What to Look for When Hiring a Bookkeeper for Your Small Business
What to Look for When Hiring a Bookkeeper for Your Small Business
Our Newcastle & Maitland Offices:-
- Newcastle Accountants & Advisors – 45 Hunter Street, Newcastle.
- Maitland Accountants & Advisors – 93 Lawes St, East Maitland.
How to contact us
- In Person: Visit our conveniently located office at 45 Hunter St, Newcastle, NSW, 2300.
- Online: Schedule a virtual appointment via Zoom or Teams for added convenience.
- Mobile Tax Services: Benefit from the flexibility of having our expert CPA Newcastle accountants come to you for tax assistance.
- Onsite Services: Enjoy personalized services delivered directly at your place of business.
At Bottrell Accounting, we’re more than just consultants and accountants; we’re your strategic financial partners. Contact us today to discover how we can help you achieve your financial goals and secure a prosperous future .
Google Business Pages – Bottrell Accountants & Tax Agents
Bottrell Accountants Main Website – www.bottrellaccounting.com.au
Accountant Newcastle – 45 Hunter St, Newcastle, NSW, 2300
Accountant Maitland – 93 Lawes St, East Maitland, NSW, 2320
Our Accounting Services
Taxation
Our experienced tax professionals at Bottrell Accounting ensure that your tax obligations are met efficiently. We also focus on maximizing your tax savings through strategic planning. Our services include:
-Personal Tax Returns: Accurate preparation and lodgement of personal income tax returns.
- Rental Property Tax Returns: Expert handling of tax matters related to rental properties.
- Business Tax Returns: Comprehensive support for business tax planning and compliance.
Bookkeeping
Maintaining organized financial records is crucial for informed decision-making. Our bookkeeping services cover:
- Bookkeeping Processing: Timely and accurate record-keeping for your business transactions.
- Bookkeeping Data Entry: Efficient data entry to keep your financial records up-to-date.
Cash Flow Management
Optimizing cash flow is essential for financial stability. Our tailored solutions include:
- Cashflow Forecast: Predictive analysis to help you manage cash flow effectively.
- 3Way Cashflow: Comprehensive insights into your inflows and outflows.
Payroll Processing
Let us handle payroll processing for you. Our services ensure accurate and timely payments to your employees while staying compliant with relevant regulations.
Financial Reporting
Financial Reporting
Gain valuable insights into your financial performance with our comprehensive reporting services:
- Company Tax Accounting: Accurate preparation of tax-related financial statements.
- Business Tax Accounting: Detailed reporting for business tax purposes.
- SMSF Tax Accounting: Specialized reporting for Self-Managed Superannuation Funds.
Financial Control Services
Our financial control services help businesses establish robust systems and controls, ensuring accuracy, transparency, and compliance.
1. Qualifications and Experience
- Qualifications: In Australia, look for a bookkeeper who is a member of a recognised professional organisation, such as the Institute of Certified Bookkeepers (ICB) or the Association of Accounting Technicians (AAT). These memberships are an indication that the bookkeeper has met industry standards and continues to stay updated with the latest regulations and practices.
- Experience: Experience is critical when it comes to bookkeeping. A bookkeeper who has worked with small businesses in a range of industries will understand the unique financial challenges you face. They will also be familiar with the specific bookkeeping software and systems used in your industry.
2. Understanding of Australian Tax Laws
- BAS Preparation: One of the key responsibilities of a bookkeeper is preparing and lodging your Business Activity Statements (BAS). This requires a detailed understanding of the Goods and Services Tax (GST) and how it applies to your business. A knowledgeable bookkeeper will ensure that your BAS is prepared accurately and lodged on time, avoiding fines from the ATO.
- Superannuation and Payroll Compliance: Your bookkeeper should also be familiar with the requirements for managing superannuation contributions, payroll tax, and PAYG withholding. Failing to meet these obligations can result in significant penalties, so it’s essential that your bookkeeper is well-versed in Australian payroll and tax laws.
Accountants Newcastle – 45 Hunter St, Newcastle, NSW, 2300
Accountants Maitland – 93 Lawes St, East Maitland, NSW, 2320
3. Proficiency with Bookkeeping Software
- Cloud-Based Bookkeeping Solutions: Popular bookkeeping software options in Australia include Xero, MYOB, and QuickBooks. These platforms offer a range of features, such as automated invoicing, bank reconciliation, and real-time financial reporting. A proficient bookkeeper will know how to leverage these tools to streamline your bookkeeping processes, saving you time and reducing the risk of errors.
- Integration with Other Systems: Many small businesses use additional tools, such as point-of-sale (POS) systems or inventory management software. The bookkeeper you hire should be able to integrate your bookkeeping software with these systems to ensure smooth data flow and accurate financial tracking.
12+ Years Experience
With over a decade of experience, trust Bottrell Accountants & Financial Advisors for seasoned financial expertise.
Award Winning
Benefit from the knowledge and expertise of our certified accountants, who excel in their respective fields.
Qualified Accountants
Our team of chartered accountants & CPA, with over a decade of experience, brings a deep understanding of East Maitland's business landscape.
Specialist Services
Explore our specialized tax services, covering everything from individual income tax to corporate tax planning.
4. Attention to Detail
- Reconciliation and Accuracy: A good bookkeeper will regularly reconcile your bank accounts, ensuring that your financial records match your actual transactions. They should also be thorough in categorising expenses, recording income, and tracking assets, ensuring that your financial reports provide an accurate picture of your business’s performance.
- Error Detection: One of the key benefits of hiring a professional bookkeeper is their ability to spot errors or discrepancies in your accounts before they become bigger problems. A detail-oriented bookkeeper will help you maintain clean, error-free records, reducing the risk of costly mistakes.
5. Good Communication Skills
- Clear Financial Reporting: A professional bookkeeper should provide you with clear, comprehensive financial reports that give you a snapshot of your business’s financial health. They should be able to explain these reports in plain English, helping you understand your profit and loss, cash flow, and balance sheet.
- Proactive Advice: Your bookkeeper should be more than just a number-cruncher. They should be proactive in offering advice on how to improve your business’s financial performance, whether that’s through better cash flow management, cost-cutting measures, or tax planning strategies.
6. Reliability and Trustworthiness
- Confidentiality: Your bookkeeper should adhere to strict confidentiality protocols, ensuring that your financial data is kept secure and private. Look for a bookkeeper who takes data security seriously, particularly if you’re using cloud-based software.
- Consistency: A reliable bookkeeper will be consistent in their work, ensuring that your books are always up to date and that tasks such as BAS lodgements, payroll processing, and bank reconciliations are completed on time.
7. Customised Services to Meet Your Needs
- Tailored Bookkeeping Solutions: Whether you need basic transaction recording, full-service bookkeeping, or help with more complex tasks like payroll and BAS lodgements, your bookkeeper should offer services that are tailored to your business. They should be flexible and able to scale their services as your business grows.