How to Know If You Can Trust Your Bookkeeper in Melbourne

In our past, we talked about the methods to find a bookkeeping service for small business you may trust. But still, you could be left with some nagging doubts. There are numerous cases of bookkeeper in Melbourne fraud and company theft. You could not like to put your financial statements in the hands of someone you don’t know and even have never met.

How you may know that you can completely trust your bookkeeper in Melbourne?

Below are few things that bookkeepers do differently when it comes to the procedures, we have in place for our bookkeeping and accounting clients.

·        Accounting Services has a built-in system of balances and checks

The basic issue with an in-house bookkeeper is that they don’t let another employee check their work or look at their books. Most of the entrepreneurs hire a bookkeeper as they don’t have the time to maintain and balance their books. On every account by including a full charge bookkeeper and a controller, an efficient system of checks and balances is established to find errors and oversights. This way errors can be spotted and if there is anything wrong could be a red flag.

·        Your full-charge bookkeeper in Melbourne paid time off, receives, including vacation time

In-house bookkeeping that never takes any time off could be a red flag that you could be a victim of accounting fraud. The bookkeeper cannot let anyone else’s hands on the records as they might notice that something is not right.

The bookkeepers at Reliable Bookkeeping Services are full-time employees, we can often give them vacation-time, paid time off, and sick leave.  Due to our Client Procedures Manual and the processes and procedures, we instill when we are in the training process of new bookkeepers. It is quite easier for another bookkeeper to step inside and handle your books temporarily. Moreover, about the controller who oversees your books, you will realize that your bookkeeper will never be the only set of eyes on your financial data.

·        Your bookkeeper always follows criteria of planned spending

Sometimes the businesses may run into unexpected expenses which may throw the finances way out. Like, if the restroom of your business runs into an issue, you’ll have to call a plumber to get it fixed.

In some cases, the financial woes of the business could be the result of letting the business expenses go out of control. It’s something that may affect cash flow and liquidity as well. 

As unplanned expenses and emergency repairs could be unavoidable, some others could be prevented with efficient planning.

The best way to handle unplanned expenses is the formation of a realistic budget and having the discipline to follow it through. When you are planning your expenses, you may control your spending and assure that you don’t spend more than required.

·        Your bookkeeper is filing the taxes late and in an incorrect way

The moment of taxes is very stressful; it could be personal or business taxes. Business taxation is the primary concern for the business owner doing their bookkeeping themselves.

Filing taxes efficiently is the sole responsibility of Melbourne Bookkeepers to save you from considerable stress. It not only saves time but also you’ll enjoy:

·        Tax refunds

·        Exemptions

·        GST Credits

To avoid penalties and refunds for which you are qualified, it is the duty of your bookkeeper to be focused during a tax season.

·        Your bookkeeper is still opting for manual bookkeeping

Everything could be digitized, automated, and computerized these days. Many entrepreneurs are still doing things manually by making use of hand calculators and plugging the numbers into spreadsheets. 

Many business owners do this as they don’t show trust in the digital systems, or they just want to be in control all the time. Here the blunder is that manual bookkeeping is prone to some mistakes, and it’s time-consuming as well.

You have to make use of online bookkeeping software to do faster, easier, and accurate accounting. Such bookkeeping software calculates everything for you automatically like:

·        Synchronizing with the bank accounts

·        Calculating GST

·        Managing some functions like travel expenses

·        Calculating figures and generating reports automatically

Our Bookkeeping service for small bookkeepers is systematically approached and we are not just bookkeepers, we are cloud bookkeepers in various platforms such as MYOB, Xero, QuickBooks, etc.

 WE ARE TRUSTWORTHY!

We follow an approach of working together to help assure business continuity throughout the year.

You must consider hiring an accounting firm or bookkeeping services for a small business, over an individual to assist in adding confidence in your financials and continuity for your business.

You can rely for Melbourne bookkeeping on Reliable Bookkeeping Services and we ensure that you can trust our bookkeepers and they are the best result when you surf the web for “accountants near me”.

Stay in touch with us!