11 Jun

Why Should You Hire A Bookkeeper?

Bookkeeping involves the recording of important financial transactions of a business on a day-to-day basis. A bookkeeper should maintain accurate financial records of a business and keep them up to date. Accuracy is the keyword when it comes to keeping books on behalf of a business. Bookkeeping is a highly specialised job that should be performed by a professional who is trained and experienced in the subject. A bookkeeper is a person who maintains accurate financial records on behalf [...]

By Numbers Pro Bookkeeping Tips and News 0 Comments

24 May

What is the Future of Bookkeeping?

Bookkeeping is something that every small business must do and there is no escaping from it – unless you don’t mind the ATO knocking on your door. However, the world is changing rapidly and the days of bookkeeping being done using a pen and a double entry notebook are on the way out. Now even using an Excel spreadsheet is considered archaic to some. If you want to be successful with your bookkeeping, you need to work smart. How Technology [...]

By Numbers Pro Tips Tax Accountant Melbourne 0 Comments

24 May

A Beginner’s Tutorial to Bookkeeping

Bookkeeping is the act of recording and classifying different accounting transactions in any business and the techniques used for such processes. For small business owners, there is the option of doing your own bookkeeping, hiring someone else to do it for you or outsourcing it to a third party. Taking this into consideration, following is what you need to know about bookkeeping as a beginner. Currently, there are numerous bookkeeping programs on the market. However, there are some things you [...]

By Numbers Pro Bookkeeping Tips and News 0 Comments

24 May

Why is Bookkeeping Important for a Small Business?

Bookkeeping is an integral process for any small business. Business owners can choose to hire bookkeepers, outsource the work to them or do it themselves depending on their bookkeeping knowledge. Whatever they choose, bookkeeping ensures the following benefits to each and every small business. Ensures Proper Budgeting With thorough bookkeeping records, it’s easier to stick to a budget. Remember, small businesses have smaller resources so wasting these resources can hurt. If the income and expense are organised accordingly, you [...]

By Numbers Pro Bookkeeping Tips and News 0 Comments

24 May

10 Expectations To Set For Your Bookkeeper

Hiring a bookkeeper is definitely the right decision for a small business however, it’s even more critical that you find the right bookkeeper for your business. This process requires a lot of patience, research and due diligence. Remember, the bookkeeper is working for you so you should set the right expectations to make sure you achieve the best results. Taking the above into consideration, let’s take a look at the top 10 expectations you should set for your bookkeeper to help [...]

By Numbers Pro Bookkeeping Tips and News 0 Comments

16 May

What is the trial balance format in bookkeeping?

The trial balance format is a natural part of the bookkeeping process and crucial for a business to properly keep well-maintained books. This is done after a pre-set period. For some businesses that might be a monthly thing, for some, it will be quarterly. Almost all will have an annual trial balance, and it’s not unusual for a business to run their books so that there is a working trial balance monthly, quarterly, and annually. This format involves pretty [...]

By Numbers Pro Bookkeeping Tips and News 0 Comments

16 May

What is the Best Bookkeeping Software on the Market Today?

Many small business owners do their own bookkeeping and accounting. This can be quite simple when you’re a new business and you don’t have a lot of staff or a particularly high turnover. Indeed, someone who is self-employed and who deals with just a few clients may be able to get by with bank statements and a spreadsheet. However, the bigger your business gets, the more important it becomes to have a systematic approach to bookkeeping. Using the right software [...]

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16 May

What are the Common Types of Bookkeeping Accounts?

Many entrepreneurs and small business owners are masters at creating exceptional products and services, winning over clients and building great teams. However, bookkeeping is far from their biggest strength. Being familiar with the different types of bookkeeping accounts is usually overlooked, but it is vital for gaining clarity on your business finances. Mastering your own books helps you prevent any potential cash flow issues before they lead to bigger problems within your business. Therefore, here are some of the common [...]

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16 May

The Differences Between Accounting and Bookkeeping

Cash flow accountability and management are vital aspects of any business operation. With the precise recordings of transactions, coupled with correct assessment and processing, a business owner can have a solid foundation from which he or she can make decisions as well as plan their company’s growth. Recording and comprehending the primary financial needs of any company like expenses, sales and payments isn’t that difficult, but understanding the accounting needs of a company is not a walk in the [...]

By Numbers Pro Bookkeeping Tips and News 0 Comments

25 Mar

Bookkeeping Services In Melbourne

If you own or operate a small business, you may not have the financial resources to maintain your own accounting department. It is quite an expensive proposition for a start-up or small business. On the other hand, bookkeeping is an essential part of operating a small business. If your business doesn’t know how much money you have and where the money is going, you are setting yourself up for disaster. When operating a small business, failing to plan is [...]

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