is confidential. As a result, you need to be a reliable individual who a company can depend upon for organization, discretion and assertiveness.

It’s also important that they have good bookkeeping insurance cover.

Records must be kept up to date and there will be specific deadlines regarding when reports will be due and, in a wider sense, during the financial and tax year. You should always be on top of these, preparing in advance and always have required information available.

If you’d like further advice, head over to the TMD blog for more data and advice.

Why You Should Hire A Professional Bookkeeping Service

Have you been doing your own bookkeeping for years? Do you find that it takes up large amounts of your valuable time?

Perhaps you simply don’t enjoy it and are constantly putting it off. Either way, hiring a professional bookkeeping service could be the best decision for you and your business.

What Does A Professional Bookkeeping Service Do?

A Professional Bookkeeping Service will ensure that all of your financial records are kept up to date at all times and available for you as and when required.

You should be able to trust a service like this to input financial data for you, provide you with reports on a regular basis and to make information available using a bookkeeping software program backed up by the cloud.

Top Five Reasons for Hiring a Professional Bookkeeping Service:

1. Save Time

Chances are that bookkeeping isn’t your favourite part of running a company.

Unless you really enjoy it, don’t spend your time endlessly inputting data and creating reports. If your strengths lie elsewhere, dedicate your time efficiently to the areas of your business where you can really make a difference rather than fighting with your bookkeeping.

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2. Regular Updates

Rather than simply rushing to do your bookkeeping at the end of the financial year, or finding a never ending backlog, you’ll enjoy the benefits of a professional bookkeeping service. This service should provide you with a snapshot of your business’s finances whenever you require – always generating reports and figures when you need them most.

3. Tax and Compliance

Make sure you stay on the right side of the law by always adhering to any obligations you may have regarding tax and compliance. A professional bookkeeping service will be well versed in these and will understand exactly what is required for a business of your size and nature, as well as being able to fill out required forms and managing your tax fund.

You won’t have to worry ahead of tax and financial deadlines, knowing that everything will be well prepared and in shape.

Having a qualified accountant can help – see here whether your bookkeeper is qualified: https://www.uts.edu.au/future-students/find-a-course/courses/c10235

4. Receive Feedback

A professional bookkeeping service will be able to offer feedback to you – either via direct advice or through reports generated by their computer software. These will allow you to see any areas of your business that are excelling, as well as clearly identifying those which may be in need of improvement. Feedback such as this could allow you to make swift changes and save financial loss.

5. Avoid unpaid bills and missed deadlines

You’re likely to have a lot on your plate if you run a business, whatever size it is. Knowing that you have a professional bookkeeping service taking care of the financial side of things means that you can concentrate on the parts of the business that you are best at.

Unpaid bills, missed deadlines or loan repayments can prove costly and time-consuming – therefore handing these payments over to an external bookkeeper will take a huge weight off your mind.