Why should I outsource my BAS/bookkeeping?
A lot of small to medium size business owners take on the somewhat daunting task of doing their books themselves, because they want full control and want to know exactly what is going on in their accounts or simply because they don't want to pay for someone else to do something they believe is easy enough to do themselves. The simple software solutions now available to everyone have now made it easier than ever for DIY bookkeeping. However, the cheapest and simplest solution may not be the best thing for your business, especially in the long term. Many businesses end up with huge bookkeeping or accountant bills, or even fines from the tax office after being audited. Simple errors can cost your business a fortune, are you confident in your GST, PAYG & IAS obligations? Do you know how to process your accounts in compliance with ATO? Most business owners try and keep up with their accounts outside of business hours leaving the work day free for business as usual. Do you really want to spend your personal time on accounts or is there something more valuable for you to do? A good bookkeeper will be able to process your accounts faster and more accurately than you could do yourself, leaving you with more time to review your financial reports, rather than fussing to create them. Still want to manage your own accounts? It might be worth checking in with a BAS agent every now and then; they can provide you with any additional training you might need, answer questions on unusual transactions or keep up you updated on the latest changes on compliance.Remember its more cost effective to do it right the first time, than trying to fix it later.
